Top Tips When Becoming Self-Employed

In the modern economy people become self-employed for many different reasons. Perhaps they want more freedom and would like to fit work around their social lives more, or maybe they feel ready to take on the challenge of doing it all themselves.

No matter what the reason, more people than ever are taking the leap into self-employment. According to the Office for National Statistics, 4.53 million people in the UK are self-employed, out of a total of just over 30m in work, with 1.67 million taking the plunge in the past five years alone.

No matter what your industry, working for yourself is something many people find an increasingly appetizing prospect as they get older. In fact, the average age of someone self-employed is 47, compared to 40 for those in ‘employed’ work. It is also worth noting that almost 4 in 5 of people who work post 65 are self-employed, which perhaps speaks volumes about the employment world’s attitude to ageing at a time when people are living longer and healthier. If you decide to make the leap, here are a few tips that you shouldn’t overlook if you want to make your venture a success.

  1. researchDo your research – When inspiration strikes and you think you have found the next big thing, it is easy to jump right in and take the plunge. This is all well and good however you still need to do your research, has some already thought of this idea? Are there many competitors in the market? Is the market likely to change? These are all questions you need to ask before you start, you don’t want to jump straight in only to find out someone else has already thought of your idea and the market is already saturated. Click here to find out more.
  1. Stay Motivated- To use a famous phrase ‘You can’t win them all’ no one expects you to win every contract, close every deal or sell your product to every customer that you talk to. They key is to stay motivated, treat every knock back as a learning experience. Look for the positives that enable you to build your existing skills, remember Rome wasn’t built in a day and it took entrepreneurs like James Dyson years to make themselves a success. Click here for more great tips on how to stay motivated when you’re self-employed.
  1. Get the right people around you – You can’t possible know everything there is to know about running a business, or even if you do there isn’t enough time in the day to do it all yourself. Find a team of professionals to work on the areas you need support in, be it a marketing agency, an accountant or even just someone to help with the paperwork. Find and build a team that compliment your skill set to allow you to grow your business to reach its full potential.
  1. Never Stop Learning – If you’re not constantly learning and improving, you’re not going to remain relevant as technologies change and update. You have to continually be learning and adjusting to give yourself the best advantage over your competitors. Always be willing to try new things, be on your industries cutting edge. Attend tradeshows, take training courses invest in new systems, do whatever it takes to get yourself ahead and stay there. Click here for more information about training courses to help you train to be at the level you need to be.
  1. Spread the word Networking becomes even more important when you’re no longer part of a large organization. Contacts, networking groups and simple word of mouth recommendation can be very useful in helping you grow your business and client base. Social media is also becoming an increasingly pivotal tool for targeting the right people to promote your business too, multiple platforms can be utilized for free that will generate great results and will grow your market potential.

So to summarize – When you first start out as self-employed, it’s about fully unitizing the resources you have available putting in as much planning as possible and staying positive, after all if it’s your dream to be self-employed then it’s worth giving it your best shot.

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