Self Employed or Considering It? Please read.

I usually write on this blog about my personal journey but today I felt inclined to share a little bit of my business life.  Having worked corporate jobs for 20 years, the idea of having my own business had never occurred to me.  When I left my last corporate job in 2005, I was offered an opportunity to start a home based business and now would never even consider working for someone else.  After operating a few different types of businesses, I found I had a passion for entrepreneurs and small business owners. The course of my life led me to doing some part time accounting work, which then turned into a full time career/business. In the corporate world I had always worked in the financial sector, so I was able to use some of these same skills and transfer them to my new business venture.  I always tell people to look at their skill set when considering new employment or business opportunities.  For example a stay at home mom has learned skills that can be used in many occupations.  She has learned to organize, mediate, work under pressure, supervise, support. . . . Do you see where I am going with this?  Never underestimate the skills that your life has provided!

The life of the self employed is not always an easy one, but it is worth it.  Probably the single most challenging thing we all deal with is what I refer to as “feast or famine”, that is we are not happy when times are slow and we are equally as unhappy when we are too busy!  Over the years I have thankfully gotten much better at dealing with the highs and lows.  I attribute much of this to my meditation and mindfulness practices from my personal life.  That is another interesting thing about the life of the self employed; there is very little separation between work and personal.  Keep in mind most of us are pursuing our passions so work doesn't always feel like work.  While it is important to have a balance in all aspects of life, it is more about being aware of what we need and when (such are the benefits of mindfulness).  

When I first struck out on my own it was a little disconcerting, I became caught up in the hours of work and playing the numbers game.  I often spent hours in my office being unproductive and going over and over my “numbers”.  All this served to do was make me more apprehensive about whether or not I was going to be successful.  With the assistance of my life and business coach I became aware of this pattern of behavior which was a huge turning point for me.  Then I did the single most important thing I have every done for my business, or maybe I should say for MYSELF. I did a business analysis; the one thing I encourage all of my clients to do, but had not done myself!  Going through this process allowed me to see that the work was the work, one way or another it always got done and I was making a living at it.  I could see that year over year I was growing at a reasonable rate and I was also happily maintaining a work/life balance.  Was this not the ultimate measure of success?  Absolutely!  It allowed me to let go of the numbers, to trust that the work would be there when I needed it and to enjoy the slow times just a little bit! The second part of this business analysis was determining who my ideal client was.  When I was stressing about a shortage of work my coach would say “what do you need?” and I would always say “I need more clients”. Then one day she said “how many do you need?”  I thought for a minute and I said “I don’t need more I just need the RIGHT clients”.  So who is the right client for me?  I came up with 3 things that were important to me.  1.  They had to need my services and value what I did.  2.  They needed to pay me a fair price and in a timely fashion.  3.  I had to like them and want to work with them.  Again this process was amazingly helpful. I actually did turn business down because the client did not meet my criteria and I have never been sorry about it. For every client I said no to I had at least one or two more that I said yes to.  Many of us business owners never really stop to ask ourselves what type of client we actually want.  Did you ever ask yourself why there are so many people doing the same thing and are all successful?  It is because we all attract a different type of clientele based on our own personalities and the way we do business as an individual.  Even in a large corporation, the culture of the business and the clients they attract will largely be based on the top level of management or ownership.  So instead of always looking for some ”thing” that sets you apart, try creating your own culture that is based on who YOU are. People are drawn to authenticity, so if you operate from a place that is authentic to you, you will attract the “right” client for your business.  I remember one night in my business women’s group one of the gals, said to me “you would go somewhere else if you could get a better price” and I said “no actually I wouldn't”.  I am what I call a “loyal” client, if I receive good service and I like the person or people I am dealing with I won’t even look anywhere else.  For me it is all about the relationship!   Sound familiar?  Exactly what I want in my own clients is the type of client I am.  If you know what you value for yourself, you will know who your ideal client is.  So instead of looking for the next hot trend or taking another business course, find what your passionate about, figure out a way to make money doing it (even if it is part time or seems like a hobby sometimes, because we all do need money to live and sometimes have to work for someone else while we pursue our dreams on the side) and then let things unfold.  Just keep doing it for the love of it!  Offer the same level or type of service that you would expect, maintain your integrity and don’t compromise your own ideals based on other peoples perceptions or business models. Take any advice you are offered and decide for yourself if it feels right for YOU. Just because someone else has been successful using a certain “strategy”, ie social media, print advertising, networking, etc does not mean it is right for your business.  Part of being a successful business owner and what I love about entrepreneurial people is their ability to use their own creativity and make their own decisions even when it may seem crazy to others.  Forge your own path!

As I read back on this post, again I see that my business and personal lives are really one and the same.  The same philosophies I practice in my personal life are the same ones I practice in my business life.  Staying true to myself, being authentic in my communications, always being mindful and aware, and allowing everyone in my life whether they are my friends, or business partners to pursue their journey in their own unique way.  I guess that is MY unique gift!  What is your unique gift? How can you share it in your own unique way? Find the passion and courage deep in your heart and share it with the world!!