It seems quite a while ago I took the leap into full time self employment. The first 8 months were fabulous (although cushioned by savings).
So what have I learnt so far?
1) Always be yourself – all of my current clients have come from word of mouth. Either via other clients or recommendations from twitter or friends. It has helped that I haven’t gone for a corporate or overly salesy approach to business but one where I feel natural.
2) Accounting – I go through my accounts on a regular basis and save all invoices and my accounting spreadsheet. Saving back 30% for tax and national insurance before I take a wage. I am super cautious about getting that bit right.
3) No matter what you do you need passion – I love what I do and the fact that it came from something I loved doing already is a huge bonus. When it doesn’t feel like work and you get a really good result it’s like your child doing something super dooper.
4) Regardless of you loving your job time management is a requirement if you don’t want to get overly distracted. My line of work means being social. My family need me to be there for them. Getting the balance right is hard work and requires 3 diaries in our house but that is what works for us.
5) Know your worth – one friend said to me ‘If you are happy with what you are earning then that is what is right for you’. For my business self worth vs competitor rates is a very difficult compromise. I have a niche market that can’t necessarily afford the rates of my competitors. However you cannot afford to undersell yourself and be pushed from the market and being that ebay cheapie equivalent.
Have you taken the leap to run your own business? What tips would you add?