Being self-employed isn’t all roses and puppies. There are plenty of challenges that you need to overcome to make your venture into the world of working for yourself successful. Take a look at the pitfalls to avoid when taking your first tentative steps into the realm of the self-employed.
The Onus Is On You
It can be quite daunting when you have the sudden realization that you’re the reprographics assistant, the financial head, the marketing guru, the CEO and the tea maker all rolled into one. Wearing so many hats and often more than one at once can take some getting used to, but you need to quickly if you’re to make your self-employment a success. Ensure that you have a well constructed business plan and that you have the necessary funding to see your venture off the ground.
If you are sticking with the industry that you’ve been working in for the past decade the chances are that you have made many worthwhile contacts. There’s no shame in taking that established customer base with you. You may want to tempt them to your newly formed company by offering a discount for your services or sending out an email with a promotional offer.
Play To Your Strengths
If you’re very much a one-man band with no staff to speak of yet, it’s vital that you play to your strengths and don’t try to take on too much. If you’ve never had a go at keywording or implementing sound SEO, don’t start trying now. Outsource this function to a specialist company who will provide a bespoke service to your brand. If you work as a self-employed lawyer and your skills are very much in the courtroom, why not contact a web design company to maximize your law firm’s needs? This way, you don’t have to spend time learning new skills when you could be implementing your business vision.
The joy of outsourcing means you can spend your money wisely to maximize your profit. You’ll be able to tap into external expertise that you don’t have access to in-house. Trial your outsourcing strategy and see if it pays off.
Work-Life Balance
You may be heading towards self-employment because you’re putting in 60 hour weeks in your full-time permanent role, the commute is a killer, and you have absolutely no social life to speak of. If you think things will be different when you’re working for yourself, you might be sorely disappointed, at least for the first few months. Putting in the leg work as you start your new role working for yourself is vital to make your venture a success. You cannot simply give up your role as an employee to roll out of bed at 10 am when self-employed. You need to put in the effort, time and dedication before you can consider taking it a little easier.
The benefits of self-employment can outweigh the downsides. While your work-life balance may not shift immediately, eventually it will become more palatable as you strive to make a name for yourself in your chosen industry sector.
Separation Is Key
Think long and hard before you dedicate yourself to working from home. The idea is sound: getting up in the morning, heading to the sofa laptop in hand and answering the first emails of the day. However, this can quickly lead to watching the news on TV, venturing onto Facebook and booking the table for your anniversary dinner. Consider some physical separation between your home and your work to prevent procrastination. Think about renting an office space not too far away that will allow you to get into a work frame of mind. Rents for shoebox style office rooms complete with wifi and a window are pretty reasonable, and you could find yourself infinitely more productive.
Becoming self-employed takes a great deal of courage and faith. With commitment, the right skill set and resilience, you can make your self-employment dreams a reality.
