So you’ve taken a leap of faith by sticking it to The Man and handing in your notice. You’ve decided to go it alone! Become self-employed! Start your own business! High fives all round!
Then reality smacks you in the face and you realise you have no idea what self-employment looks like or where to even start. Fortunately, there are plenty of people who’ve gone before you, so here are six things you should think about when you decide to go it alone.
Ask for help
No woman is an island, and this is especially true when it comes to starting your own business. Admit that you don’t know everything/anything, and connect with a business owner or three that does. You’ll be surprised at how many entrepreneurs want to help budding business owners out because they’ve been there, done that at some point in their lives too. But don’t waste their time. Prepare some well-thought-out questions that show you’re serious about this business malarkey and are prepared for the hard yakka that comes with it. Don’t ask things like “What are your secrets to getting rich quick?” They will shake their heads and think you’re stupid. Do ask questions like “What does your business journey look like?, “What mistakes have you made along the way, or do you have any regrets?”, “What has been the best thing about going it alone? The scariest? The hardest?", “What have you learned most about yourself?”, “What do you know now that you wish you’d known back then?”, “What do you do to unwind?”, “What software or apps do you use to make your life easier?” But most importantly, make sure you pay for lunch.
Get a website
It doesn’t matter if your business idea is very tangible (crochet dinosaurs anyone?), if it’s not online, no one will find you (with the exception of your mum). A website doesn’t have to cost much; if you’re technically-savvy you can even make your own on platforms like WordPress. If you’re looking for something a little more professional, be prepared to pay for it (cheap doesn’t usually mean the best). If you’re broke, think outside the box. When I first started out, a guy made my website in exchange for 24 articles over a year for his own website, plus two articles a year to keep my website on his server.
Get an accountant
“An accountant is a waste of money!” they said. “Just do it yourself!” they said. Then they got a $30,000 tax bill in the mail because they charged GST on their invoices and never passed it onto IRD. I’m not even kidding. I’m a copywriter. Writing is what I do best. And I like to think that when someone needs content for a new website, they’d prefer to ask someone who knows what they’re doing, rather than attempting to do it themselves and making all kinds of apostrophe-related crimes in the process. I feel the same way about my accountant. He gets numbers. He’s done this for a very long time. And at the end of the financial year he does my taxes in a fraction of the time it would take me to fiddle around with them and realise I’d put two numbers around the wrong way at step one, and have to start all over again. Hire professionals to help you with the things they do best. Yes, it’ll cost you. But it could also save you far more in the long run, especially when it comes to figuring out confusing stuff like if you should be GST-registered, whether you need to become a limited liability company (say what?), or what stuff you can claim tax back on.
Get dressed
When I first told my friends I was quitting my job and working from home, the first reaction from many of them was, “Awesome! You can stay in your pyjamas all day!” Do not stay in your pyjamas all day. The act of getting dressed for work, even if you’re not planning on leaving the house, will help you mentally get into the swing of things. Pyjamas are for after work. And maybe the occasional casual Friday. (Disclaimer: I have worn my giraffe onesie a couple of times when I was sick.)
Create a dedicated work space
Home is meant to be a sanctuary, but that’s very hard to achieve when you work from home too. In much the same way as getting dressed helps you get in the mood for work, an office space that is totally dedicated to your job will help you switch on mentally for work, and off again when you’re done for the day. My office used to be in my bedroom. The first thing I saw when I rolled over all bleary-eyed searching for the snooze button was my computer. The last thing I saw as I switched my lamp off for the day was my computer. My computer was a constant reminder of unfinished work, deadlines and rejections, and it became very difficult to relax, unwind, sleep and participate in other bedroom-related activities, simply because I was also still technically at work. Do not perch on the edge of the dining table either. Dedicate a space to just work, and keep work out of your other spaces. If working from home is too claustrophobic, think about a shared space or camping out for the day at your favourite café.
Find someone who’s on your team
Going it alone is one of the scariest things you will ever do. You will need sounding boards, hugs, high fives and alcohol at various stages of your business career, so make sure you’ve got at least one person who can be your go-to shoulder to cry/whinge/vomit on. It could be your partner. It could be your bestie. It could be the dude from your local alcohol shop just downstairs who knows your favourite tibble when you need a stiff pick-me-up and he’ll even deliver. Bounce business ideas around with them. Complain about your imbecile clients with them. But most importantly, celebrate your wins with them. When I got my very first self-employed paycheck, Husband and I blew it all on a nice dinner. At Christmas time I was sad that I wouldn’t have an end-of-year party, so my husband suggested that the Chief Boss of All Things (me) and Chief Ideas Officer (him) go out for dinner on the business. And when Lingo turned 365 days old, my friends threw me a surprise first birthday party, complete with balloons and cake. You cannot travel this journey alone – and it’s much more fun when there are people around you who are supporting you along the way.
Erin Reilly: Writer by trade, dreamer of travel, most at home at the beach, lover of giraffes, runs a words business called Lingo – www.getthelingo.co.nz.