Things to consider when becoming self-employed
1) Are you suited to Self-Employment?
- Are you totally committed?
- Are you willing to work long hours if necessary
- Are you able for the psychological challenges?
- Have you support from family / friends?
You also need;
- To have identified a market opportunity
- To have the practical skills to do the job
- To have some business skills to enable you to run a business
2) Basic Market Research
Have you considered the folllowing?
- Who will use your product or service?
- How many similar businesses are there in the area?
- Can you improve a product or service that other businesses are offering?
- Do you need planning permission?
- Why would customers come to you – is it because of better quality, cheaper price, better service or something else?
- Would large companies use your product or service?
3) Writing a business plan
A business plan is a key tool to help you think out and plan your business before you start. Writing a business plan takes you through a series of questions that you may not have considered but are very important in determining whether or not you can run your business and make a profit.
A business plan will enable you to;
- Work out WHY you are going into business
- HOW you will operate your business
- WHERE to source your finance
- WHO your proposed customers will be.
For more information on how LDC can help you to become self-employed contact Liam O Brien at 071-9641770 or firstname.lastname@example.org