10 Questions to Ask if you are Thinking of Self Employment

Thinking of self employment –  Many people do but then waver because of the many possible reasons it might not work out.

I have been self employed for a long time now (10 years plus) and I can, hand on heart, say it is the very best thing I have ever done in relation to work. 

But, before you take the leap there are, I believe, a host of questions that you need to ask yourself and to consider most carefully and thoroughly if you are thinking of self employment.  Self employment is not for the feint hearted or the unprepared.  

 

thinking of self employment

 

10 questions to ask yourself if you thinking of self employment?

  1. Why do you want to be self-employed? Get this really clear in your head so you can stay motivated. Is it for more flexibility or family time or because you prefer independent working?
  2. Do you have an absolute passion for the self-employment you are taking on? This is absolutely key 
  3. Are you are self motivated hard worker? Self employment requires massive commitment and a lot of hard work, especially at the start.
  4. Have you explored your market properly checked for competitors and if their is a need for your service/ product.
  5. Do you know all you need to know about what you are offering – could you do with some extra qualifications/experience first?
  6. Do you have a works pace and place that is fit for purpose? I work in a corner of my kitchen it is very far form ideal.
  7. In the short term finances may be tricky, do you have savings? – these can be a great buffer as you get off the ground 
  8. What about income protection No employer to look out for you when you are self i employed so it really is crucial to look after yourself in regard to pay when you are sick. It is one of the least bought insurances in the UK but critical if you are self employed.Income protection pays out a percentage of your salary if you’re signed off of work through illness or injury (usually 50-70%, depending on the amount you choose when you buy it, but some policies do pay out 100%).You need this
  9. Do you have a peer support group to give you guidance and to as act as a sounding board? Creating alliances with people in similar professions can be a real asset now only in practical terms but also for ideas and emotional support. Allies and people who really do get it can be invaluable and a huge comfort.
  10. Are your family and friends behind you and supportive? This really can make a huge difference and you may well need their encouragement if things get tough.

Are these the sort of questions you have been considering? if not do spend some time thinking them through- they could make all d the difference to you.

 

thinking of self employment

 

Making the leap if you are thinking of self employment 

Once you have explored all the above questions and really honestly appraised if being self-employed is actually right for you then it is time to get yourself organised.  As soon as you are well prepared then do take that leap. It is a big one but I do think, truly, that it is worth it.

Self-employment has bought so much flexibility and so many creative opportunities in my life I would never go back to being an employee. I love being my own beoss. I acknowledgge it is stressful and hard work but it is also so liberating and every day is a new fresh exciting challenge.

 If you are thinking of self employment – Good luck.

 

10 questions to ask yourself if you thinking of self employment is a collaborative post 

 

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