If you are self employed, what do you do? And what was important when starting up?

[KenBarlow]

I'm wondering what self employed MNer's do and what was important when starting up?
Did you get some great advice, read books, get help from a business start up service?

I'm reading as much as I can and finding out about things, planning how I can realistically run the business, working out prices for products etc. Very early days and a lot more to learn!

I'm worried about going from relying on benefits to being self employed and the implications that may have. I work but rely heavily on tax credits for us to get by, I'm hoping to eventually earn enough to no longer need help in the long run but I'm concerned about what will happen up until that point. No partner to support me financially through this.

Any advice for setting up a business would be appreciated!

[delilahbucket]

What I did? I worked and still do work bloody hard. 7 days a week, 14 hours a day hard. Being self employed is by far the most difficult job I have ever done. Wouldn't change it for the world though 😀

[KenBarlow]

Booked onto a free start up day in November that covers market research, accounts etc

Can't wait to get started!

[KenBarlow]

Great advice, thank you so much!

Making sure there's a market and researching that side is going to be a challenge for me. I have access to a free business start up service who I'm going to contact tomorrow morning and hopefully they'll be able to give me some help with that side of things!

They seem like a great service and have helped many people start their businesses so I plan to get as much help as possible from them

[EverythingWillBeGreat]

If it's a shop, think about adverts in the newspaper and article for the opening.
Do a grand opening day, advertise it where it is, local paper etc in advance.
Same on Facebook!! Create an event an defined your local page.
Consider leaflet dropping too.

YY about being sure there is a market for it

You will have to try different way to market the shop and see what works best. That means actually FOLLOWING how well each method is going. (Eg increase of sale after doing xxx)

Last point but not least, dont stop advertising. It will take a long time for the word of mouth effect to kick in and even then a well placed advert might be what people need to gentlynremimd them they were suppose to come over.

[Hoppinggreen]

Make sure there is a market for your business
I have mentored a few small businesses and one reason for failure is that they have started the businesses because it's something they are passionate about rather than something other people actually want
Passion is important but there has to be a need for your product/service
Also, don't think that whatever you are offering will sell itself. You WILL have to do some Sales, which many small business owners say is the least favourite part of running their business

[KenBarlow]

Bump for more advice?

[KenBarlow]

Fantastic advice Everything, thank you very much!
I'm going to take photographs of my products as I practice leading up to the opening so I can share those to start promoting it, and the shop will need doing up so I could always share developments on that to gain interest too.

I will look up the blogs for marketing and I know of a free service for business start ups so will make sure to get as much out of that as I can!

Really good advice! What is your business if you don't mind me asking?

[EverythingWillBeGreat]

I will tell you what I didn't do and should have done right from the start (it would have made my life much much easier)

• read about marketing for your speciality, how do people get customers etc... Read blogs (there are plenty of them!)
  

• if at all possible, get the advice of a business coach. At least, go and see an accountant and review your plans with them.
  

• then do something EVERYDAY to promote your business. Don't get procrastination in the way. Just one step at the time and do it. What works is the slow dripping effect.
  

• start promoting your product BEFORE to really start selling. A good month before is a good idea.