Being self-employed is an option that many in the workforce have changed into. In November 2022 there were around 4.2 million self-employed workers. If the thought of being self-employed seems challenging, here are some helpful tips to help you on your way! But first, why self-employment?
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What are the main benefits of being self-employed?
Having a great work-life balance is one of the first things you think of when considering self-employment. Deciding on your hours and work pattern means you can be flexible and enjoy your downtime with friends and family on your terms. Work-family balance becomes so much easier!
Another benefit is creative freedom. When working for a big corporation it can often be difficult to utilise your creativity in the exact way you would like. When working for yourself you alone make the final decision which allows the ultimate degree of creative freedom.
Both of these benefits go hand in hand with job satisfaction. Setting your own goals and working hard to achieve them will help create a sense of worth and accomplishment in your professional life.
Here are some things to help you be successful if you are self-employed:
Always put your well-being first
An important thing to remember when self-employed is that you are the business. If you work too hard and get run down or get unwell, there may not be anyone to cover for you and your workflow will most likely be affected.
You must take care of yourself both physically and mentally and make sure you prevent getting burnout by taking on too much work at once. Proper rest and other healthy lifestyle choices – such as following a good diet or exercising – are essential to guarantee your wellbeing and therefore the success of the business.
Always use the best tools and equipment
As well as keeping on top of any training and qualifications, investing in yourself and the business will keep you current.
Exploring the best tools and equipment will help you be successful. For example, if you are a graphic designer you need to make sure to invest in a good laptop and design stylus, among a few other things, in other to produce high-quality work. If you are a hairdresser, as another example, it is vital you invest in professional equipment such as hair dryers or scissors which ensure you are working as efficiently as possible. Going for the cheaper option might become more expensive in the long run!
Learn how much your work is worth
A good place to start is by looking at the going rate from others in the same industry as you. This can give you a good starting point for figuring out your hourly rates or a flat fee.
It is important to ask for competitive pay but not price yourself out of the market by either being too high or too low. You can do some research online, or even join communities on social media where you can simply ask what other people in the industry are doing. Never be scared to ask the questions!
Learn how to say no
It can be really easy to fall into a pattern where you keep accepting new work, especially when you are starting your new venture. However, the ability to refuse work is a skill that you can learn.
To keep on top of work, create a spreadsheet with the work you have on hand and their deadlines. That way you can see when you are busiest and decide whether you have the time to dedicate some hours to a new client. Similarly, saying no to new work to ensure you have time off is also important to factor in and your spreadsheet can help with that too by blocking off days off and holidays.
We hope these tips help you in your journey to self-employment! No one said it would be easy, but starting something new is always the first step to success!
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