Starting your own business is hard work. Long hours, sleepless nights and the occasional meltdown are part and parcel. But if you’re determined to get out the 9-5 race, then it’s time to face up to the challenge!
In this series, I want to show the diversity of self-employment. When we think of a small business owner, we may conjure up an image of the local shopkeeper or AVON sales rep. But the world of business is expanding faster than we can keep track of – so why not see if something inspires you to break out of your 9-5 role and into something more exciting?
Freelancing and reality
Let’s be real for a moment. Statistically, most businesses will fail. You need a solid business plan and a structure to follow. And then you need to actually follow it. You’ll encounter hurdles along the way – from financial limitations to time-management. It’s tough out there, folks.
But in order to even stand a chance, you need a business idea to begin with. Whether you’re looking for a side-hustle alongside your normal job or create an at-home empire, here’s some ideas to get you started.
More popular than ever
Approximately on third of those employed in the UK now work “freelance” or on a contractual basis. Essentially, this means they work on either a fixed project or hourly fee, where they provide their services in exchange for payment. To succeed in this industry, you must have an area of expertise which can be monetized.
In order to succeed, you need to first build a portfolio showcasing your skills. No one will hire you unless you can demonstrate proven ability in the field. From designing logos for bands to ghost-writing a novel, the work is readily available. You should also set about acquiring a good number of positive reviews to showcase your abilities, too.
Take the first steps
To get started, take on the cheap projects and complete them to perfection. Treat each gig as though you’re being paid double the actual amount. (Maybe triple in some circumstances.) Collect the glowing reviews and develop yourself in the industry. The more projects you complete to a high standard, the higher you can raise your fees. But this comes with time, and a lot of low-pay out projects need to be completed before you can move past your initial pricing.