Self employment

How do I set up my own business?

November 15, 2020 By // by Rachel Brushfield

Setting up a business is a dream come true for some people and something that others wouldn’t touch with a barge pole. A high proportion of businesses fail but you don’t need to be one of this statistic with careful planning and research.

There are many catalysts to setting up a business; spotting a gap in the market; taking on a franchise, commercial demand for something you do as a hobby; the opportunity to buy an existing business, being made redundant and having a cash sum; wanting more freedom or money etc.

So how can you set up your own business with minimum stress, expediently to create ease in future?

Below are some tips to maximise your chances of success:

Do thorough research into the demand for your product or service including the market, pricing and competitors and especially find out what your customers’ needs and desires are
Ensure that your product or service is different or better in a way that is relevant to the needs of your target audience, not simply something that you like
Buy a book and/or do an on-line course in setting up a business
Take advantage of any cheap or free training available from the local council, Chamber of commerce or other government initiatives etc
Create a thorough yet simple business plan that is user-friendly for ongoing monthly use
Have some savings to take the pressure off in the first few months and work out your break-even costs to cover key expenses. Ensure you don’t overstretch yourself financially and have a proactive business banker and accountant to give you expert advice
Set up I.T. and efficient filing systems and templates that will save you time in the long run when you get even busier
Plan time in your diary to network and do marketing and also to review progress and plan next steps. It is easy to put off things that aren’t urgent but vital to invest time in important not urgent activities.
Network face to face or on-line with other self-employed people through organisations such as BNI or Linked in. Not only can they generate business for you, they’ll also give you support and advice
Think carefully about the environment in which you’ll work – this can really affect both your productivity and how you feel
Get a business coach or mentor to help you to minimise mistakes and fast track success
Ensure that you get key people in your life on board; partner, kids etc so that their support helps rather than hinders you

More

Read how we help our clients

Hobby becoming a business

https://www.inspiringportfoliocareers.com/hobby-becoming-a-business/

Turning a passion into a business

https://www.inspiringportfoliocareers.com/turning-a-passion-into-a-business/

Turning a strength into a business

https://www.inspiringportfoliocareers.com/turning-a-strength-into-a-business/

How do I do contract work?

November 15, 2020 By // by Rachel Brushfield

Contract and interim work is a growing market and is commonly used for covering maternity leave, sabbaticals and special projects where a specific skill and experience set is needed.

With employers nervous about recruiting people and having them on the payroll with all that this entails, it is likely that contract positions will be popular with employers for the foreseeable future.

Contract and interim work is mainly for more experienced executives who can hit the ground running and need little supervision. If you relish freedom, variety and new challenges and don’t mind uncertainty, doing contracts and interim can be a great and varied career choice.

Careers are becoming more and more fluid with individuals working full time, doing some contracts, a bit of freelance then doing another full time job.

Contract and interim work has pros and cons and isn’t for everyone:

Pros

Variety and new challenges
Can go travelling in between contracts
Remain separate from company politics
Get paid more than in full time employment
Experience different cultures and varied challenges
Useful option post redundancy to take stock and evaluate options

Cons

There may be periods of no work/income
You may be resented by full time colleagues for getting more pay
You may need to set up a company and register for VAT etc and submit annual accounts
You need to think ahead to secure your next contract
You may have to work away from home which can be isolating

Here’s some tips to smooth the path of doing contract/interim work.

Have 3-6 months of savings to cover any lean times, tax and VAT
Choose not to worry about where your work will come from
Source references and create case studies for each contract
Keep your CV updated
Register and keep in touch with specialist interim recruitment agencies
Plan regular time to network and market yourself, don’t leave it until your latest contract comes to an end
Keep your skills updated by doing courses and study and ensure that your unique selling proposition is clear, specific and relevant to current and future market needs
Ensure that you get and give a good handover with each contract/project

Read how we help our clients

From employment to contracting

https://www.inspiringportfoliocareers.com/from-employment-to-contracting/

Get in touch to arrange your free 20 minute consultation: https://www.inspiringportfoliocareers.com/contact-us/

How do I become self-employed part 4

November 14, 2020 By // by Rachel Brushfield

This is part 4 of a 4 part blog series about becoming self employed.

Read part 1 https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-1/

Read part 2 https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-2/

Read part 3 https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-3/

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 8 tips

Design and print high quality business cards – they speak volumes about you
Networking selectively for your own specialism
Have a superb support system e.g. bookkeeper, proactive accountant, IT
Develop and hone efficient expedient systems, e.g. physical paper and computer file folders from the outset
Back date purchases before you set up your business
Be adaptable and open to new avenues and opportunities – learn as you go along, learn then teach to embed new learning
Create your own personal image – be authentic
Have a plan but be agile – see what clients/projects you attract

What tips would you add?

More

Read about some of our clients and how they became self-employed.

