Quiz: Can you work for yourself?
I’ve been running my graphic design business for almost 13 years and I can’t imagine life any other way. Though I remember it wasn’t easy when I was starting out. Which is why I love when people ask me for advice when they are thinking about starting their own small business.
Are you thinking of making the leap? I’ve put together this short quiz that may help you decide.
Answer yes or no to the following questions and record your answers:
1. Do you mind working alone?
When you start a new business as a solo entrepreneur, much of your working time will be spent alone. For people who are used to a busy office environment, this can be difficult. When I started out, I made a point to schedule client meetings often and joined (or created) creative and business groups to avoid feeling isolated.
2. Are you great at budgeting?
Yes, this means sometimes passing up on those really great shoes. When you’re not getting that weekly paycheck, you have to budget your money so you can ride the ebb and (cash) flow and invest back into your business.
3. Do you secretly love bookkeeping?
I used to say I became an artist to avoid using math. Little did I know just how much I would be working with numbers when I started my own business. You will likely hire an accountant at some point, but you still need to tackle daily bookkeeping tasks such as budgets, invoicing and taxes.
4. Are you disciplined?
Though one of the benefits of being self-employed is being able to work in your PJs or take a TV break, you need to make sure the extracurricular activities won’t keep you from doing your work. Creating a morning routine can help—or just rent an office, that’s sure to keep you motivated.
5. Do you have money saved?
If you are like most new business owners, you may encounter slow patches when first starting out. Having money in the bank can help you get through those weeks when checks aren’t coming in (or when tax time comes along).
6. Do you like interacting with people?
You don’t have to be an extrovert, but networking with fellow businesses and reaching out to your personal network helps create and build business relationships—especially important when you are just starting out.
Score your quiz:
- Yes to all questions: What are you waiting for? Go for it!
- Yes to 4 or more questions: Do some research in the areas you are unsure about and you will feel better about taking the plunge into self-employment.
- Yes to 3 or less questions: Talk to fellow freelancers or small business owners to get more comfortable with the idea of working for yourself. (Believe me, they will tell you the good, the bad and the ugly!)