Taking the leap to join the world of the self-employed is equally as exciting as it is nerve-wracking. If you are new to self-employment, or you’re thinking about becoming a sole trader, then here are a few essential tips that will help you along the way.

Manage Your Time Wisely

Being self-employed can be incredibly time consuming. There is always something that needs to be done, it’s easy to fall behind, and it doesn’t take much to become overwhelmed by your ever increasing workload. This is why it’s so important to manage your time effectively.

Consider purchasing an organisational planner. A good one will have a calendar, spaces for project overviews, priority tasks, contact numbers, and due dates, as well as a place for notes and ideas.

Writing everything down may also make your workload feel more manageable, particularly as you begin to tick things off of your list.

Don’t Neglect Skill Development

You can never stop learning and it’s important to invest time into developing your skills so you can continuously improve your business. Whether it’s an online course, an evening class, or just some personal reading, prioritising your own development is crucial for long-term success.

Consider Outsourcing or Guidance From Experts

Outsourcing doesn’t mean you’ve failed as an entrepreneur. Leveraging experts can be a strategic move that helps you move your business forward more effectively. For example, an OnlyFans model might choose to work with a UK based OnlyFans management agency to get the support they need with things like marketing and finances, which could prove challenging to handle alone.

Keep Up With Your Finances

Being self-employed comes with a lot of financial responsibilities. From reporting to HMRC to getting the right insurance, you need to stay on top of the legal and financial side of things to ensure you remain compliant, avoid costly fines, and have a stress free time.

Make sure you stay up to date with the latest legislations, keep a record of your spending, and always file your tax returns on time.

Adequately Promote Your Business

It’s one thing having a great product or service, it’s another making sure people know about it. Without the right promotions, it can be tricky to get new customers, so it’s crucial that you invest some time and resources into marketing your brand and your offering.

There are plenty of inexpensive ways of doing this. Social media advertising, email marketing, and setting up a Google Business Profile all cost little to nothing but can make a huge difference to the success of your business.

Get Your Business Up and Running

Whether you’ve recently got set up or you’re still in the planning stages, by taking on board these five tips, you can ensure your business runs smoothly and successfully.

Read more:
5 Top Tips For Becoming a Sole Trader