Tips if you’re self employed

When you first take the plunge and become self employed if can feel extremely daunting.  There is no longer a manager to tell you what you should be doing each day or week – it’s all down to you. It is however extremely rewarding if you get it right and can allow for that all important work/life balance.  Here I have compiled a few hints and tips to help you get a bit more organised, I hope they help.

  1. Set a cut off point in your working day.  If your hours are 9am-5pm then don’t answer emails or calls after this time.  Set your boundaries so that you have time for yourself and
    Don't pretend you have lots of employees if you work on your own

    Don’t pretend you have lots of employees if you work on your own

    you’ll be more productive.

  2. Manage your finances carefully. Allocate one day a week where you sit down and keep your budget document up-to-date so that you’re not overspending.  It’s a good idea to also have a separate bank account so that you can keep your business and personal finances separate.  It doesn’t need to be a business account to start with either.  If you really hate keeping your accounts then outsource to someone who can help you.
  3. Don’t pretend you’re a huge corporate company if you’re not.  If you work alone then market yourself this way and be proud of it, don’t pretend you have a huge team of employees.
    blackboard-583692__180

    Learn, learn, learn!

    People want to work with someone they can trust and that can deliver what they promise.

  4. Keep learning!  This is so important.  Keep reading about what’s going on in your industry, keep up with the software that will enhance your business and attend webinars and courses to learn new skills (there are many out there that are free).
  5. Make sure you have registered with HM Revenue and Customs and that you find out which taxes you need to pay.  HMR&C has its own YouTube Channel with lots of useful free webinars to help you.  it goes without saying of course to make sure you complete your tax return!  If you’re not sure how to do it then invest in a good accountant who can do it for you.
  6. Have a business plan and make sure that you re-visit it regularly to ensure you’re reaching your goals and know what your objectives are for the future.

    Keep on top of your budget

    Keep on top of your budget

  7. My final tip is to make sure you establish a good working routine.  Make sure you allocate a certain day for each of your regular tasks and stick to them. For example I set aside every Friday for my own marketing and admin work.

If you have any self employment advice please feel free to share and if you need any help getting yourself organised then contact me for your free one hour consultation rachel@lighthouseva.co.uk

 

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