We are living in a world where more and more people are becoming self-employed and I believe that this trend is going to go upwards. I think that in the future the majority of the work force in the UK will be self-employed and businesses will contract in freelance staff for particular projects or outsource. The flexibility will be enormous! As more individuals become self-employed I believe that the diversity of products and services is going to explode! Every niche will be filled and we will have the ability to find a business that caters directly to our needs. I think that self-employment drives more creativity and allows new ideas to flourish.
Don’t wait until you’re 50 to start a business that’s been in the back of your head since you were 21 because by then it will be too late.
Along with all these new businesses starting now and in the future, there will more competition for business and the actuators of their vision will rise to the top. Business favours those who take action, test and learn to fail quickly. The most important lesson I feel will come from this new era of entrepreneurship is ‘make things happen’. Don’t wait until you’re 50 to start a business that’s been in the back of your head since you were 21 because by then it will be too late.
We have slumped into a time where we can get whatever we want with very little effort at all. Food, dates and video are all at the click of a button with apps like Hungry House, Tinder and Netflix. I believe that this new age we are stumbling into will reteach the ethos that hard work gets you what you want. Building businesses out of necessity as our culture changes will force us to work in ways that most of us aren’t used to. Yeah, there are videos on Youtube of ‘how to market your business’, ’10 ways to appear on the front page of google’ and ‘how to get £5000 a month’. But it is not instant, it takes time and work, by doing things! There is no comprehensive step by step to building a business. You can’t watch a video and do it 5 minutes later and get the same result like if you watched ‘how to change a fuse in 5 minutes’. It is not standardised, which is both a blessing and a challenge. A wave of immense creativity is going to arrive and at the same time I feel a train wreck is on the way.
There is no comprehensive step by step to building a business.
Most people don’t know how to run a business by themselves. To some of us it seems natural and for others it seems like another planet. There’s a lack of security financially, you don’t go into an office every day and leave your work at the end of the day either. You drive your business and if you stop then it stops. No sick pay, to pension, no steady income for a time. This will unsettle and buck the trend to what most of us are used to. The 9-5’s will disappear and 1 man bands will replace the staff that used to be on payroll. I feel it will be a turbulent time whilst our society goes through this shift in thinking and becomes attuned to the new way of thinking that is required to thrive.
It’s important that as we move towards this work ethic that individuals learn to self-educate themselves in both a wider skill set and to develop themselves personally. As 1 man bands set up they typically need to be able to run all aspects of their business whilst they get going. From bookkeeping, marketing, coding websites, setting up pensions, developing products and sales to name some. They must become multifaceted to be able to keep their costs low in the initial stages.
You drive your business and if you stop then it stops.
I speak also of personal development because the mindset of an individual when becoming self-employed can change an extraordinary amount. You are at the top, there is no manager that tells you what to do and where to get your leads from. For some people this can be a sobering thought and can cause people to feel isolated and overwhelmed. Couple this with our ability to be over critical of ourselves or brand ourselves as failures, it is imperative that we know how to look after ourselves mentally. Being emotionally, mentally and physically fit are the cornerstones of a good business, because if we don’t look after ourselves then the business fails! Being able to acknowledge the signs that we are stressing ourselves out or we are burning out, are valuable traits to have when it comes to running a business. Our self-awa
reness can catch us before we become drained and we can take steps to make sure that we recuperate and gather ourselves.
I believe that it won’t be long before this era is upon us. It is gathering momentum already as more and more of us turn to working for ourselves and entrepreneurship. Be sure to arm yourself with the knowledge that you need to maintain balance for yourself and your business. Be aware of the resources that you will need, and most importantly, act!