I remember sitting at my desk, tucked in a cubicle, staring blankly at Microsoft Word. The office was quiet, uninspiring, and downright depressing.
Most of the staff members had worked at the company for decades, not because they believed in its mission, but because it was a job—one that paid the bills and was easy to do.
I had to get out.
I began to dream of other career paths. I watched episodes of Sex and the City and fantasized about living out Carrie Bradshaw’s writing career, pitching to all sorts of publications. She had editors she reported to, sure, but she was her own boss. Why couldn’t I write for myself? Wasn’t my work worthy of being published under my own name? And how did Carrie Bradshaw make enough cash to live her fabulous lifestyle? (By the way, I still have no idea.)
The seed was planted, but I didn’t make the leap from 9-to-5 to full-time self-employment until nearly 10 years later! I know, you may be asking yourself why I waited so long. The truth is this: I wasn’t ready, financially or emotionally.
Now, don’t get discouraged. For most people, it doesn’t take that long.
And if you know what to do, it’s easier to start sooner. That’s why I put together a list of steps to help you figure out how to be self-employed. I’ll go over everything from gauging if you’re ready and promoting your business to setting up self-employment business protection and finally taking the leap.
It’s less scary than you think.
How to Know You’re Ready to Make the Leap
The truth is, it shouldn’t have taken me 10 years to go self-employed full time. I put it off for longer than I needed to. Deep down, I knew I was ready earlier. Here are some signs you might be ready now:
You’re dreaming of becoming self-employed—during your 9-to-5 job.
As I mentioned, I used to imagine myself pitching to publications. Having an imagination is fine—it certainly comes in handy when writing. But when it comes to daydreaming about being self-employed so much that you ignore your actual work, it’s a glaring clue it may be time to take that leap to self-employment.
If you haven’t already done so, take stock of how you’re spending your time at work. Are you working on your set tasks and daily responsibilities—or are you daydreaming about the life you could be making for yourself in self-employment? If you answered “yes” to this, then it’s one sign you may be ready.
When you’re outside work, you spend free time working on your side business.
Another clue you’re ready to become self-employed is that you spend your highly valued free time doing work for your side business. And you don’t even mind it. In fact, you love spending the free time you have on your side hustle. I used to rush home, only to turn on the computer and design my own logo. Nerdy? Yes. Typical of an entrepreneur? Also, yes.
You’ve acquired important skills needed to run your business.
I worked under ruthless editors, hired freelancers, and spent time as a marketing manager. That time period gave me invaluable skills that I rely on today: time management, stakeholder relations, and content strategy—to name just a few. These are the same skills that I knew would come in handy one day when I became self-employed.
The people I wanted as clients would be needing my skill set, and I felt confident that I could do the job well for them. When I thought about leaving my job for self-employment, those skills helped me feel like I’d have no problem taking on projects that would be required in my business.
You have your eyes on potential business customers for your side gig.
To make the leap, you don’t have to officially land a customer, but it does help. You may find yourself thinking more about your customer pipeline. Is there interest in your product or service? Is there a need in the market? Who would be best to sell your services or product to? Where would you find them, or how would they find you?
If you’re brainstorming these sorts of questions and scenarios, then you may be ready to take the leap to self-employment.
You feel like external circumstances have made “now” (or ASAP) the right time.
Among the effects of the Covid-19 pandemic was an increase in small business starts. A friend of mine was behind one of those new businesses. She was an art director for a company’s in-house creative department. The job stressed her out. However, she liked to bake and found it to be the perfect stress reliever at night. She often made themed cupcakes, and brought them into work. Her colleagues devoured them – and marveled at their design.
Then the pandemic hit and she was forced to work from home. Cupcake co-worker party time was over. Except it wasn’t. Some of her co-workers offered to buy her themed cupcakes for birthday parties and a side-gig was born. Then, boom, she lost her job. Guess what she turned to full time? You got it, a cupcake business.
Does All of This Sound Like You?
If you’re thinking you may be ready to strike out on your own, we can help you take the next steps. We detail them in Part 2 of this article that you can read here.