Being your own boss: things to think about



 

Have you ever dreamed of having your own business and becoming your own boss? Dreams can come true and we offer you things to consider if you’d like to fulfill your ambitions. Whether you hope to bring joy to people’s lives through interior design or you see yourself managing other businesses’ social media, take a leap of faith and go for it! (But make sure you read this article first!)

Register yourself as self-employed

There are tax implications with going self-employed, so it is important to go through the correct channels to ensure that you won’t end up being fined or potentially incarcerated for not paying the right amount of tax or being seen to be purposely evading tax. There are different rules depending on where you live, so seeking the advice from an independent advisor is worthwhile. Many offer a free initial consultation. Furthermore, look into any workshops that may be happening in the local area related to starting your own business as they are likely to be led by people with extensive knowledge in this area.

Sort your business name and logo

When you know what you’d like to do and the area in which you’d like to be active, it’s time to consider your business name. Once you have thought of one, do a quick search on Facebook and in local directories. Does anyone else have that name or a similar one, which could lead to confusion? If so, abandon that idea and start again. Websites, like namecheckr, can help you with names as they check all social media platforms to see if your desired name has been taken. It is quick and free to use. After finalizing the name of your business, your logo is next. Try to make it eye-catching and memorable, but with only two or three colors. There are free logo makers available readily online but do consider that others may have similar designs and it could look unprofessional. Putting a shout out on social media for help with logo design and recommendations is a great idea. Many new start-ups are willing to do them for reduced prices.

Find adequate insurance

Covering yourself for all possibilities is of vital importance. Public liability insurance is particularly worthwhile and something you can shout about having. Furthermore, if you have a works van and equipment, check out Money Expert to compare insurance policies and find the best deal for you. If someone were to steal or damage your van, this could render you out of work for a significant period of time, so make sure you choose the right cover that will help you in all eventualities. It is worth speaking to friends and family members for their recommendations too.

Advertise your services

Advertising is worthwhile. Setting up accounts on social media allows for a significant amount of free advertising. Hosting competitions can be great and reach a significant number of people in a short space of time. Joining in with local chats on Twitter using hashtags such as #norfolkhour is really important and can get your name out there pretty quickly. Networking events within the local area are useful too. However, whatever type of advertising you choose to use, the best form really is word of mouth. Do your job properly, ask for reviews, for example on Facebook, and you will find the work flooding in soon enough.