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Tips for success in self-employment

Readers Lounge - By Derrick Oluoch | May 22nd 2020 at 07:50:00 GMT +0300
Keep learning and improving (Shutterstock)

Starting a business is both exciting and scary; while you hope you will be successful, you also worry that things might not go according to plan.

No doubt, being self-employed can feel like the best thing in the world but it can also cost you a lot, including sleep.

Being successful in self-employment isn’t guaranteed but with well laid-out plans and determination, you can hack it. Here are some tips to help you

Have limits on your time

Be it that you are working from home or that your smartphone is your office, you have to know how and when to close your shop for the day.

You don’t have to work through the night. You can be more realistic with the deadlines you set with your clients. A good way to go about it is to give yourself and your clients a schedule and ensuring you stick to it.

Call it a day at a reasonable hour and if possible, get a separate phone for work only. This way, you’ll be able to avoid instances where your work creeps into your ‘me’ space at the expense of your creativity.

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Manage your money

Yes, all that money is yours. But you don’t have to go wild about it. It is a no-brainer that you need to put some amount aside to cushion you during the lean times.

Also, you need to have an elaborate budget for your work expenditure and taxes as well as your ‘wages.’ Failing to take charge of your finances is a sure path to failure. Ensure that you have it all according to plan. And avoid spending on things that are not part of your plan to meet your goal.

Keep your goals in mind

To be successful in self-employment, you need to have a clear direction of where you want to take your business.

Having a clear direction doesn’t necessarily mean setting financial targets. However, it includes setting goals of where you want your business to get to, and carefully looking at every step towards achieving your target to ensure that you ultimately get to your goal.

Have an elaborate budget (Shutterstock)

Whatever it takes, be you

The current business world is dominated by corporate blandness. Having a little personality and individuality can give you the much needed upper hand as clients are considering dealing with entities they can directly interact with without cumbersome bureaucracy.

Don’t let self-righteousness pump you into being someone you really aren’t as this will, in no time, lead you to the trenches. Be psyched up, be confident but also, be you.

Flow with the currents

Don’t sell the same stuff you were selling seven years ago lest you get left behind. Keep learning and improving; the market doesn’t stand still, so, don’t either.

Go where the eyeballs are, online

Today, people spend a lot of time online, meaning, if you want to meet them, you have to be online too.

Establishing and maintaining a robust online presence is now affordable and you shouldn’t have an excuse for not having a great online presence if you are self-employed. Have a great website, social media presence, great e-marketing, and you will sure go a long way.

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