Let’s face it, the idea of being your own boss is one which is 50% amazing and 50% terrifying. Having said that, it’s a road that lots of trades take because of the benefits: flexible hours, varied workload and brew breaks on your watch. It’s no surprise that the idea of independence is so appealing. However, there are a few things you need to keep in mind if you’re thinking of taking a leap of faith into being your own boss.
We’ve put together a bit of a starter pack of advice.
Become a networking BOSS
Building your own network is one of the most important things you can do to get yourself and your business off the ground. Firstly, customers. Whether these are clients you’ve worked for previously and built good relationships with or newbies, they are the key to the success of your business.
The internet isn’t just for videos of cats tripping up small children. It’s also fantastic for helping you build your customer base. Facebook allows small businesses to advertise their services and reach the right people. Sites like ratedpeople.com and checkatrade.com mean you can register your contact details as a professional and have your services reviewed – just keep in mind that memberships fees may apply.
In terms of a working network, it’s always good to have a couple of trusted people on-hand who can bring a new skill set to the services you provide. Being able to recommend friends and freelancers to customers will help you grow your offering as a self-run business.
Get down with the pounds
Staying money-savvy is absolutely key if you want working for yourself to be a worthwhile, erm, investment.
Make sure you’re keeping track of your own spending – set budgets for the month ahead, and if these change for whatever reason then take note!
It’s also important to think digital when it comes to your finances. Make sure you store receipts for all your purchases for your tax returns. But instead of using your van’s glove box as your filing cabinet, why not try out one of the many apps that allow you to scan, track, store and manage receipts? Zoho and Wave are just some of these.
From 1st April 2019, VAT-registered businesses with a taxable turnover above the VAT threshold will also be required to keep records digitally and use software to submit their VAT returns.
Plan your day
While one of the main advantages of being self-employed is being able to structure your own time and job priorities, it’s good to maintain a routine during the working week.
A common issue faced by those who are self-employed is staying motivated, and having a pre-planned to-do list can help with this.
Keeping yourself organised with time and money will help bring structure to your day, week and month, boosting your productivity and driving your business.
Do you run your own business? What’s your secret to success? Share your thoughts with us on social media @Jewson