Strong points to consider before opting for self employment
Employment can limit us sometimes. We get less than we expect in most occasions but so many people have testified to making more through self employment. How about you? Do you feel tired of your boss bagging you every morning or do you have ambitions and plans that you can only achieve through self employment?
Rashida Tayabali of Leaders in Heels lists down three of the strongest points you should always consider before opting for self employment.
1. Have a clear idea of your strengths and weaknesses
Often you want to opt for self employment but have no idea where to begin. You may or may not have ideas about the type of business you’d like. Start by sitting in a quiet room with a piece of paper and a pen. List down your strengths in one column and your weaknesses in another (or things you don’t enjoy doing). Then list your expertise, for example, you might be highly skilled in writing business plans or writing web copy.
Complete this exercise over a couple of days, giving your brain time to absorb the information and come up with a few more things you hadn’t thought of. After you have completed the list, match your strengths to your expertise. This will give you an idea of what niches you want to be positioned in and make your personal brand stand out clearly. For example, you might enjoy business strategy and at the same time be skilled in writing web copy. You can position yourself as an expert in both of these niches to define what type of business you want to be in.
2. Study the market and your chosen niche
Once your list is complete, have a mosey around the net and Facebook for the types of things other experts are doing. Reviewing their websites will give you an idea of the type of wording used, design expectations, email capture methods for your own business. Jot down any similarities or differences you see.
How do you find these experts? Use the keywords you’d like to be found for in Google and see what names and businesses come up.
Facebook is becoming an excellent method of providing value to potential customers by interacting in the comments or posting your own questions. Join a few business groups to start with – look for groups using the search function. Don’t spend more than half hour going through these groups. Contribute by sharing your knowledge generously and be an active member. Lots of opportunities also get shared in these forums so become a familiar name through active participation.
Check out small business government websites like www.business.gov.au for resources or checklists on self employment. Have a list of associated costs so you know how much money is required for self employment.
3. Talk to business owners
Often self employment seems like a great choice compared to working in a job. However, don’t quit your job just yet. If you can start a part time business around your existing job than it eases the stress of trying to generate an income straight away. Talk to other business owners about what it really takes to start a business, the money required and what other things are necessary. For example a lot of businesses are using Facebook pages to generate interest in their business before actually launching a website. This way they’re working with a captive audience interested in what the business has to offer when it comes to selling their products or service. You can also use low cost Facebook ads to gauge levels of interest in your target audience.
Chatting to other business people will also give you ideas on what not to do. Most people are happy to give you advice and share with you how they went about self employment. Talk to friends and family about your ideas and they might know of other people you can talk to for more information.