I finally, finally, finally got part two up! Read part one if you missed it.
Erica asks: How long did it take to become self-employed?
If you read my “How I Went From Laid Off To Gainfully Self-Employed” posts, you’ll know that I started seeing enough income come in around month seven. Luckily, I was receiving unemployment and had a bit of severance pay to fill in those gaps in income. But it took a lot of determination to make it. It’s very hard to keep going and keep pressing forward when your bank account is bleeding out money faster than you can make it. You just have to put your head down, focus on your end goal and don’t give up until you get there. Continue to read industry blogs, find some books on business and by all means, please set a new budget and do your best to stick with it!
Felicia asks: How do you make it work?
I take it one day at a time, honestly. I think most people who are trying to be their own boss forget that you’re not just filling one role. You’re not just “President,” or “Owner,” or whatever title you decide to give yourself. You’re also the IT person, the mailroom, the receptionist, the advertising guru, the accountant. You are very much on your own and that’s scary. But the beautiful thing is, you can learn! I know what’s a legit tax write-off, how to do my expense sheets every month and all types of other things that I had no clue about 2010. Give yourself credit – you’re smart and you can learn.
Gaetane asks: How do you make a steady income?
I started off chasing writing assignments, making anywhere from $10 to $750 per article. As you can imagine, that’s some wild income fluctuations right there. So I tweaked my business and began seeking more long term clients, where we signed contracts up front saying they would pay me X amount for X amount of months. It changed everything. I could rest more easily because I knew where my work was coming from and it gave me the stability to plan my days better and also know when I’d have to time to try to find other clients. If you want to have your own business, try to figure out how to make your contracts long-term – you will thank me for it later!
So helpful Tara! Thanks for sharing!