Tips and Suggestions for Those Who Plan to Be Self-Employed

If you do not consider yourself a team player, or if you tend to have a problem with authority, then working in the corporate environment can be really challenging for you. Luckily, there are other options to generate income other than working as an employee in some company.

You can opt to be self-employed, and basically answer to no one. You are your own boss, you decide how the funds are spent, and you get to decide when you will work. Sure, at first it sounds ideal, but it is much more difficult than it seems, and there are a lot of things you need to consider.

So here we will go over a few tips and suggestions that can help you during your self-employment.   

Establish presence on the platform where you can get clients

The trouble with being a one-man company is finding clients. First there is no brand name, official headquarters for your basis of operation, and there are no other team members, which makes it hard for people to trust you from the very start.

It would be wise to start with building your reputation and portfolio. You can create profiles on all of the places or online platforms that can have your potential clients. So, social networks, and freelancer platforms are definitely a necessity in this scenario. You need to be active on social media, post your work there, use the right hashtags to get noticed, and communicate with potential users.

You can start by looking for other people who are in the same line of work as you and self-employed, but who already make enough to live comfortably. Feel free to approach them and ask if they have some starting tips, or how they manage to acquire new clients etc.  

Manage your funds wisely

It is really a perk when you are your own boss and have complete control over your earning, however do not let this kind of power go to your head. Manage your finances carefully. Since you are working solo, you can never know if you are going to have a steady income on a monthly basis; it all depends on your clients and this is why being self-employed is really stressful.

Being uncertain of whether you’ll secure future jobs can make you more anxious and affect your personal life as well. So, make sure you have emergency supplies of cash, just in case you are going through a month that is a bit slow.

Furthermore, don’t think that there are no tax obligations for being self-employed. First you need to register, and you also need to report all of your running costs, and your profit. Running costs can be deducted from your taxable profit, so make sure you calculate everything and not end up paying more than your need to.

Take your job seriously

In order to make this work, you need to take your job seriously. It may look like it is a lot of fun and that people will be throwing money at you, but it really isn’t. You can find a lot of self-employed people who make video content on YouTube or similar sites.

Sure they look like they are having fun and coming up with jokes, but these things take a lot of work and attention to detail. All of them take this obligation seriously and approach it professionally, regardless of how childish they look on screen.

So, if you are to be self-employed, you cannot regard your job as a hobby, you must approach it in the same way that you would expect an employee to do this job. Daily efforts, constant work, focus and persistence, these are the keys to being a good employee and a good boss at the same time in this case.   

Focus on obtaining positive client reviews

Finally, people trust referrals if they need to make a purchase, which is why user reviews are an imperative in your case. You should become a legit freelancer that clients can trust and you must always insist that they leave a review that will be visible to other potential users. Also, make sure you do your best to keep them satisfied and ensure that these reviews are positive.  

Hopefully, you will find these suggestions useful, and you will have success at launching your self-employed career.

  • SigmaTen is a firm of Chartered Certified Accountants, dedicated to helping you and your accounting & property management needs. As your accounting needs will continue to grow, it is imperative to pay careful thought to a long-term and viable solution for this vital part of your business. By hiring SigmaTen to take care of all your accounting needs, you will be ensuring yourself a step in the right direction.