Thursday 21 June 2012

Is self-employment for you..?

You're currently working for somebody else and have a particular expertise. You might be considering becoming a self-employed  freelancer
.
It’s a popular way to make the move from being an employee to being your own boss.


However, as with starting any business, there are as many disadvantages  as there are benefits.


Here are some things to consider before making the leap:



Skills every freelancer must have


  • People: Many creative people consider themselves to be introverted or shy. You want to do your work, right? But you don’t want the bother of promoting  it or even dealing with clients. That can be the kiss of death to your business. You need a healthy dose of curiosity to stay on top of what your clients want and need. And that means engaging with them to find out what they’re thinking and feeling. The only way to win work is to develop relationships with potential customers. You need to be a people person to do this. 
  • Self-Discipline: When you work for yourself, it’s easy to play hooky and put things off until tomorrow. But that’ll get you stuck in a sea of inertia. Make a point of keeping regular office hours. Meet your deadlines. And keep your books up to date.
  • Professionalism : Most people think freelancers are flaky. You don’t want to be labelled that way. Go out of your way to dress for work. Return your calls – promptly. And keep your word. People will notice…and remember.
  • Organizational Skills : Chaos doesn’t beget success. Lack of organization can make you miss opportunities. Keep a place for everything and put everything in its place.
  • Commitment: A laissez-faire attitude is easy to spot and nobody wants to work with someone whose heart isn’t into what they’re doing. Commitment inspires others to commit to you.
  • Self-Awareness : Working for yourself is like a lab experiment in personal growth. You find out who you have chemistry with, who you don’t and why. When you get to know yourself and your own personal style, you can make the most of them and use them to your advantage.
  • Self-Confidence: Little successes add up to a big dose of self-confidence. Everybody wants to align themselves with a winner…someone who knows their own strengths and all the great things they have to offer. When in doubt, fake it until you make it!
  • Patience: Timing is everything. Don’t get impatient or act too needy. Everything happens when it’s supposed to. 
  • Flexibility: Today’s economy requires adaptability. Flexibility is required in your service offering, your prices, and how you package them. Listen to what the market needs, then offer it. Quickly. 
  • Perseverance : You’ve heard the old adage that sales is a numbers game. It takes a certain amount of legwork to see results. Perseverance is a quality that separates the men from the boys. People will take you seriously if you prove you’re serious – that you’re not going away. It communicates reliability, consistency and dependability.
  • Communication Skills: Go out of your way to over communicate. It dispels misunderstandings, heads off potential problems. And shows that you’re on top of things. Be careful what you say in email communications – it’s often misconstrued. When in doubt, a verbal exchange is best.
  • Be an agent of change : Most of us are change-adverse. We don’t really like to go with the flow. We like the known, the comfortable, the predictable. But being adaptable to change with a healthy dose of detachment, curiosity and even-keel emotions can help you weather the ups and downs of running a business. Even make you come out on top with your nerves intact.
  • Money: Marketing gets the business in; but you will need good money skills to stay in business. Freelancing isn’t like being employed. There’s no regular pay packet; you will need the ability to be flexible and maintain a positive cash flow.

  • The advantages of being a freelancer
  • Freedom: You can choose which work you will do and who you will accept as a client Similarly, you can choose to take your holidays when you wish.
  • Variety of work: You can also choose to do work that challenges you and gives you a greater variety of things to do.
  • Pay less tax: As a freelancer you will be self employed,and can reduce your tax bill with genuine business expenses. A good accountant will help you reduce your tax bill to much less than you pay as an employee.
  • You are your own boss: The prime reason to become freelance. 
  • 2 comments:

    1. Great summary of the pros and cons of freelancing, but with an emphasis on the positives. Makes we want to go solo after reading that!

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    2. May I just add that there are some skills that you can get help with. It may seem odd to spend money to get someone else to do what you can do, although you may dislike doing it. If you dislike doing it you're likely to put off doing it. Pay someone else who likes doing it and you'll get it done right at the right time and free yourself to earn even more money doing what you are good at.

      I resisted buying in help until a little while ago. Since seeing it as an investment, rather than a cost, my business has started to grow again!

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