The A to Z of self-employment - part two
- Sep 28, 2011
In the second in her series of guest blogs, Antoinette Oglethorpe gives business tips from F to J...
F is for Financial Buoyancy
Research shows that people who move easily and successfully into self employment have plans in place to guarantee some form of positive cash flow or income stream during their initial start-up period. A general rule of thumb is that people feel they need a guaranteed lump sum that covers six months of living expenses. This could be achieved through a range of means e.g. savings, redundancy payment, financial support from a partner, part-time job etc.
G is for Going it Alone
When you’re self-employed, you’re on your own. You need lots of self. You must be self-starting, self-inspired, self-directed. When times are difficult and inspiration gets thin, the ability to bounce back and get out there again is vital.
H is for Hard Work
Self-employment takes hard work. When there’s only you, you have responsibility for everything and have to take on tasks that you once considered well beneath your status. Since you’re always in charge, there’s no deferring and you can often be torn between priorities and juggling the many factors beyond your control. People who make a success of starting a business are motivated to work hard. They know what they really want out of life, they’ve identified that self-employment will help them achieve it and they’re prepared to put in the necessary effort to make it happen.
I is for Isolation
In the early days of being self-employed and working from home many people struggle to adjust to not having the office environment and people around them. You need to build around you a group of like-minded people who are in a similar position to you who you can socialise and interact with. And those interactions don’t have to be face to face. With the wonderful technology now available to us, it’s never been easier to engage with others no matter where they are.
J is for Just One Step at a Time
When you’re thinking about becoming self-employed and starting up on your own, there's a lot to think about. So much in fact that people often don’t know where to start. While it’s important to have a vision, focusing on it can have the opposite effect to the one you’re trying to achieve. It can seem such a far way off that it paralyses and demotivates you. So don’t worry about the big picture for now. Instead, think about what would be different if you were just one step closer and what you need to get there.
Read the A to Z of self-employment - part one
Antoinette Oglethorpe specialises in helping business leaders and professionals take control of their careers and realise their ambitions. Her special report on “How to become self-employed confidently & successfully” is available at www.antoinetteoglethorpe.com/taking-the-plunge
Image by abroadjz on Flickr
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