Self-employment is the American dream for most business professionals. The idea of being your own boss and working how you want and when you want all sound desirable. However, there are many facets to consider before making any type of change in your job or vocation. George Schofield, speaker and author with a background as an organizational psychologist, has provided several key questions to help determine if self-employment is right for you.
- Why now?
There are a lot of valid reasons why the timing might be right to delve into the world of self-employment. You’re retired and want an additional income stream beyond your 401K or pension. You’re unemployed or unhappily employed and self-employment seems a reasonable alternative. It is crucial to understand your motivation and if that motivation is sustainable?
- Am I ready to commit?
Commitment to self-employment means not just money, but also time, energy and focus. As liberating as self-employment can sound, it can be hard work and require much more time than the typical 40 hour work week. It can also require a significant, perhaps ongoing, financial investment. Are you at a point in your life where you have the money, time (especially if you have another full-time/part-time job or a family to support), and energy to make your business a success?
- Is this a good match for my aptitudes and interests?
Self-employment usually demands a much broader and deeper range of skills and priorities than having a traditional job. Just because you’re great at your current position or hobby doesn’t mean you can translate that skill set into a sustainable business. The failure rate for startups is high, but not because the owner wasn’t skilled at their job. They just weren’t skilled at running a business.
- Am I moving away from an unhappy situation?
You may feel stagnate in your job and starting your own business seems like a way to challenge yourself while also saying goodbye to a bad boss, troublesome colleagues, or a boring routine. However, the wisest changes are focused on going towards something rather than running away from something. You could easily trade one set of challenging circumstances for another.
- Have I laid the right groundwork?
Running your own business requires a lot of research. You’ll need to investigate the legal and practical aspects of business ownership, from setting up a business model to getting the appropriate licenses, permits and insurance. You’ll also need some type of financing and a marketing plan.
Lastly, you’ll need the help of various professionals, starting with lawyers, accountants, bookkeepers, bankers, and an IT professional. How will you promote your business, interact with consumers and beat out your competitors? If you don’t know how to do these things yourself, do you have a wide enough network of trusted advisors to help you find the people who can?
Fortunately, Heritage Office Suites is waiting and wanting to join your team of trusted advisors as your official workspace provider. Heritage Office Suites is Round Rock’s premier workspace solution dedicated to helping you run your business. We offer the space, place, and support that your business needs for that professional look and feel it deserves. Our committed, hard-working staff are here to answer your calls in your company name, provide reception services as well as mail receipt, call forwarding and screening, general administrative services, color laser printing, fax services, presentation and booklet preparation, parcel packaging and shipping, and even travel accommodations. Officing with Heritage Office Suites also means that you have an instant connection with other self-employed business professionals with a wealth of knowledge and experience. There are instant connections, support, and referrals all around you.
Our serviced office space and virtual office solutions not only provide the network of support you need, but a prestigious place “to do business” as well. Our desirable, easy to access location gives your business a professional mailing address and provides a look and feel of distinction it deserves.
Learn more about how Heritage Office Suites can get you started on the path of self-employment by visiting us on the web at www.roundrockoffices.com or calling (512) 377-9010.
Source: Austin Business Journal
