Posted: 8th September 2015
5 things to consider from Anna Goodwin
1. Why is setting up in business the right thing for you?
There are several reasons why you might want to set up in business and be your own boss.
2. Know yourself
Over the 11 years that I’ve been trading people have said to me “You’re ok, you work for yourself.” They see the flexibility I have and think that my life is easier than someone who is employed. In some ways it is easier but it can be more stressful.
Before taking the step towards self-employment its worth asking yourself whether it will suit you. Ask yourself some searching questions:
It is important to be honest with yourself at this stage as over the years I’ve met lots of people who I feel would be happier on an employed basis.
I would recommend keeping some employed work while you get established to give you a financial safety net.
3. Have an idea
This is your starting point.
The aim when working for yourself is to do what you most enjoy and make a living from it.
There may be something you’re passionate about, you’ve identified a gap in the market or you may have a skill that you can convert into a business.
I was always flummoxed when trying to connect my business with my passion as I really enjoy colouring! I have always thought how does that work when I’m an accountant? However, last year I started writing and drawing Anna’s Simple Accounting Guides. I did this using A3 paper and felt tip pens and I thought I’m finally using my colouring in my business!
4. Market research
Having an idea is all well and good but you need to know that there is a need for the product or service.
The questions to ask yourself are:
It’s possible to survey people to see if they would buy the product/service and also how much they would be prepared to pay. This survey can be done online or face to face. It’s a good idea to ask what they think of your idea; would they buy it?
5. Sort out a name
This name needs to be memorable and easy to spell. I have met up with potential clients who have had to explain why they have chosen a particular name and what the name means. If it is so confusing that it needs explaining it won’t be attracting customers to you.
Before you decide on a final name check that the domain name is available.
I hope you have found these simple tips useful and wish you best of luck with
setting up your business.
If you have any queries then please get in touch.
07711 805 183