For some, becoming self-employed and succeeding at it is a dream come true. For others, working for themselves could be something they have fallen into as a result of redundancy or the risk of losing many hours in their previous role. There are many reasons why someone is self-employed, but for everyone, it is important to make a success of it. Continue reading for our top tips.
Know What you are Doing
If you are entering an area of work you have not previously been involved in, it is vital that you do your research beforehand and know exactly what you are doing. You may have experience in running a business a certain way, but all industries are different. It might be worth looking at local training centres to see whether or not you are able to undertake relevant training. Be prepared to do more lifelong learning to keep your business going. If this is an enormous change for you, you may even want to consider undertaking a degree whilst setting up the business. The University of Law offers a range of courses, with business management being a fantastic one for potential entrepreneurs to learn the basics and much more.
Do your Research
There are many free and reasonably-priced courses to support you in setting up your own business. Furthermore, there is funding available from several sources to help you too. It is important that you ensure you register your business with HMRC for tax purposes. Be sure to seek advice on the best type of insurance to get as well; considering what might happen in the worst case scenario might seem scaremongering, but it will help you in the long run. As well as doing your research related to the essentials of starting your business, make sure you also find out about the local labour market. If it is saturated with others doing the same thing as you, the clientele base will become diluted. However, if you are confident of offering something unique and superior to others, you’ll need to be able to prove how. Be prepared for a backlash of sorts if others feel as though you have encroached onto their territory.
Once your business has been set it, it is vital to ensure you market it correctly in order to be successful. Having an online presence these days is incredibly important. Your own website should look sleek and professional without masses of text to trawl through in order to find out what you need to know. A call to action should be visible for potential customers to contact you immediately. Social media is vital and being social on it imperative. A Facebook page (and use of their targeted advertising) can help you to reach local people who are your ideal clients. Having a recognisable logo will also help your marketing to be successful.
Networking can be a key factor in ensuring you run your business effectively. It can generate new leads as well as allowing you to ask other people how they are successful in doing certain things. It is a great, low-cost way of getting your name and your business name out there as well. Networking does not just have to be in person. There are many opportunities for meeting likeminded business people online with regular hours happening on Twitter, for example, #NorfolkHour.