| Should you give it
a go? |
Many people
consider self-employment, but most of them don't actually take the plunge. I think that's
probably a good thing, because working for yourself isn't an easy option and many small
businesses fail in the first year or so. However, you can succeed - I've been going since
1977 and I have lots of self-employed colleagues. There are good times and bad ones,
though, and the bad ones can be lousy. Despite these awful warnings, I wouldn't go back to being employed
without a real struggle. Indeed, some of us may now actually be unemployable, since we've
been used to independence for so long! There's no doubt that it's an extremely satisfying
way to earn a living, provided you can actually do the many things that are necessary.
Please don't take anything
in this section as advice to become self-employed - or not to become self-employed, for
that matter. The decision has to be yours, and I think you should consider it very
carefully. |
| Some important conditions |
I think these are
close to being essential. If you haven't got all of them then it'd be sensible to do
some homework. |
| Having
something to sell that people will actually buy |
You need to be
able
 | to turn out a good product or service |
| with consistent quality |
| at a price that people will pay |
| that will make enough profit for you |
|
| Getting
the marketing & selling right |
You have to be
very clear about
| who is going to buy from you |
| how you are going to make them aware of you |
| why they should buy from you, not your
competitors |
| how you are actually going to deliver what
they want. |
|
| Being
sensibly organised |
You'll have to
figure out how to divide your time efficiently and productively between the three vital
functions of selling, producing and administering. |
| Being the
right sort of person |
This is the
hardest of all the conditions to define briefly here. One of the big UK Banks suggests this personal
checklist:
| I am self-disciplined and I do not let
things drift |
| I have the full support of my family |
| I am ready to put in seven days a week, if
necessary |
| I can get on well with people |
| I can make careful decisions |
| I can cope under stress |
| I do not give up when the going gets tough |
| I can learn from mistakes |
| I can take advice |
| I am patient and I expect a long haul |
| I can motivate people |
| I am in good health |
| I am enthusiastic |
| I know about the risks |
| I have specific aims |
How many of those could you honestly tick?
If I asked somebody who knows you well, how many of those would that person honestly tick?
It's unlikely to be all fifteen (unless you're superhuman or a very good liar) but is it a
majority of them? |
| Four ways of moving this one on (in the UK) |
I think this is
one of the decisions where you really could use some help from somebody who's qualified
& experienced. |
| Ask
somebody who's done it successfully |
There isn't room
here to do justice to this, but one good way to discover more is to find people who are
successfully self-employed and ask their advice. They'll have some ideas on how to
maximise the pros and minimise the cons. Don't expect them to set you up in
opposition to them, but they might well be prepared to answer the question, 'What do you
know now that you wish you'd known when you started?' |
| Contact
Business Link |
Business Link
provides training, information & advice to UK Business and has offices all over the
UK. A good place to start is with the Small Business Service, which the government
has set up to foster and support businesses like the one you're considering. There's
masses of useful information and links to individual help. |
| Ask The Prince's Trust (if you're young
enough) |
If you haven't
yet got to your thirty-first birthday, then you might get help from The Prince's Trust. They say: "The Trust aims to help young people
who would not otherwise have the opportunity to develop their self-confidence, achieve
economic independence, fulfill their ambitions and contribute to the community through the
medium of self-employment"
The Trust will help you to put together a
Business Plan and will then assess it. If they feel you should be supported
then they'll lend you some money for your start-up costs and give you three years of
support from a Business Mentor (I'm one of them). Trust businesses have a good
survival record, mostly because of the help given by the Business Mentor. |
| Talk with me |
I can steer you through the decisions. |
