Thinking about freelancing? 3 steps before you start

So today we're talking about taking what you currently do as a job and doing it for yourself, becoming your own boss.

Managing your own time has some obvious advantages.

Do you want to:

• Work around your family or personal interests?
• Focus on the areas where you excel?
• Escape the daily commute or office politics?
• Create the opportunity to earn more while having greater flexibility?
• These are all great reasons to consider freelancing.

However, there are challenges too.

• No holiday or sick pay.
• No employee benefits or pension scheme.
• No guaranteed monthly pay cheque.
• You have to find your own customers and keep them.
• So, how do you know whether you're ready to make the leap?

1. Find your niche

The most successful freelancers aren't all things to all people. They have a clearly defined niche.

Whether it's dog walking, oven cleaning or copywriting, they've found a way to stand out by focusing on a specific audience.

Take some time to think about:

• What do you genuinely love doing?
• Who are your ideal clients?
• What can you do better than anyone else?
• What do you naturally enjoy so much that you could happily spend hours doing it?

This is where your focus should be. Start with one product or service and market it to a clearly defined audience.

For example:

• Publicity for new authors.
• Speaker training for lawyers.
• Exercise coaching for dancers.

The more specific you are, the easier it becomes for people to understand exactly how you can help them.

2. Revisit your network

Take out a piece of paper.

Write your niche in the middle.

Now make three lists.

The first should include everyone you know who could potentially become a customer.

The second should include people with complementary skills who could recommend your services and whom you could recommend in return.

Finally, list any suppliers, advisers or friends whose knowledge or expertise could help you build your business.

You may be surprised how many useful connections you already have.

3. Test your ideas

Start small. Run a pilot. Carry out some market research.

Speak to potential customers and ask for honest feedback about your idea.

Too many people launch businesses without first finding out whether there is sufficient demand for what they offer.

For example, if you want to open a café, spend time observing the local area.

• Is there plenty of footfall?
• Which cafés are busy?
• Which aren't?
• Why?
• Are you filling a genuine gap in the market?

This step is particularly important if you'll need your business to generate income quickly.

Take time before you take the leap

Being your own boss really can be a dream come true.

However, before taking the leap, give yourself the best possible chance of success by taking time to plan, carry out research and identify your niche.

A little preparation at the beginning can make a huge difference to your confidence and your business in the future.