Are You Prepared For Self Employment?

Do You Think You Are Prepared For Self Employment?Stop and think. Are you prepared for self employment. A very difficult question to answer for some, a no brainer for others. Seems like everybody is getting self employed these days. All of them seem to think its great. But, before you take the plunge lets look at some of the questions you need to ask.What kind of knowledge or skills do you possess or are willing to learn about the job? The first and greatest problem you will face is there is nobody to guide you, or so it seems. Truth is there are many resources at your disposal. The Better Business Bureau for one. They have a program where retired professionals can mentor you in many aspects of your chosen career. You will also need to do your research. If everybody is doing it, there must be a market, right? Not so. There are thousands of lawn care companies everywhere. I mean what do you need to know to cut grass? Truth is the competition is fierce. The price war is brutal. What makes you so special? What are your strategies? Do you know what kind of equipment you need or how many months you will be without work in the winter. Should you have a partner or go it alone? Now, make sure you know these and other answers before you start. If you feel unprepared, you probably are. Get all your ducks in a row, then start walking across the street to self employment.It is a rare business that does not require some form of capitol investment. Mostly these type of opportunities are internet based. Odds are really good that if your reading this then you have or have access to a computer. What about the software you might need. There are many things to consider here, business cards, advertising, time, the right kind of hardware,or workspace. Be certain you are ready before you take the plunge and quit your regular job.Money will always be a prime concern. Make a careful calculation about the amount and kind of money you need. At a minimum you will need to enough money to keep you going for the first three months. You should also have some buffer money set aside for those unanticipated needs. If you don’t have this kind of money, where will you get it. Sometimes its better to stay in the 5 to 9 grind while you acquire the cash or financing. If like many people now a days you have been laid off, you probably have all the time in the world. Use this time wisely and learn about your proposed business venture.You will not be able to do all the things that make a self employment work, there is simply too much to do. Who is going to do your taxes. Do you have a financial advisor or somebody in the banking industry you can go to for straight forward answers. Will you do all the work yourself or hire out to a sub-contractor, maybe even take on an employee. What about medical coverage. Seriously consider how many other people will be required to run the business.These are but a few of the items you must consider before telling the boss off and striking out on your own. Lets face it, truth be known, some people just are not self made individuals. There are many people who are better suited for the 9 to 5. This is not to discredit anyone, only a point of consideration. Are you ready for this. If so, rock on, its been a great ride for me and I hope it is for you too. Remember, when the going gets tough, get going.