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Thursday, October 14, 2010

Want to be Self Employed, Ask yourself these five questions...

Whether you're among the recently unemployed, accidentally acquired a client or just have a burning desire to try something new, being a self employed business owner could be your reality.

I'm not sure if starting your own business is a new trend or not but many people sure desire to be called a business owner, that is until it becomes real...

Being a self employed business owner is not for everyone, self-employed is very different than being employed. The transition from one to the other, requires a lot of self evaluation and alignment of your time, energy, family and a few friends. Without these things it's very difficult to proceed as a business owner.


So here's a simple quiz; Ask yourself with these five questions if you're thinking of taking the leap from employed to self employed.

#1. Are you flexible enough to commit to being on your own...


Once you are in business for yourself, you are now the president, salesperson, accountant and of course the secretary. Not only will you be responsible for all aspect of your business, you must handle them daily while dealing with numerous other unforeseen crisis, especially in the early stages. One luxury of being an employee is that your days and duties are predictable and similar from day to day, with self-employment nothing is predictable or anywhere near similar.

You are the beginning and the end of your operation, the middle could be a good situation or a bad. As an employee, you are rarely involved in any important decision making, however, as a self employed business owner, there is no one else to hold responsible. You make all decisions and whether good or bad, you will have to live with them. This may sound simple, but I've learned, it takes a special person to be secure with thyself enough to one, make any decision and two, to stand by it.

#2. Are you a self motivator...


This is an extremely BIG part of being SELF employed. If you don't work, you don't eat, simple as that.
As an employee, others are in control and get actually get paid for pushing you to do your best. With years of this, most get used to having their actions directed by others. As a self employed business owner you are responsible for getting yourself up and moving day after day, no one will be there to tell you what to do, how to do it or when to do it. Even after the worst day, you can't give up and must constantly convince yourself to keep going. This can be a difficult adjustment, simply because it's all mental.

Are you still considering being a self employed business owner? Well let's continue...

#3. Are you a go getter...

You just can't wait for opportunity to come to you, no matter how nicely you ask (or potentially beg), people will not pop out of the blue and buy your products or service. Most employed people are focused on what their job description is and most likely it doesn't include looking for other opportunities, unless you're a salesperson. As a self employed business owner, the growth of your enterprise is your job. You will have to quickly recognize opportunity, large or small, relevant or irrelevant, in any situation and position yourself to take advantage of it.

Not only must you go after opportunity, at times you must create it. Only a go getter will still see the need and benefit of what they are offering, after hearing 100 No's.
 
#4. Are you a planner...

Procrastination has the potential to single handily destroy all you've dreamed about, as an employee, planning was probably someone else's job to worry about. A self employed business owner must not only plan for the here and now but must also predict the future and plan for it as well. There is no longer the luxury of following someone else's plan as an employee, whether a 20 page or scribble on back of a napkin, you should have some documented agenda, "Business Plan". Creating and adapting to formal plans will be a big part of your operation, and yes your success or demise will depend on it.

#5. Are you able to deal with uncertainty...

In the world of a self employed business owner nothing is certain, from funding, to customers, to deliveries, to technology. It's a plan for it than cross your fingers that it happens environment. Most people function best when they know exactly what is going to occur and to switch to a environment where things very seldom go as planned can be a tough adjustment.

With no guarantees, employed people expecting a paycheck every two weeks, Pay day could be next week, next month or even next year. Can you handle that? This is usually the point when being a self employed business owner gets less and less attractive...

This quiz is merely a self evaluation and if you feel encouraged and say "I can do this" after each question, than you are getting closer to being in the mindset of a self employed business owner. As you take this journey of empowerment, goal setting and accomplishment, you will not be alone.

Yes, some adjustments must be made but all traits of self employment are learned behaviors and once you get that passion for being in business, it's game on from there. The next step isn't what business do I start but how do I get myself better prepared for this journey?
Entrepreneur's Notebook: Practical Advice for Starting a New Business Venture

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