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How Self Employment Can Work For You by Wizeboy(m): 4:03pm On Oct 08, 2014
Self-employment according to wikipedia, is the act of generating one's income directly from customers, clients or other organizations as opposed to being an employee of a business (or person).

There are several signs that you are meant to be self-employed, including the fact that you want more flexibility in your schedule, you don’t work well with others, you’re passionate about your work, and you’re resourceful.

Once you decide to take the big step to becoming self-employed, you have to come up with a plan. Then, once you actually get your business going, there are steps you should take to make self-employment work for you, and these steps go beyond just having your idea succeed. You also need to figure out how to make the actual state of being self-employed work without getting overwhelmed. Here are five ways you can make self-employment work for you.

1. Come up with an idea and a plan
If you are not yet your own boss, the first step you need to take to become your own boss is to think of an idea. Hopefully, if you are considering self-employment, you already have one. Once you have your idea, though, you’re not finished. You need to come up with a plan for how you are going to execute your idea.

A business plan is not just a document. It is a holistic analysis of your company, the environment it operates in, and a route map to achieving success based on the resources available. Unfortunately, the image most of us have is of a 30-page bound document. The focus is on ‘the output' when the real value in a business plan is the business-planning process itself. Business planning is an essential element of running any successful business, particularly given the growing uncertainty all businesses face coupled with ongoing changes in consumer behaviour.
Some of the importance of business plan are as follows: To plan for an uncertain future, To help grow your business, To commit to a particular course of action, To manage cash flow, To value a business, To ensure all bases are covered
As you'll have garnered from the above, business planning is an essential activity, regardless of the stage of business you're at. The very process of producing a business plan enables the business owner to give due consideration to the various factors that mesh together to create the opportunity they are seeking to explore, as well as the resources required and the key drivers needed for success.

2. Market your business continually
Once you are ready to start your business, you need to come up with marketing strategies. You need to analyze the area in which you are creating your business, or, if you are planning to market to a national audience, you need to figure out how to do that. Once you know your target audience, you have to determine how to reach them. Much of this will be done through advertising.

It’s important to heavily advertise when you start your business, but it’s also important to continue to use marketing strategies as your business grows. Don’t assume that if you have a successful start, your business will continue to be successful. Often businesses grow via word of mouth, so it’s also important to make sure that you are keeping your customers or clientele happy, as well. There are many free online advert site in Nigeria now, in which you can also use to promote your products or services.

3. Get support
Financial backing is crucial to the success of many businesses. Unless you have a lot of extra money and you are willing to take a big hit if your business doesn’t succeed, you will need help. You can start by asking your friends and family, but don’t put pressure on them. You also can try recruiting business contacts or people who will have a vested interest in your business plan.

You can also consider taking on a business partner to lessen the financial blow and the responsibility. When inviting a business partner, make sure such person is a visionary person, who know that business success is a gradual process and not what you expect to start reaping 100% profit in the first month of the start-up. If you already have your own business, continuing to network and maintaining relationships with key investors is also very important.

4. Be flexible
Flexibility is important when you are trying to create an idea, establish a plan, implement the plan, and then succeed as a self-employed worker. Things will not always go as you expect. It might take longer than you anticipated to complete all the logistical aspects of starting a business, or you might not get the financial backing that you need as fast as you would like. One of your investors might need to back out after you already started the business.

Anything can happen, and being flexible and maintaining a good attitude will help you keep working hard to make sure you succeed. You also will need to be flexible about the hours that you work. If you are used to a 9 to 5 job, it may take time to be comfortable working at all different times and sometimes having to put in many extra hours. Infact working extra hours should be the hallmark of a business owner who wish to achieve success in his business.

5. Choose the right employees
Perhaps your business needs will be completed entirely by you, in which case you won’t need to hire anyone. If this is the case, you will need to make sure that you maintain a steady work ethic, that you keep a competitive attitude, and that you are extremely organized and take time management seriously.

If you do hire employees, take time to really choose good ones. A Curriculum Vitae is not enough to tell you everything you need to know about a potential employee. Often people who write strong cover letters and follow up letter can be separated from other applicants who are not serious. If possible, you can also implement trial periods for new employees.

Most important, make sure that the person you are hiring can really do what you need him or her to, and that he or she is a person that you are willing to work regularly with. While the idea of your business is important, your employees may make or break your ability to be self-employed, because they will be doing much of the work and client interactions themselves.

If you have the drive to plan correctly, the motivation and organization to implement your plan, and the financial backing and right employees to succeed, you may be on your way to a long career as your own boss.

2 Likes

Re: How Self Employment Can Work For You by dytbabe: 6:48pm On Oct 08, 2014
Belch
Re: How Self Employment Can Work For You by hexgear(m): 10:03pm On Oct 08, 2014
Good points! You mentioned "Market your business continually". Have you heard of http://Naibac.com ?

Naibac is a Social Directory of People that helps you grow your Business and Social contacts by connecting you with people from all over the world with Skills you’re interested in and Expertise that are similar to your own. They have a comprehensive list of well-defined categories and each registered user picks just 1 category that they feel represents their strongest area of expertise.

For example, if you register as an Event Planner, anyone in need of Event Planning services can discover you on Naibac and contact you directly for possible Business or Social opportunities. It’s that simple. You can also connect with people who have similar Skills and Expertise to you, paving the way for future collaborations.