Hobby becoming a business https://www.inspiringportfoliocareers.com/hobby-becoming-a-business/

From employment in the arts to self-employment https://www.inspiringportfoliocareers.com/from-employment-in-the-arts-to-self-employment/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/

How do I become self-employed part 3

November 14, 2020 By // by Rachel Brushfield

This is part 3 of a 4 part blog series about becoming self employed.

Read part 1: https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-1/

Read part 2: https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-2/

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 10 tips

Follow up is key – don’t waste effort going for the ‘new shiny thing’
Be clear on your attitude to risk
Adopt smart tech to work expediently and plan IT reviews and updates
Create a financial ‘cushion’ for quiet times
Design your business and working environment around your personality type e.g. extrovert or introvert
Make the most of the quiet months (August/December/January) to think and plan, don’t worry that it is quiet – it is a gift!
Utilise the support of a Virtual PA – play to your strengths
Be honest with yourself – what do you really want, rather than what you think you should do?
Know the key words for your specialism – use Google Keyword planner
Define your personal brand and personal brand assets, e.g. avatar – this is increasingly important in the digital age

What tips would you add?

More

Read about some of our clients and how they became self-employed.

Starting a charity: https://www.inspiringportfoliocareers.com/starting-a-charity/

From insurance to being a piano tutor: https://www.inspiringportfoliocareers.com/from-insurance-to-being-a-piano-tutor/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/

How do I become self-employed part 2

November 14, 2020 By // by Rachel Brushfield

This is part 2 of a 4 part blog series about becoming self employed.

Read part 1: https://www.inspiringportfoliocareers.com/how-do-i-become-self-employed-part-1/

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 10 tips

Utilise social media to create awareness free – be focused
Build your skills – gives you options to develop a portfolio career over time
Co-opetition vs collaboration – there can be a fine dividing line between people who do similar work to you being an opportunity to collaborate and being competitive
Protect yourself with legal docs e.g. web site terms and conditions, associate agreements etc.
Create case studies to demonstrate how you can help clients
Gain and share client testimonials
Design your business around your personal values – what is really important to you
Create a compelling verbal business card – what you answer when asked ‘what do you do?’
Support your clients in their roles/careers and they will support you
Timing is everything – monitor business and seasonal cycles which influence

What tips would you add?

More

Read about some of our clients and how they became self-employed.

Turning a passion into a business:

https://www.inspiringportfoliocareers.com/turning-a-passion-into-a-business/

Turning a strength into a business:

https://www.inspiringportfoliocareers.com/turning-a-strength-into-a-business/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/

How do I become self-employed part 1

November 14, 2020 By // by Rachel Brushfield

This is part 1 of a 4 part blog series about becoming self employed.

Both Peter and I have run our own businesses for many years. I (Rachel) have spent many more years doing my own thing than being employed. In 2021, it will be 24 years.

Here are 10 tips

A key decision is whether you want to have your own business or be an associate of someone else’s business, or a mixture – time, money, control and self-marketing considerations of these choices
Use your career heritage as a springboard/foundation for change
Research thoroughly to ensure a robust decision
Have a coach, mentor and/or personal Board
Do things ‘just in time’ in response to client interest/trends, rather than having everything in place – let go of perfectionism
Make time to plan, reflect and review regularly
Pre-network before becoming self-employed
Have a clear niche/specialism that you love
Choose the right not wrong associates – do due diligence re referrers – many have established referrer relationships already – don’t waste your time with the wrong ones
Think ‘out of the box’ with your marketing and networking. It doesn’t have to cost a lot of money

What tips would you add?

More

Read about some of our clients and how they became self-employed.

From civil servant to self-employment:

https://www.inspiringportfoliocareers.com/from-civil-servant-to-self-employment/

From employment to self-employment – accountancy:

https://www.inspiringportfoliocareers.com/from-employment-to-self-employment-accountancy/

Contact us to arrange your free 20 minute meeting to explore what would be useful for you: https://www.inspiringportfoliocareers.com/contact-us/

From civil servant to self-employment

November 10, 2020 By // by Rachel Brushfield

This is an example of the successful career change into self employment from being a Civil Servant in the public sector all of his life. Written communication is one of this client’s core competencies, so it makes sense for them to express their story in depth in their own words, rather than us use ours.

“For 22 years – over half of my life – I was a Civil Servant, so a decision to leave the Service was monumental, the right decision, but still very daunting. During my subsequent career break I toyed, spending money along the way, with ‘new careers’ that I had thought were for me, but which (when faced with doing them) I didn’t feel the passion or enjoyment I thought I would. I became stuck.

I then found Rachel at Energise who helped me to take a fresh look at myself. She took me on a journey through my career and back again and helped me to reach a light bulb moment: Focus on what I value, I am good at and enjoy doing in a way I like to do it! I saw new insights and clarity about my uniqueness, what I have to offer and how to evaluate work options so that I choose projects that energise me. Armed with this, Rachel helped me take the ‘fear’ out of approaching a jobs market I hadn’t been in for over two decades – how to network and market myself. This all culminated in an impactful and up to date CV and understanding of the increasing role social media plays in finding opportunities.

