9 Must-Know Tips For Going Self Employed
The global pandemic has resulted in many people craving tips for going self employed for the first time.
Evidently, self-employed workers were one of the hardest hit during the pandemic, with various variety of government support.
Despite the challenges, being self-employed can be immensely rewarding, hence tips for going self employed.
To some people, self-employment may represent the only way of earning a living and remaining active in the labour market. The self-employed ware a diverse group that includes everyone right from independent consultants, hairdressers to executive producers and part-time delivery drivers and many more. Read also See Reasons Why Businesses Fail
Making It Big With Self Employment
Self-employment is certainly not for everyone but for those who have chosen it, it’s the ultimate freedom. Doing what you want, when you want and for who you want is great, but it also comes with the responsibility of being the only person to blame when things go wrong. That being said, there are certainly some tips for going self employed that can help the newly self-employed and sometimes even veterans adjust to their new lifestyle. If you are serious about making your small business a success story, take a look at these tips for going self employed success. Read also 11 Businesses With Low Start-up Capital To Easily Start
Best Tips For Going Self Employed To Make The Most In Your Business
1. Protect boundaries
If you are after great tips for going self employed, try to protect your boundaries of work. To self-employed individuals, boundaries can be covered sometimes. This includes those between work and the rest of life, working for different clients and working on personal business and on clients’ businesses. This can be caused by the income insecurity inherent in self-employed jobs, clients’ expectations for availability around the clock or renegotiation of agreed work, which creates complications in demands competition. Long hours of working and difficulty in disengaging from work contribute to potential conflicts between work and family. However, learning to say no and protect boundaries creates room to rest and recharge. It helps with taking on new opportunities, improving performance by focusing on only one task at a time and having a life and identity outside work. There are several things that can be helpful including scheduling all tasks such as family time and leisure in addition to making an effort to be mindfully present with loved ones as well. Read also 10 Business Management Tips To Grow Your Business Easily
Because you have a home office or your work number is a personal cell phone, doesn’t mean you have to be available all day or you are obligated to work long into the night without rest. Like a normal job, you need to give yourself and your clients a schedule and stick with it. If you are going to call it a day at 6pm, then shut down your email and turn off your phone at exactly that time and don’t turn them on again until you are back to business again. Also, consider getting a separate cell phone for work so that clients aren’t bombarding your personal number always.
2. Learning New Things Everyday
One of the best tips for going self employed is learning new things everyday. Self-employed persons have more responsibilities and less support than employees. They are in charge of every aspect of their business, without access to admin and sales teams, databases, stationary and many more, which can be more stressful and hectic. To manage this stress, self-employed people can learn the pros and cons of their business through the knowledge of mentors and peers.
Again, research shows that finding and using personal strengths can reduce stress, while boosting productivity and wellbeing. Read also How To Make Your Business More Profitable With a Four-Step Approach
3. Understand Potential Crisis
To become self-employed, you would have to face many insecurities, including variable workloads, changing client demands, cash flow issues and insecure incomes. These results in fear, uncertainty and take up valuable emotional and mental resources.
Being uncertain whether work will be available soon or whether a client will pay on time aren’t only scary on their own, but also bring the possibility of experiencing pain and loss if everything crumbles . People can learn how to build emergency funds, manage slow paying clients and develop a growth mindset to cope with unexpected challenges. Read also How To Track Your Small Business Expenses To Improve Business Potential Profitability
4. Nurture Good Relations
Also on tips for going self employed self-employment is usually a lonely journey because others may not understand what the role involves. There are no formal co-workers around, and making time to socialise can be quite challenging. Loneliness is detrimental to wellbeing, with associated risks that exceed the danger of doing the odds.
Nurturing relationships is very essential and self-employed workers can develop positive relationships in a many ways. Sending thank you letters to clients, seeking out and working with mentors and peers and prioritising time to connect with family, friends and significant others all help to create meaningful relations. Read also 13 Most Profitable Online Business Ideas For Web Developers And Internet Users
5. Giving Up Unhealthy Pressure
Usually, self-employed people put up unhealthy pressures on themselves. It can be easy to compare yourself to highly visible entrepreneurs and feel guilt, shame and disappointed from not meeting personal expectations. While these self-imposed pressures can have to some extent, a motivational effect to work harder, they also act as stressors and impair wellbeing too. Read also 20 Simple Steps To Start A Profitable Soap Making Business From Home
Such unhealthy pressures might also make it more difficult to open up, express vulnerability and seek support because of fear that this may be perceived as a weakness. Acknowledging the multiple reasons why something may not be going well and practising self-compassion is a simple but powerful tips for going self employed.
6. Know What You Need
Hard work and skills are all well and good, but without an overarching direction for your business, you will never be able to realize your full potentials. Make sure that you know where you want to end up and examine every step you take to make sure it lines up with your end goal. If it doesn’t, that may be a sign that you need to reevaluate that step and head in to a different step. Read also Top Profitable Online Business Ideas Readily Available Right Now
7. Establish Routines
Moreover, while self-employed people have greater flexibility and autonomy than employees. They also lack the structure and support of organisations, this unique combination of working conditions makes it more difficult to remain motivated. To avoid stress and to manage time, creating a spiral of negative emotions that becomes a self-fulfilling , impairing performance through procrastination.
One more tips for going self employed to cope with this challenge is by establishing routines. In addition to reducing some of the negative emotions and improving productivity, routines can promote a sense of wellbeing and meaning. Routines can also make it easier to incorporate the steps mentioned previously into daily or weekly schedules, including time to look after yourself, not just the business only. Read also 9 Best Work From Home Small Business Ideas To Generate Wealth As An Online Entrepreneur
8. Manage Money Wisely
If all the money is coming to you instead of just a paycheck from a normal job, it can sometimes be tempting to overspend. The problem results when you are not putting away enough to survive if you have a few sales month or even worse. If you are not accounting for the fact that you have to handle your own taxes and other business related expenses. Make sure you are managing your finances realistically, don’t be afraid to consult an accountant if you need assistance. The price of getting help will be much less than the price of making a mistake on your own which could cost you a lot, it’s one great tips for going self employed successfully. Read also 7 Things To Do When You Are Unemployed In Ghana, number one is a must read
9. Be Realistic To Yourself
On tips for going self employed, When you are a small business, it can sometimes be tempting to act a bit bigger than you really are or to attempt to come across as corporate when you are really just a one-person show. While this may be a tactic that works for some, just being real to yourself is much easier and probably isn’t going to cost you any thing. The whole point of being self-employed is that you are selling yourself and your , so it’s safe to say your personality is part of the self employed business package. Read also How To Start A Successful Travel Agency Business In 16 Smart Steps