Being self-employed is both liberating and stressful. On the one hand, you don’t have to answer to a boss, and you can set your own working calendar and manage your workflow as you wish. On the other hand, you live and die by your decisions, and you’re not protected by workplace rights.
As such, starting out as a self-employed businessperson is something the requires forethought, dedication and forward planning – all of the aspects of running your own business that the article below touches upon in order to secure your self-employed lifestyle.
Take Responsibility
The fundamental responsibility of all self-employed individuals starting a business is to understand that self-discipline and motivation are all down to you. You generate your own working hours, which can justify laziness and poor productivity if you’re not vigilant and motivated throughout the week. All the work you complete is not only in your name but in your company’s name – and the buck stops with you, which means mistakes and oversights are your fault. You should therefore watch out for and avoid:
∞ Sloppy and unprofessional conduct
∞ Poor customer service skills in both written and oral communication
∞ Lackluster business processes that take far too long and achieve little
∞ Poor management skills leading to financial ruin
∞ Hubris and over-confidence, which can bring even the best businesses to their knees
With a sound understanding of how you shouldn’t act when self-employed in your own business, you’ll be able to take responsibility of every piece of work you produce, and every mistake you make.
Put in the Right Protective Measures
Secondly, in order to really ensure that your business is performing at the best-possible rate, you need to be aware that it’s not only your work rate and dedication that can risk your business’ profitability and reputation. Legal cases and challenges are also a serious threat to business, with thousands of court cases filed every day across the US alone. You don’t want to be bankrupted by such challenges – so it’s right that you put preventative measures in place, such as:
∞ Finding a lawyer you can trust to help with contracts
∞ Giving customers no excuse to sue you
∞ Writing your own contracts and terms and conditions to suit you
To ensure that you have the money to cover yourself and still keep your business running smoothly, you need to also get general liability insurance online at next-insurance.com. This will cover your assets if something such as a court case were to take place.
If you do all of the due diligence steps outlined above, you’ll be ensuring the longevity and protection of your business into the future.
Time Management
When you run your own business, you can choose to work your own hours. Of course, if you’re doing something that you’re incredibly passionate about, you’ll probably be over-working rather than under-working. Your business, in some significant way, becomes your life – and if you fail to properly account for time management and the equal distribution of your resources, you can end up burning out. Make sure that you bring in extra staff if you feel you’re a little overwhelmed with your workload, and be patient as you watch your business slowly strengthen and grow.
These three points are important for those who are looking to set up their life as self-employed business owners who work on their own projects long into the future.
Featured image by by bruce mars via Pexels.