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7 Tips To Help You Become Self-Employed This Year by newtohr.com

Don’t Wait Any Longer: 7 Tips To Help You Become Self-Employed This Year

As human resource professionals, we often know the ins and outs of a business better than many business owners. If you’ve considered ditching your 9 to 5, or if you’re struggling to find the perfect fit for your skills in the corporate world, why not exercise those hr skills by becoming self-employed?

As a human resource specialist, you’re great at managing people and knowing what it takes to motivate employees to do well. Why not extend that talent to create a business that will benefit yourself?

Studies show that small business owners are happier than the rest of us. In fact, 77% of micro business owners say they’re extremely happy and want to continue down the self-employment road. Doesn’t that appeal to your emotional side and your logical side? Doing what you love is a great way to increase your productivity and chances of success.

When you’re ready to make the change, bring your HR skills, and use some of these seven tips to become self-employed:  

1. Find that Passion That Will Turn a Profit

You may already be a pseudo-personal trainer or a hobby writer, but have you thought about turning your side-gig into a full-time business?

Some of the happiest business owners are people who follow their passions. If you’re more comfortable in activewear than a button-up, make that your motivation to make a change.

Some of the most common self-employment careers that start as hobbies include:

  • Freelance Writing and Marketing
  • Photography
  • Social Media Manager
  • Hair or Makeup Artist
  • Personal Trainer
  • Business and Sustainability Consulting
  • Landscaping
  • Baking

2. Decide if You Need Financing, Then Secure It

Many startups don’t require more than a bit of know-how and determination, but others require a bit of cash to get you going. If this is the case, decide what you need and how much it will cost then find yourself some funding. You may even need a small amount of money for equipment like a laptop, hand weights, or a few new lenses.

  Some ways to secure startup funding include:

  • Borrowing from your savings
  • Friends and family
  • Small Business Administration loans
  • Micro loans through the SBA or non-profits
  • Digital loan angels
  • Crowdfunding like GoFundMe

3. Design Your Business Plan and Set Goals

You need a business plan that will grow with you. You may need to revise your plan a couple of times before it’s perfect, but you still want to start with a plan. Make sure you brainstorm as many aspects of your business as you can, from pricing to delivery, to hiring your first, fifth, and twenty-fifth employee. Don’t forget your HR development strategy.

You will also want to make goals for yourself and your business. Decide what you want to accomplish within the first week, first month, first quarter, first year, and beyond. Think about how many customers or clients you want to serve and how you can keep them coming back.

4. Choose a Business Name and Start a Blog

We squeezed two steps into one with this. Spend time thinking about your business name. Imagine your customers reading it and saying it aloud. If a customer can’t pronounce a business’s name, they’re less likely to recommend it. Don’t rush the naming process. Ask for feedback from friends and peers.

Once you have a business name, you need to begin thinking about your website. Try to find an e-commerce service that allows you to sell, book clients, and use content marketing. This will save you time and energy. 

Save some money with your blog, use stock photos. People are 96% more likely to read a blog post with a photo than click on one without. If you’re a personal trainer, there are amazing options for high-resolution free stock fitness photos. If you’re a dog trainer, there are photos for that, too.

5. Keep Your Numbers Straight

One of the most common mistakes new business owners make is that they don’t keep track of their numbers. They get so excited about making their businesses successful that they don’t take the time to record every sale and every bill. 

To accurately evaluate your business, you have to know your numbers. This can tell you what you’re doing correctly and what you can improve. You also don’t want to get caught in a tangle with the IRS when tax time rolls around.

6. Meet People and Grow Your Team

Never miss an opportunity to meet new people. You never know who your next client will be or when you may need an ally to outsource to. As your business grows, you can also find your next superstar employee laboring away stocking shelves or making sure every inch of the elliptical is disinfected.

Luckily, you’ve been in HR long enough to know the signs of a dedicated employee. Use this to your advantage.

7. Take Some Downtime and Enjoy Your Freedom

While you will ultimately work more than the average employee, especially when you’re first getting your business off the ground, you will need downtime. Make sure you take some time to yourself to reflect on how far you’ve come from the beginning.

Celebrate your victories and remind yourself of how lucky you are to not punch the time clock.

Starting your own business can be frightening. You’re risking a lot, but for most business owners, it’s worth the reward. So, invest in some new compression leggings, and find a way to make your dream a reality, and don’t look back!

© New To HR

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