Self Employed Business

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Self Employed Business: 2 Important Questions to Consider Before Becoming Self Employed

The first step in starting your own self employed business and becoming self employed is in determining what you need to do legally.

Where do your interests lie and what special skills and training have you ever had?

A lot of individuals use self employed business as an opportunity to re-train and do something entirely different with their lives.

Many people take the leap to even start an internet marketing business or service based company.

Here are two important questions:

Another factor is how much money is there available for investment at the startup; is there finance or funding available?

How long can you encourage yourself to stay motivated before you need to make a profit?

A franchise can sometimes be a fantastic chance at a time like this since there are a business plan and corporate plan in place.

The truth іs thаt 80 реrсеnt оf nеw stаrt-uрs fаіl іn thе fіrst couple of years.

80% of the 20% that make it are franchises, but it is very important to take care to select the right business for you.

Some experts will say that a few of the answers to those questions might well mean that you need to look at reigning in some of your initial excitement, but we disagree.

Passion is excitement and you need that on the journey to your vision.

Selecting what to do and how to start, initially involves identifying a specific service or skill you have and then determining how to do the marketing so that people find you.

Sometimes listing those skills and then creating a brand for yourself can be an effective way of promoting yourself and your new company.

You also have to focus on putting together a solid business plan to justify getting a business loan if you need finance.

 

Forget business cards

Putting together good quality stationery, using flyers, leaflets, business cards, etc. can help in promoting yourself as a professional business rather than as a small scale newcomer.

However, that is the tip of the iceberg. There are a lot more important marketing strategies that you need to take care of.

It can be a rewarding investment, and the process of putting it all together can also allow you to clarify your goals and target market.

Sometimes looking at small businesses that may need part-time expertise in your field can be a fantastic way of getting into the current market, gaining experience and making connections.

They may not want, or be able to afford full-time employees, but a part-time option may be an exceptional response to their problems while getting your foot in certain doors and introducing yourself to relevant folks.

When you’re starting to work from home, it is important to create a positive environment for yourself.

Take yourself seriously and invest in the right workflow.

 

 

What can you claim back on tax?

Well, several things have to be considered and taken into account.

For example, a comfortable office chair is an important investment – you will no doubt be spending a lot of time in it, at least at first. Portable laptops and technology equipment is helpful and you can claim that for your business.

A filing system is essential, especially if you are working in various companies or on different projects. To be honest, online cloud storage and filing documents in the clod is the best.

Convenient telephone access is vital and you can claim phone,  virtual answering and VPN costs.

 

How do you stay motivated?

Keeping motivated can be a challenge as working on your own or from home can be lonely at times.

Provide yourself with structure every day.

Have a routine where you get up, have a shower, prepare for work and then aim to start by a specific time.

Proper breaks for lunch, or water, are important and make sure you use these breaks to get some fresh air if possible, so you escape the office for a little while (this is a great reminder for myself too)!

Want to know more about starting your own self employed business? Start a conversation on our Live Chat now.

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