Becoming self-employed is a dream for come true for many people who want the freedom to do their own thing in their own way on their own terms. However, so few people take the plunge because they the prospect of leaving their job and going it alone is so daunting.
But, the thing is, whether you want to open your own vet clinic or start your own writing business, there has never been a better time. Few people now have a job for life and the internet has made finding the help and information you need so easy that now is the perfect time to strike out on your own.
Here are some of the steps you will need to follow to move from employed to self-employed:
Before you strike out on your own and become self-employed, take an honest look at yourself and your situation. Note any skills you have and any skills you may need to acquire to prepare for your new venture. You will also need to think about how much money you can afford to risk on your new business and how much you are willing to put into making a go of things. This will help you to honestly assess your options and make an action plan.
Evaluate Your Business Idea
Once you have narrowed down your options and have some solid business ideas, you will need to examine your idea to see how it meets with your goals, how you will create demand, who your completion is and how you will beat them. Doing this will help you to work out if your idea is viable and if so how you can best go about implementing it.
Legalize Your Business
One of the first things you will need to do when starting a new venture is make it legal. This means that you must register as a sole trader, partnership or limited liability company. IN most cases, the latter options will be your best choice because they will separate your personal finances and liability from those of your business, so that you will have some protection if things don’t work out.
Write a Business Plan
A business plan is an important document that will help you gather financial investments from banks, friends, family and other investors. It will also give you an idea of how much capital you need to get started, how long it will take you to make a profit and how to best go about achieving that aim.
The average small business person used small personal loans, credit cards, savings and money borrowed from the family to get started, but small business loans and grants are available, and if you draft a solid business plan, they may not be too difficult to secure.
Now for the exciting bit – starting your business. Set up your website or lease and do up your premises, hold a launch party, hand out leaflets and just generally do anything you can to attract custom. You will have to work very hard at this stage, but do try to enjoy what is a new and exciting chapter in your life!
This post has been contributed by Ryan Gatt, it may contain affiliate links.