Being self-employed is the ultimate freedom. You get to be your own boss, set your own schedule and enjoy unlimited income potential. But this sort of flexibility also comes with real risk. With so much responsibility to juggle, how can you stay on track, build your business, and fulfill your potential?
Here are six tips that will help you lay the foundation for a profitable and rewarding business for years to come, while simultaneously enjoying all the benefits of working for yourself:
Take a Risk and Do it Now
Have you been putting off a project or venture until you have all the answers? The truth is, you will never have all the answers. As inspirational author and motivational speaker Zig Ziglar once said, ‘You don’t have to be great to start, but you have to start to be great.’ What really matters is moving forward so be brave, take that one step that’s required, and start now. It doesn’t have to work out perfectly – you can always refine later.
Create and Stick to your To-Do List
Daily habits are critical to financial success, most especially in how we manage our time. It’s all too easy for hours to slip by answering emails and becoming distracted by social media. To keep on track, create and diligently stick to a to-do list. Schedule appointments and build time blocks for high-priority activities in your daily planner. If you make these tasks non-negotiable, you will consistently achieve your priorities.
Track and Measure
If you have no formula to measure your success then you will have nothing by which to track your progress – or lack of. Write down your business goals, determine what you have to accomplish every day to reach them, and then start consistently tracking. If you don’t then you can easily drift off course.
Get Checks Ahead
In the real estate industry, income can ebb and flow. Bearing this in mind, make it a goal to have three months of business expenses in reserve to give your company some breathing room – and give yourself some peace of mind. By consistently saving, you will always have the resources to hand to navigate the inevitable valleys.
Invest in Yourself
Long-life educational self improvement is critical to success – after all, it’s your skills that pay the bills so it’s important to keep them up to date and fresh. To achieve this, always allocate ten percent of your income to growth opportunities such as business conferences, training programs, business books, etc. This isn’t a waste of valuable resources – it’s a long-term investment in the health of your business.
Pay Yourself a Salary
No one should work for free. Determine what your monthly expenses are and then cut yourself a check for that amount every month. Anything that’s left over should go back into your business.
Follow this step by step plan and working for yourself will no longer be a chore – it will be everything that you ever dreamed it could be!
Download and print the Success Tips for the Self-Employed infographic as a reminder to stay on track with your business goals.