In this article, we’ve compiled invaluable wisdom from five experienced freelancers, entrepreneurs, and self-employed individuals. Their diverse backgrounds and journeys offer a rich tapestry of perspectives on what it takes to thrive in the world of self-employment. Whether you’re considering freelancing as a side hustle or contemplating a full-time entrepreneurial venture, these insights will provide you with crucial considerations to ponder before stepping into the world of self-employment. So, let’s dive into, “Consider This Advice Prior to Following The Path of Self-Employment”!
Research: A SWAT Analysis is Key
“Marketing Research Strategy Consultation is key and critical to starting any business. Many people love the grand scheme of ideas but have no market research and have no measurable equation to ensure their business/product/brand can survive and thrive profitably. Scaling your business has to start from the point of idea creation this is where the magic sauce creation happens.”
Bentley Didier Entrepreneur/CEO of Global Minority Entrepreneurs
Branding: What Sets Your Business Apart
“Establish your Unique Value Proposition (UVP). Define what sets your business apart from competitors. Clearly articulate the value you offer to customers and how you solve their problems or fulfill their needs better than anyone else. This clear communication will allow your brand to show up in the marketplace with authenticity that customers will be drawn to and trust.”
Renae Williams CEO of CoCoBella Natural
“Branding is your business’s way of saying who or what it is without speaking. Branding is important in connecting your service/product to your target audience. Often times businesses jump without fleshing out their brands message. Knowing the who, what and why of your brand helps you build recognition and loyalty from consumers which ultimately helps your bottom line.”
Wanda Campbell, CEO of Curly Blessed Fly
Business and Operations: It Takes A Village of Skilled Pros
“Register your business name, set up a separate business bank account, get a good lawyer, and accountant/bookkeeper using online software for billing, budgeting and accounting. Setting up a business or side hustle with these basics will set you up for success.”
Judy Musa Partner of MoJJo
The Uncomfortable Conversations
“Have a monetary cushion. I think this is important. All new businesses require an investment of time and money. Don’t put yourself in a whole to get another business started. Be conscious of your lifestyle and what can be adjusted or spend some time saving up to create a little cushion.”
Elaine LaPersonerie, Certified Business Coach and Founder of Wink PR
A Few More Gems From Elaine LaPersonerie
Be consistent: Side hustles are typically secondary sources of income however they usually require more work and time than your day job. In moments of stress or stagnation, stay the course. Remember there is nothing wrong with growing slowly. In fact, it will usually yield more success.
Know your value. Mindset is everything and deeply connected to success. Before you start your hustle, prepare yourself mentally and allow for trial and error. I always suggest to coaching clients to create a daily affirmation that can help remind them of their value and commitment.
Ask for help. I think this is my most favorite tip! This is where you get to pull your tribe in and ask them for some of their magic friend dust. Don’t be shy – tap your family and friends for ideas, connections, resources and advice. They want to see you succeed! And if you really want some good advice – offer them a freebie service in exchange for feedback. There’s no greater feedback than trusted feedback!
We hope that you enjoyed reading, “Consider This Advice Prior to Following The Path of Self-Employment”
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