Self-employment is not for everyone. But you know what? You can just give it a go without commitments. So go ahead and test it out. It might just be the best decision of your life.
Step 1 Seize the opportunity
You have skills and abilities that can help you employ yourself. At its simplest, self-employment can mean offering services within your circle: walking dogs or mowing neighbors’ lawns.
Step 2 Add up your operating expenses
Find out what expenses and fees you need to prepare for (for example VAT, the value added tax).
Pitfall
You forget that VAT is not your money.
Step 3 Don’t undersell your work
Pricing determines how much compensation you get from your work. Find out the fair price for your services.
Pitfall
You price yourself out of the game. It's hard to raise prices afterwards.
Step 4 Consider whether you need financing to start your operations
Find out what start-up grant is and what the requirements are for obtaining it. Or could you apply for a loan?
Pitfall
You apply for a start-up grant once you have already started your business or its marketing.
Step 5 Where to find customers?
Think about who needs your services and how you could sell it to them.
Pitfall
You are not making enough noise about your business.
Your services do not meet the demand.
Step 6 Part-time or full-time?
Your operations can be small-scale and part-time. There are various ways to employ yourself, such as using an invoicing service (e.g., Ukko, Free, Eezy), working in a cooperative, buying an existing business, or registering your own company. Being a full-time entrepreneur requires more planning.
Step 7 How to get paid?
You should receive compensation for your work, but you also have to pay taxes on that income. If you use an invoicing service, payments, taxes, and bookkeeping can be easily managed through it.
Pitfall
Your bookkeeping is sloppy.
Step 8 How to move forward?
If you want to expand your operations, you will need more help. So go ask a pro! There’s plenty of free information and advice around, so just call a business advisor.
Step 9 This wasn't your thing?
No worries, because you can stop your business or part-time entrepreneurship anytime. Just pack up and try the next thing.