by: Jeffrey English
When you are looking at your career options you will often feel like quitting your job and working for yourself. But ask anybody about the time spent being self-employed and they will often relate horror stories that will give you nightmares for months to come. However, if you go into the entrepreneurial or freelance sector with your eyes open, you should be able to make a success of your new career with fewer problems. Whether you are looking for self-employed loans or filing business taxes for the first time, you will often feel life is extremely difficult working for yourself.
1. What is your Goal?
The first step you should take is identifying what you hope to achieve from your move into the freelance or self-employed sector.
2. Be Prepared to File Taxes
When you decide to move into the self-employed sector, you should be prepared for filing your business taxes each year. If you are unsure about what you want to do with your life you should look at the problem of how to make the most of your taxes to ensure you are not left with the issue of major tax problems in the future. The IRS recommends you make quarterly payments for your business to ensure your taxes are paid by the end of the year and you may even see a refund heading into your bank account. Come tax time, you do not want to be left looking for self employed loans to cover your payments.
3. Be Professional
If you want to be self-employed, you have to run your business like a professional company with full days and work to your maximum potential. Being professional means knowing exactly where you are financially at any time and ensuring you have an idea of where your business is heading in the future. Fair Vine Super explains the chance to become your boss should be grabbed with both hands and taken forward with a professional attitude.
4. When Will you Take Time off?
If you are working for yourself you are responsible for meeting deadlines and getting things done when they are ordered. One of the most difficult ties of year for any self-employed person or freelancer is the Holidays when you can find yourself working when everybody else seems to be on vacation having fun. An option to explore is self-employed loans that can get you through the Holiday season without the need to work too much.
5. Spending Time Alone
Whether you are working on a construction site or working in an office you can quickly begin to feel a sense of camaraderie for your fellow workers and enjoy your time at work. Unless you have got a lot of backing for your business and can employ some other people, you will spend most of your days alone working on your business. This can be a lonely existence and is not the perfect option for many extroverts.
6. Forget the Nine-to-Five
In your previous life as an employee for a larger company, you will probably have left your office or workplace at a certain time and forgotten about work until the next morning. The traditional nine-to-five of your working life will be over when you decide to become self-employed with your new business hours stretching from early in the morning to later in the evening. In the early days of owning and operating your own business, you may spend your evenings completing your taxes or checking your stock levels as you try to fit everything into 24 hours of the day.
Don’t Forget your Overheads
You may have found yourself bursting to escape your old job and start your own business with the chance of untold riches stretching ahead of you. In most cases, you cannot forget to include the cost of your overheads in your fees for your products and services. The big question is can you meet the demands of your customers for a price that will give you enough business to make money positively.
There are many positives and just as many negatives regarding operating your own business. If you are going to be prepared for your new business you should complete a large amount of research to ensure you are ready for your new business career.