3 Crucial Tools You’ll Need to Go Self-Employed
Going self-employed can be a great way to pursue your dreams, and live the lifestyle you want, without having to work in the standard 9-to-5 format. For many, going self-employed represents a chance to spend your life doing more of the things you enjoy. You get to ignore headache-inducing conversations with bosses and choose your own clients.
Of course, self-employment isn’t without its challenges. If you want to be successful in this landscape, you’ll also need to make sure you have the right tools or resources in place to set yourself up with strong foundations. While the exact things you’ll need to thrive as a self-employed professional will vary, here are 3 crucial must-haves which apply to almost everyone.
Accounting
One of the most challenging transitions you’ll make as you go self-employed is moving from a life where someone else handles all the headaches of taxes and deductibles for you, to a life where you do all of your accounting yourself. As a self-employed professional, you’ll need to make sure you’re paying attention to all the cash you generally spend in your business, and how much you earn. Accounting software is an example of one of the uses of artificial intelligence in business and it will help you to keep track of crucial incoming cash and outgoing invoices.
It’s also a valuable tool for organizing your information, so you can send off the right tax return information at the correct time. However, don’t make the mistake of thinking accounting software means you don’t need an accountant. A professional could still be the key to helping you save more money and avoid costly mistakes.
The Right Education and a Strong Resume
While a degree isn’t always necessary to thrive in a freelance or self-employed landscape, it’s becoming an increasingly important way to make yourself stand out. If you’re in a cluttered marketplace like graphic design or marketing, you’ll struggle to convince your customers you’re the best person for their needs without the right education. Taking out a student loan from a private lender like Earnest student loans so you can earn a relevant degree and add it to your resume can make you a lot more appealing when you’re selling yourself to clients. This learning opportunity can also be a great way to develop some examples of your work for a portfolio if you’re just getting started.
The Right Attitude
One of the biggest mistakes any self-employed person can make is to rush into their new lifestyle, assuming they’re going to have it easier when they don’t have a boss to answer to. While there are a lot of benefits to living as a self-employed professional, it’s also worth noting you’ll be under a lot of stress a lot of the time. As a self-employed person, you won’t have a consistent income, so you’ll need to work hard to ensure you always have enough cash in your bank to pay the bills. You’ll also need to be passionate and committed enough to continue working on your career and your business even when you’re not earning as much cash as you might like. Make sure you have the right attitude before you jump in.
This article has been published in accordance with Socialnomics’ disclosure policy.
