Finding self employment ideas is not just about the business you think you want to be in. There are a lot of issues to consider to help you find the right business to allow you to work from home.
Identify Potential Freelance Work Ideas
First of all, brainstorm all the freelance work ideas you have. Put those down on a piece of paper or computer file and put it aside.
Evaluating Yourself Critically…
Next, do a strict self-evaluation of your strengths and weaknesses.
Be brutally honest, as this will help you to work out which work from home jobs are right for you. Think about past performance appraisals – what qualities have been most admired or most disliked? Think about how those can work for you in any business venture you undertake.
What Resources Would You Need?
Next, consider the resources you will need for those self employment ideas.
Some business ideas might require you to invest some money, while many others require you just to have a computer and the desire to work.
Take a long, hard look at your finances and see what you can afford to invest in developing a home business. Even if you plan to consult in your existing business and don’t need any additional tools or equipment.
You will need to market yourself with business cards and a website, and you may need to advertise locally too. Check this self employment guide for other issues you may also have to consider.
Evaluate the Market
Now, go back to your list of ideas and see which ones are still possible after looking at your skills and the necessary resources.
The next step is to evaluate the market potential of the ideas that are left.
- How many people are offering the same service?
- Is there any way to differentiate your planned business from the ones that already exist?
- What are the potential pitfalls of working from home in each business?
- By the time you have completed this exercise, you will narrow your original list down to one or two ideas.
Prepare a plan for developing each business and see which one is more likely to have the result you want. By doing this, you will find a practical freelance job from your original batch of self-employment ideas.
Invest In A Formal Business Plan
Having a formal business plan is often the difference between success and failure. Failure in a business venture costs money and it is better to take on board the planning process and experience of others at the outset.
Having been an Accountant in previous roles I know from experience that those that succeed are the ones the do their planning carefully.
If you are starting out as a freelancer and your budget is limited the United States Small Business Administration has an excellent service on how to write your business plan which also has a template to help you.
If the Small Business Administration service is not enough detail you may find this book helpful:
Read Books Written By Freelancers That Have Succeeded
I recommend the ebook The Unlimited Freelancer. This ebook is a blueprint for success because it has been written by experienced freelancers Mason Hipp and James Chartrand.
They are also experienced and successful writers. They have laid out a blueprint for taking a freelancing part time job to a thriving business that can be enjoyed for years to come.
Click here to visit FreelanceFolder.com
Protect Yourself
I recommend strongly that you visit your Federal Trade Commission website in whatever country you may live prior to making any decision. In the United States there have been extensive efforts to identify scams to protect consumers.
Have Great Self Employment Ideas and Stories to Share?
Do you have a great story or ideas to share about self-employment? Share them here!
