It’s a dream had by many; setting your own hours, working from the comfort of your bed, and not having to face that daily commute. Some of us would love to flee the traditional workplace and become our own boss, and while the perks are great; becoming your own boss still requires lots of hard work and commitment…
Do you have an understanding of your financial situation?
The first thing you need to do is sit down and work out if you have the money to get started, and if the business is viable enough to keep functioning and also provide you with a liveable wage. So, before you start planning the setup of your new home office, grab your financial records and sit down with a calculator.
Are you stable and do you have personal discipline?
It’s not just money you need to worry about, but also your emotional state; as your own boss you can’t be easily upset or panic in times of stress. You must still function under pressure and feel comfortable doing so. Being your own boss means having full responsibility for meeting deadlines, staying organised, and keeping track of money, time, and ongoing projects.
Do you know what you want to do?
Hopefully what work you choose to do is based not only on your professional skills and experience, but on your own personal passion. If you’re able to make a living by doing what you love and doing it well, then you’re winning!
Can you find a good way to transition?
Jumping from traditional work to self-employed work isn’t easy; as your client base grows and the work begins flowing in, you’ll need to find a way to gradually slip into your be-your-own-boss lifestyle. The best way is to start part-time – never jump straight in. Ask your boss for less hours and start your own work on the side.
Can you maintain good working relationships?
Chances are, the job you’re leaving is similar to what you’re about to take on self-employed, so don’t burn bridges and try to leave your job graciously on good terms. It’s good to keep contact details for old professional relationships; they might come in handy on your new endeavour.
At the end of the day, becoming your own boss is, the more you put in, the more you get out. It won’t always be easy, and there will be days you lack the motivation; but the benefits outweigh the risks every time, and you might find that the best person you’ve ever worked for is yourself!
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