In a Covid ravaged economic climate, where even multinationals have struggled to maintain their workforce, many are turning to self-employment as an option.
However, while being your own boss, managing your own workload and developing your own career may seem attractive, being responsible for all financial, and even legal, concerns, might tarnish the dream.
Of course, self-employment comes in many guises from a Sole Trader to a Limited Company, so there may be a niche that fits your particular situation.
Franchises can offer a medium risk, self-employed option for those who are wary of taking a risk with their own business idea and prefer to establish a concern with the backing, support and marketing strategies already in place.
Then there is the option of going freelance in a role in which you have had years of experience, to give you the flexibility, negotiating power, but security, of remaining in a familiar sector.
A portfolio career, one in which you take on a series of different part-time positions with a range of companies, although offering variety and interest, could be an option. However, this route could also lead to a sense of frustration, confusion and insecurity.
Clearly, when considering self-employment as an option, whichever route might seem attractive, before stepping into the unknown research is imperative.
Above all be clear about your own skillset, check out the competition and construct a business plan. Understand your goals and ensure they are achievable and factor in the necessity and availability of any financing you may require.
The step into self-employment, if well-managed and carefully thought through could lead you on a bright career path, but take great care to understand the pitfalls of poor marketing, networking and business planning to avoid stepping into the dark.
Assessment4potential can ensure that you start your self-employment journey with strong building blocks to ensure success.
Lynn Tulip is a Registered Career Development Professional with over 20 years of experience working with individuals, helping them prepare for their career transition and supporting them back into work. Her expertise includes 2021 job search strategies.
Copy by consummate communications professional, Suzanne J. Cairns