What it Takes to be Self-Employed and Own a Business

Deciding to walk away from a job that pays you a salary, benefits and provides security can be a difficult decision to make. It takes a lot of thought, planning and dedication to make this decision, and it should not be done on a whim. You need to have a solid business plan in place prior to walking away from your current job. Everyone fails at some point during their life, so do not let it get you done should the business not succeed. We have come up with some traits that you need to have to succeed as a self-employed business owner.

Must be Self-Motivated

One of the most important things is the fact that you absolutely have to be self-motivated to be self-employed. If you cannot motivate yourself under supervision at your current job, it might not be the best idea to leave that job and work for yourself. You have to be a self-starter to get the job done and acquire clients. Many full-time workers who have been in their jobs for decades find this the most difficult thing to adjust to when moving to self-employment.

Flexibility is Important

As a self-employed business owner, you must be flexible. When we talk of flexibility, we mean in your job duties and responsibilities. You are no longer working a job at a company with a straightforward job description. Instead, as a self-employed business owner, you have to take on the roles of many employees at the same time to succeed. As an owner, you have nowhere to send issues or other problems that might arise.

Planning Ahead is Key

As a self-employed business owner, you must be able to plan ahead. In your former job, you might have had nothing to do with planning. Now, you are in charge of putting together the business plan and updating it as the company begins to meet its short-term and long-term goals.

Dealing with Uncertainty Commonplace

When leaving your full-time job to start your own company, uncertainty will be commonplace. If you are not good when it comes to uncertainty in business, then consider staying put in your full-time job. Uncertainty will be everywhere as a self-employed business owner. This means that you will not know what is happening from one day to the next in terms of acquiring clients, making sales, or moving products. With this also comes the uncertainty of your customers paying their bills. It might not happen at all.