How to Become Self Employed

Want to know how to become self employed?

Here are several important steps to check off before you take the plunge. Becoming self-employed is a wonderful thing, but as you transition you'll want to avoid some common pitfalls.

I hope you find this article on how to become self employed helpful.

Enjoy!
Adam

Step 1: First ask, "Why Do I Want to Become Self Employed?"
The answer to this may seem obvious. Nevertheless, spend some time clarifying the "why" and "what"; it will pay off in the long run and keep you from taking wrong-turns and getting stuck. Here are some questions to guide your thinking:

• Why do I want to do this? What's my true motivation?
• How much money do I want to make?
• How many hours do I want to work?
• How will becoming self employed fit into my overall life?
• What will I be contributing to the world?

Do not rush through this step.

Here's why you should ask why before investing how to become self employed:

Without a clear vision of how you want your new business to fit into your life you'll simply trade one job for another.

Instead of working for someone else, you'll just work like a slave in your own business! You'll get sucked into doing the work of your business instead of creating systems to run the business for you. (See step 2 and 3 for more.)

Step 2: Watch Out For the Entrepreneurial Seizure
In the E-Myth: Why Most Small Businesses Fail, Michael Gerber discusses the phenomenon of the entrepreneurial seizure. Here's how it works:

Let's say a person works for someone else and performs a certain task brilliantly. As an example, let's say he makes widgets. After a while he thinks, "I'm great at this. I don't need others to tell me what to do. I could make widgets by myself. And I could do it better." Thus, he quits and decides to open his own widget-making store. This is what Gerber refers to as the entrpreneurial seizure: once you have the idea in your mind it overtakes you.

But then here's what happens: the widget maker opens his own shop. He's great at making widgets, so he spends all his days doing that. However, he neglects all the other aspects of the business necessary for success - marketing, finance, operations, sales, etc. He tries to do those on the side, yet since he's already working 14 hour days to keep everything going, some things slip. Burnout sets in, but he can't take a break because if he doesn't do it, who will? It's at this point he realizes he has simply traded one job for another. He's stuck.

I do not tell this story lightly. I am trained as a professional coach, and I see this phenomenon with coaches all the time. People go to coaching school and get excited about coaching. Then, they decide to open a coaching business so they can coach full time. Too often, these folks barely make a living since they neglect the other aspects of running a coaching business (marketing, finances, etc).

Step 3: Adopt an Entrepreneurial Mindset - i.e. Create Business Systems That Work For You
Step 3 is the key in the answer to the question "how to become self employed." To be successful, you must think like an entrepreneur and create business systems to work for you. For example, you'll need reliable, repeatable systems to:

• identify potential customers
• communicate with potential customers
• convert potential customers
• take orders/requests
• fulfill the work in a consistent, high-quality way every time
• evaluate your product
• monitor your finances, including invoicing, billing, cash flow, etc
• and more

Notice that "doing the work" is only a small part of the entire system. It's important, but it's still only one piece in the puzzle!

These days, the good news is that the internet can automate so much of these systems for you. I personally use an e-commerce system called Site Built It.

Site Build is an e-commerce system for people who want to create small businesses online. They provide great training and easy-to-use systems for managing the aspects of a web business (market research, finding keywords, creating the site, web hosting, building traffic, analyzing traffic patterns, and monetizing the site through ads, affiliate programs, and your own products.)

The beauty of SBI is that is allows you to become self employed without the risks and costs associated with a traditional brick-and-mortar business. (They charge $30/month or $300 per year for the service). You simply provide the brains and motivation about a topic you like, and they take care of the technical stuff.

To learn how to creating a web-business, be sure to check out the Site Built It Home Page or my full review of Site Build It.

Step 4: Test,Test, Test
Whether you use SBI, another franchise, or build your own business system. . .test your business plan! Then test it again! Do thorough market research, test out out the assumptions in your business plan, test your systems for identifying and converting customers, test out your financial situation to determine how different outcomes will affect you, etc.

Also, test yourself. Are you ready and willing to take on the hat of entrepreneur and manage a business? If so, you could be wildly successful. If not, you'll likely put yourself on a road to burnout and struggle.

Step 5: Take Action
At some point, you'll simply need to take action. Whether that's just a phone call to get the ball rolling, learning more about how to become self employed. . .or quitting your other job entirely to devote yourself to your business. A time will come for action.

So be bold. Reality rewards those who take bold action.

I hope you've found these suggestions on how to become self employed helpful.

Good luck!
Adam

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