2. ‐ Bumpy economy
‐ Self‐Employment =
‐equally secure work to
working for an employer
‐personal freedom
‐ greater hour <lexibility
‐ Most importantly, you have the
feeling of self‐ownership and
being in control.
‐ Gain the ability to use your own
skills from previous jobs by
staying in the <ield you already
know.
3. STRENGTHS AND
WEAKNESSES
‐ Must be:
‐ disciplined
‐ patient
‐ a quick learner
‐ resourceful
‐ patient
‐ willing to adapt
This is because there is no longer anyone yelling/encouraging you to stay on task and
<inish your job.
‐ Organization and scheduling skills are extremely important
‐ Need thorough plans and have organized documentation
‐ Small goals and due dates within deadlines helps keep things under control
Do you have any of these skills and abilities? If so, self-employment may be right for you.
4. STARTING YOUR
OWN BUSINESS
‐ Always plan ahead and make
schedules. This is key to keeping
your personal business alive.
‐ Organization is one of the most
important aspects of a personal
business
‐ Customer satisfaction can make or
break your business
‐ Always know the new things that
customers are looking for (be on the
cutting edge of your <ield)
‐ Build a network of contacts/
customers (<irst step to expansion)
5. MARKETING PLAN
‐ Who are your customers? Who do you think will buy your products
or services?
‐ How will you communicate with your customers and how will you
contact them?
‐ How will you advertise?
‐ How will you sell your products?
‐ Find magazines and organizations that relate to your business. This
will educate further in your <ield and help you keep up with
advances and trends.
‐ Keep in touch with customers and clients and ask for feedback to
improve your companies service and/or products.
Getting your business noticed is key to its expansion. The more
effective your methods are in contacting/advertising your company to
consumers, the more your business will get noticed. Whether your
initial marketing campaigns are successful or not, you will gain
knowledge of what works and what does not.
6. FINANCIAL
PLAN
‐ Estimate the starting costs of your
business.
‐ Must know your <inances and be able
to keep track of them.
‐ What type of equipment will you
need? (computers, fax machine etc...)
‐ What kind of ongoing expenses will
there be? (travel, supplies etc...)
‐ How many projects will you be able
to take on?
‐ Determine the type of business you
would like to start (size and type)
‐ Make sure to calculate your break
even point.
‐ Establish a good credit rating so (if
needed) you will qualify for a loan.
7. LIVING WITH THE
LAW
‐ Understand the
regulations and tax
structures relating to your
business.
‐ Find out if your work
requires any special
permits or licenses.
‐ Get familiar with your
province’s protection/
advertising regulations
and laws
8. Wise Words
‐ Developing a business takes time and isn’t a way to get rich overnight.
‐ Patience is very important.
‐ Don’t overbook yourself. It will lead to panic and you won’t be able to deliver your
products and services to your customers.
‐ Get help in any way possible. This can include secretaries, accountants or anyone who
can help keep you organized.
‐ Get as much education as possible about personal businesses before starting your
own.
