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How to Transition to Self Employment From a Regular Job
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[QUOTE="Phantasm, post: 341936, member: 94599"] When a person dedicates his life to self-employment, it is one of the most interesting, adventurous, and satisfying experiences he may experience in his lifetime. Here are some steps that will help you make the transition seamlessly: 1. Come Up With a Business Idea: To develop a business idea that may work, look at your skills, passions and what the market is asking for. 2. Establish a Business Plan: A detailed business plan should contain your business goals, target market, pricing strategy and marketing plan. 3. Begin Saving Money: Have enough savings to cater for personal bills and potentially cover any other costs related to the business during its early stages. 4. Test Your Idea: It could be important not to say good bye to your employer before testing the viability of your concept on a small scale or realizing potential market response. 5. Financial Planning: Add up start-up costs, expected income and identify funding needs that would last until such time that it becomes profitable. 6. Legal Stipulations and Administrative Set up: Register your company name with registrar of companies; apply for permits where they are required; open an account with bank especially for this purpose 7. Networking And Relationship Building; Communicate with freelancers or any kind of individual doing his job independently as well as different clients or even those having information about companies involved in this sphere [/QUOTE]
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