Naibac is also actively involved in supporting SME’s and Startups with FREE and affordable advertising opportunities to help them promote their Businesses online through Social Media.

Here's their website: http://www.naibac.com
You can also follow them on Twitter here: http://www.twitter.com/naibacloud

For FREE help with Marketing your Business you should check them out!

Re: How Self Employment Can Work For You by temmy2011(m): 8:45am On Oct 18, 2014
Entrepreneurship seems to be the way forward for we (youth) of nowadays since the so-called white-collar job seems not to be forthcoming or have the past security it normally have.

But the kind of challenges faced with entrepreneurship in Nigeria can however discourage any youth with good idea, as there is no government fund or bank loan available to access in establishing business. Banks only borrow the so-called rich man money.
Re: How Self Employment Can Work For You by Kasykel(f): 11:21am On Oct 22, 2014
Please i am interested in importation biz. I guess u are into it From ur posts. I will pm u pls
Re: How Self Employment Can Work For You by bosunjohns(m): 9:46pm On Dec 26, 2014
Wizeboy:
Self-employment according to wikipedia, is the act of generating one's income directly from customers, clients or other organizations as opposed to being an employee of a business (or person).

There are several signs that you are meant to be self-employed, including the fact that you want more flexibility in your schedule, you don’t work well with others, you’re passionate about your work, and you’re resourceful.

Once you decide to take the big step to becoming self-employed, you have to come up with a plan. Then, once you actually get your business going, there are steps you should take to make self-employment work for you, and these steps go beyond just having your idea succeed. You also need to figure out how to make the actual state of being self-employed work without getting overwhelmed. Here are five ways you can make self-employment work for you.

1. Come up with an idea and a plan
If you are not yet your own boss, the first step you need to take to become your own boss is to think of an idea. Hopefully, if you are considering self-employment, you already have one. Once you have your idea, though, you’re not finished. You need to come up with a plan for how you are going to execute your idea.

A business plan is not just a document. It is a holistic analysis of your company, the environment it operates in, and a route map to achieving success based on the resources available. Unfortunately, the image most of us have is of a 30-page bound document. The focus is on ‘the output' when the real value in a business plan is the business-planning process itself. Business planning is an essential element of running any successful business, particularly given the growing uncertainty all businesses face coupled with ongoing changes in consumer behaviour.
Some of the importance of business plan are as follows: To plan for an uncertain future, To help grow your business, To commit to a particular course of action, To manage cash flow, To value a business, To ensure all bases are covered
As you'll have garnered from the above, business planning is an essential activity, regardless of the stage of business you're at. The very process of producing a business plan enables the business owner to give due consideration to the various factors that mesh together to create the opportunity they are seeking to explore, as well as the resources required and the key drivers needed for success.

2. Market your business continually
Once you are ready to start your business, you need to come up with marketing strategies. You need to analyze the area in which you are creating your business, or, if you are planning to market to a national audience, you need to figure out how to do that. Once you know your target audience, you have to determine how to reach them. Much of this will be done through advertising.

It’s important to heavily advertise when you start your business, but it’s also important to continue to use marketing strategies as your business grows. Don’t assume that if you have a successful start, your business will continue to be successful. Often businesses grow via word of mouth, so it’s also important to make sure that you are keeping your customers or clientele happy, as well. There are many free online advert site in Nigeria now, in which you can also use to promote your products or services.

3. Get support
Financial backing is crucial to the success of many businesses. Unless you have a lot of extra money and you are willing to take a big hit if your business doesn’t succeed, you will need help. You can start by asking your friends and family, but don’t put pressure on them. You also can try recruiting business contacts or people who will have a vested interest in your business plan.

You can also consider taking on a business partner to lessen the financial blow and the responsibility. When inviting a business partner, make sure such person is a visionary person, who know that business success is a gradual process and not what you expect to start reaping 100% profit in the first month of the start-up. If you already have your own business, continuing to network and maintaining relationships with key investors is also very important.

4. Be flexible
Flexibility is important when you are trying to create an idea, establish a plan, implement the plan, and then succeed as a self-employed worker. Things will not always go as you expect. It might take longer than you anticipated to complete all the logistical aspects of starting a business, or you might not get the financial backing that you need as fast as you would like. One of your investors might need to back out after you already started the business.

Anything can happen, and being flexible and maintaining a good attitude will help you keep working hard to make sure you succeed. You also will need to be flexible about the hours that you work. If you are used to a 9 to 5 job, it may take time to be comfortable working at all different times and sometimes having to put in many extra hours. Infact working extra hours should be the hallmark of a business owner who wish to achieve success in his business.

5. Choose the right employees
Perhaps your business needs will be completed entirely by you, in which case you won’t need to hire anyone. If this is the case, you will need to make sure that you maintain a steady work ethic, that you keep a competitive attitude, and that you are extremely organized and take time management seriously.

If you do hire employees, take time to really choose good ones. A Curriculum Vitae is not enough to tell you everything you need to know about a potential employee. Often people who write strong cover letters and follow up letter can be separated from other applicants who are not serious. If possible, you can also implement trial periods for new employees.

Most important, make sure that the person you are hiring can really do what you need him or her to, and that he or she is a person that you are willing to work regularly with. While the idea of your business is important, your employees may make or break your ability to be self-employed, because they will be doing much of the work and client interactions themselves.

If you have the drive to plan correctly, the motivation and organization to implement your plan, and the financial backing and right employees to succeed, you may be on your way to a long career as your own boss.

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