ADVICE: 5 Tips for going Self-employed

Here’s my 5 tips for anyone thinking of taking the leap into being their own boss.

1. Do it for the right reasons.

Going self-employed is a big goal for a lot of people. The thought of earning more money, having your own team of employees and being able to take time off whenever you like sounds like a dream. Whilst all those things are fantastic you must be prepared to work bloody hard. Longer days spent on the tools and then getting home to a mountain of paperwork and obviously there’s more risk involved. So really think if you

want the added pressure of running your own business.

2. Get insurance.

Although you take your time, plan everything out and take precautions the time will come when something goes wrong. Whether it’s a fire, water damage or an injury to you, your employees or the general public, you need to be insured. You never know when an incident will occur, and you need all of the legal and financial help you can get.

3. Manage expectations.

Managing expectations is a massive part of being self-employed. Your customer is always going to have seen something on the internet, Pinterest or Instagram and want it in their property. Now although as skilled tradesmen we will always do our best for customers, sometimes it just isn’t possible, whether it’s because of budget or building issues. You need to be able to say “I’m sorry but that isn’t possible” to your customers and explain to them why and if you can give them an alternative.

4. Try and invest back into the business.

I know this point will be harder for some people than others but if you can try an invest a percentage of your income back into the business. Whether its 5%, 50% or even more if you’re able too, use it for advertising, tools, equipment or anything else that will help your business grow.

5. Make personal time.

Whether it’s spending time with family, friends or your favourite hobby, make time for yourself. I understand that your new business is your baby, I’ve been there, but you need to make time for yourself and your family. Going self-employed may be your dream but at what expense. You need to think about your family and what impact it’s having on them and of course your own physical and mental health. Trust me, all the hard work you put into creating a company will mean nothing if you lose everything in the process.

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