There are various factors that favor self-employment. The most important factors are personal requirements. Ideally, the following success factors are present:
- Entrepreneurial Thinking
- Technical ability
- Industry knowledge and management experience
- Physically and mentally healthy
- Idealism, passion
- Resilience (in terms of time, personal, being able to take defeats)
- Business knowledge
- Sales flair
- Good network of contacts
- A strong business idea
If you want to be successful in your own wholesale kitchen cabinets business, you should think carefully about whether the above points have been met.
What are the main advantages and disadvantages of self-employment?
Many aspiring self-employed people dream of realizing their own ideas. It’s also often about being your own boss and not having to be accountable to anyone. It is therefore primarily about more personal freedom and self-realization. However, if you are self-employed, you also have to accept some disadvantages.
Benefits of being self-employed
- Self-determination, self-realization, freedom, no conflicts with superiors
- Higher motivation to work because you work for yourself
- The chance to live out your own calling
- The chance to earn more money than in an employee relationship
- Strengthening of one’s own personality due to the great challenges
- Admiration from the social environment
Disadvantages of being self-employed
- High business risk, lower existential security
- High time workload
- Mental stress: pressure to succeed, dealing with defeats
- Difficulty really being able to switch off
- Depending on the type of company, large investments must be made
- Depending on the course of business, it can take years to reach the previous income
- Own provision for loss of earnings and old age
Becoming self-employed successfully in wholesale kitchen cabinets: What is the ideal approach?
In a first step, there should be a business idea that differs positively from others and therefore has a good chance of success. “Distinguish positively” means reasons that lead the customer to decide on their own offer. In a second step, the chances of success should be clarified by market surveys and tests. Ideally, the first customers can already be won during the market tests. Self-employment should only be considered when it is clear that the business idea is promising and feasible.
Another important success factor for successfully becoming self-employed is industry and market knowledge as well as relationships with market partners. Ideally, based on these relationships, the first orders or cooperation are already being promised or confirmed.