Tuesday, April 16, 2024

Could You Be Your Own Boss?

November 12, 2018 by  
Filed under Business, Opinion, Tech/Internet, Weekly Columns

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(ThySistas.comThe world is changing, and more and more people are taking the plunge and swapping conventional employment for self-employment. If you’re at a crossroads in your career, or you’re weighing up your options, and you’re considering setting up your company or going freelance, here are some tips that may prove useful.

Establish what you want to do

Before you hand in your resignation or start ordering hundreds of branded business cards from a local printing firm, think carefully about what you want to do. It’s not easy to create a new business or to switch from a 9-5 office job to a freelance position, and this is why meticulous planning is required. If you’ve got ideas, consider how you’re going to turn them into a working business model. How are you going to use your skills and your experience to generate a steady income? Take time to figure out each step, explore your options, and work out how you’re going to move from one phase to the next. It’s essential to have a business plan in place and to ensure that it’s completely watertight. If you plan ahead, this will minimise your chances of failure and make sure you get off to the best possible start.

Understand the marketplace

To succeed in business, it’s essential to ensure that there’s a demand for what you’re selling, and you need to understand how to connect with your target market. First, make sure there’s an appetite for the product or services you plan to offer. Carry out extensive research, see what’s already out there, and determine whether there’s a gap in the market that you could exploit. Talk to people from groups you’re keen to target and gather as much information as possible about pricing and marketing strategies. You can use the information you obtain from surveys, focus groups, and questionnaires to work out which kinds of marketing methods you’re going to use, how much you’re going to charge for your services, and how you’re going to bring in new clients.

Being a modern business owner

If you plan to set up your own business, or you’re looking to make money from a new blog, for example, it’s crucial to be aware of the influence of technology and to take an interest in how cutting-edge systems are shaping society and the world of business. It’s hugely beneficial to understand how technology could impact and improve your business. If you’re not already familiar with the public vs private blockchain debate or you’ve never even heard of Bitcoin before, now is the time to do some research and look at the way market leaders are adapting the way they work. You may not need to invest in the latest tech for your business immediately, but it’s always beneficial to be aware of emerging trends.

Work out a schedule that suits you

Many people choose to pursue the avenue of self-employment to achieve a better work-life balance. Being your own boss gives you more control over your diary, and often, it’s possible to work around commitments like parenting or caring for relatives. If you are thinking of changing your job or setting up on your own, think about how you’d like to adjust your routine, and how you can make it work for you. If you’re in and out of the house all day, this doesn’t necessarily mean that you can’t run a company. In fact, it’s easier than ever to take control thanks to the capabilities of modern smartphones.

You can make calls, manage emails, sort your accounts, accept and process orders and payments and interact with clients and employees all at the touch of a button. Whether you’re based at home, you rent office space, or you work on the go, there’s nothing to stop you establishing a schedule that suits you and your clients. It may take a little trial and error, but you should be able to come up with a solution that gives you control and enables you to maximise sales.

Have you ever thought about being your own boss? For some people, being self-employed offers a wealth of opportunities that simply aren’t available when working for somebody else. If you like the sound of being able to dictate your own working hours and set your own fees, it may be worth considering going freelance or setting up your own business. If you do decide this is the route for you, take time to conduct research, figure out every move in advance, and think about what it takes to be a successful business person in this day and age. Good luck!

Staff Writer; Lisa Ross

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