In possession of my new CV and new learning I applied for three roles securing interviews for all. I was successful and chose a short term role that fits who I am, honours my values, plays to my strengths and working style. I have to say that I am really enjoying myself and find myself at a stage of starting to look for my next opportunity. The fact I accepted a short term contract and feel no fear about how to go about finding the next opportunity is testament to the insight and knowledge Rachel helped me to access and apply.

So, if you are at a career crossroads, want to leave the public sector to become self-employed, do something different or do something the same but somewhere else, I would recommend working with Rachel who will share lots of tips and tools to support you and ensure a safe passage to your new world! She is highly professional, has a lot of expertise in the jobs market as it exists today, and provides a personalised and flexible service tailored to your needs. Rachel stays in touch too, introduces you to others who might be able to help you as you begin and continue your journey.” Stephen Poole

From employment to self employment – accountancy

November 10, 2020 By // by Rachel Brushfield

Paul is an example of someone who had to make a major career change and set up his own business in his 50s, having been employed all his life, something that is increasingly common. Not only that, but he’s an accountant, a risk averse profession.

Here’s how we helped Paul successfully transition from employment to self employment.

Paul was an experienced accountant in his 50s who had specialised in the car trade and wanted to become self-employed, but had never had to market himself. He had pursued and won a constructive dismissal case against his former employer.

I helped him to think about the mix of work he wanted and how he could structure it. I also helped him to set up systems that would make his life easier when he became busy, and shared some thoughts on how to market to his small business clients to add value.

I helped him to put together case studies that would help his potential clients to see how he could help them and to craft his biography. Paul’s business got off to a flying start and he was never short of work, but it was the kind of work he enjoyed, with the type of people and companies that he liked working for – something that I had helped him to think through as part of our work together.

“Working with Energise has given me confidence to sell myself and make approaches to organisations that I never would have done before. I still look back on the time I spent with Rachel and have to say it was one of the best decisions I have ever made, and I am still telling people about it.”

Paul Bradly

Turning a passion into a business

November 10, 2020 By // by Rachel Brushfield

Often what clients initially present in coaching isn’t what needs to be explored, but this has to be their realisation in their own time.

Debbi was recommended to me by an associate who used to work with her. She had had a long career working in Architecture and Design. Living between two countries, England and France, with one home in each but her heart in France, and having been made redundant, she was at a life as well as career crossroads.

We explored her transferable skills – she had many – and how she could utilise these outside of architecture and design, as she was frustrated with the politics of big companies and, in her mid 50s, was experiencing some ageism.

It became clear to me quite early on that she had an entrepreneurial spirit and the tenacity and passion to make her own business happen, and whilst financial security was important to her, she would be able to overcome any concerns about not having a monthly salary.

I remember the moment when she lit up and shared what she was really passionate about – cheese! It was an ‘aha’ moment as we call it in career coaching and she admitted to herself that she didn’t want to work for big companies and play politics at all any more – that was a ‘should’ – but to set up her own company doing specialist holidays around the cheese regions in France, in Debbi’s words, ‘an intimate culinary tour company focusing on regional French cheeses’.

I helped her to shape her initial idea and then she went off and got on with making it happen and moved to France for her heart and her business.

‘Rachel helped me to decide what would really make me happy in the second half of my career, confront the fears and put a plan in place to make it happen. One year in the making, centred around my passionate interest in cheese, I credit Energise for kick starting the realisation.’

Debbi Baron

Turning a strength into a business

November 10, 2020 By // by Rachel Brushfield

When Cory was ready for a career change, she sought me out as her coach – Energise. Cory is an American, who shares her time between the US and the UK. She has a great attention to detail, and goes that extra mile in everything she does.

Financial security is very important to her and so while self-employment was her goal, the right things needed to be in place before she took the leap – especially in hard economic times.

To give Cory that extra confidence, I helped her understand more about her talents, what makes her unique and what she specifically wanted from her work. Two areas closely matched Cory’s aptitude and interests; event management and being a professional organiser. Cory researched these two options and chose professional organising because she can see how she truly makes an impact in people’s work and personal lives.

Two things that stand out about Cory are her distinctive name and core values. So in choosing to call her company by her own name, Cory is also creating a brand that embodies her commitment to excellence and outstanding service.

“Working with Rachel at Energise not only helped me discover my true calling for a complete career change, but also taught me much more about myself than I had anticipated. Rachel’s practical exercises, questions and steps prepared me for eventually taking the leap. Rachel’s approach was what I was looking for in a business coach: helping me identify what I wanted, creating the blueprint to do it, and then holding me accountable for taking action. But the best part was that I learned tools and skills that I still use daily in many aspects of my life, not just my career.”

Cory Cook, Professional Organiser & Time Management Coach