It is no secret that these have been tough times the past few years, but even so, the idea of becoming self-employed and starting a business can sound daunting and expensive. Yet it need not be either. In fact, what it can also be is interesting and exciting and fun, especially if you know what to expect and what you are doing.
Here is what to expect and how to go from employee to self-employed:
Begin by taking stock of yourself and your situation. What skills do you have that are transferable and what industries do you know best?
Consider too:
Your answers to these sorts of questions will help you focus and pick a business. If you don’t know what sort of business you want to start, here are a few tricks of the trade:
What you are looking for is something that would be interesting to you, which utilizes your skills, that is not too expensive, and which has potential for growth. Make a list and narrow your choices down.
Once you have some idea of a business that fits your goals and lifestyle, the next step is to analyze your idea. Who will be your customers? Who will be your competition?
There are several ways to form a business:
Generally speaking, the latter two options are preferable because they limit your personal liability and create a business that is separate and apart from you. These days its very easy to get started thank to ZenBusiness and other alternatives to LegalZoom. You will also need to get the proper business licenses and permits from your city, county, and/or state. Start with your city business office and see what they recommend. You should also check out your insurance options, and find a good accountant and lawyer to be on your team.
If you will be seeking outside financing from friends, relatives, investors, or a bank, a business plan is a necessity. But even if you are going to self-finance the venture, drafting a business plan will help you figure out
It is like a pilot’s flight plan – a business plan helps you figure out how you are going to get from here to there.
Most small businesses begin with money from savings, credit cards, personal loans, help from family, friends, and do on. You should also check out Small Business Administration (SBA) guaranteed loans. These loans, administered by banks, offer great terms. (Steve’s book, Get Your Business Funded, Creative Ways to Get the Money You Need lists 25 different sources for start-up funding.)
This is the fun stuff:
It will take awhile to figure out what works and what does not. Make a mistake and learn from it. Follow your business plan, but be flexible. Advertise and market, and then do it some more. You have to let people know you are out there.
As you cans see, starting a business today is easier than ever before -and a lot of businesses exist to help other small businesses. As an entrepreneur, you can take advantage of these to use as leverage to get more stuff done and focus on the things that matter most to you.
PDFelement is fantastic, affordable alternative to Adobe Acrobat! It’s an all-in-one PDF editor which enables you to read, edit, convert, OCR and sign PDF from Windows and Mac.Whether you’re looking to edit PDF files or digitize your business, it is the best tool for the job.
Freshbooks is a great tool for invoicing and expense services, and it helps you remove a lot of headache and logistic work that’s usually involved in this.
MailChimp is simple, intuitive and great for running your email marketing. It has templates that you can use and easily populate with your branding.
CandyBar makes it easy for small businesses to run loyalty programs without paper cards or downloaded apps – as a small business owner, you can solicit feedback from your customers and share those reviews on your social media platforms.
It’s possible to get carried away with trying out all sorts of new tools – so at the end of the day, remember to focus on the fundamentals.
Most of all, have fun. Becoming self-employed is one of the great experiences in life!
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