It’s just few days for the next year to begin. Whenever the start of a new year approaches, people start making the resolutions. Many of them make the resolution to quit their 9 to 5 job and become their own boss. From working for a boss to becoming your own boss……Isn’t it something that most of us dream of? Well, I know that most of you will definitely say a ‘Yes’ to this particular question. But hold up just for a second.
Working for yourself is indeed a great route to choose but the reality is much harsher than you might expect. Well, to be honest, I too ventured into it about a year ago, and if it hadn’t been my connect with people, I would have failed miserably.
So, in this post of mine I will be sharing list of things that you need to consider before becoming self employed.
RESEARCH AND MAKE A PLAN:
Planning is the first and foremost step. Leaving your full time job is not the right option. Make sure to do all the necessary research to get your questions answered. Figure out what products you will be offering, your target customers, try to talk with other people to understand the business model and the transitions into the self-employed life.
AVAILABILITY OF A FINANCES:
While you may be thinking to put your hard earned savings to start your own business and there is absolutely nothing wrong in that but think for a while if things doesn’t turn out as per your expectations. One can come across unexpected expenditures in due course. You may look to financial institutions or your close relatives to lend you money but this would eventually lead you to a debt trap. So, it’s important that you should have a financial back up plan. Try to get your business off the ground while you are still working full time so that there are no financial worries at all.
PROPER WORK LIFE BALANCE
Being your own boss gives you the opportunity to control your working hours. While for some entrepreneurs it can lead to achieving a better work life balance wherein they can fit their work assignments around personal commitments, for others it can result in the opposite. So, it is important that you figure out how self-employment can affect your personal life and hence decide the best time for life changes such as purchasing a new property, getting married or having children.
HAVING A STRONG CLIENT BASE/NETWORK
To make sure your business grow and reach new heights, then a strong network for opportunities is indeed a requisite. It is rightly said that what goes around comes around. People remember when you lend a helping hand to them and also when you just ignored them. One should get rid of any selfish mindset before embarking on this new journey of entrepreneurship. Network is the key to be a successful entrepreneur.
BEING 100% RESPONSIBLE
When you start a new business, then right from creating the product, its marketing, delivering, invoicing to networking, all becomes your responsibility. If you are unable to deliver your promises to your client then you need to own the responsibility and try to find out the ways to rectify the same.
While there are so many inspiring and amazing stories making rounds on internet, it’s certainly not all sunshine and roses. It’s important that you protect your income so that you can live the life without compromising on basic things. Income protection plans can certainly help you out in such situations. You can know more about the plan by visiting https://www.lifesearch.com/types-of-cover/income-protection