Unemployed Individuals Can Work For Themselves With These Tips

Today's post is courtesy of Cherie McLaughlin of couchbasedbiz.com

Looking for work can be an incredibly frustrating process, especially during these uncertain times. The competition can be tough, but you can forge your own path by working for yourself. 

Whether you’re looking for a full-time job or just a side gig to make extra money, there are some important things to consider before you jump in, including figuring out what your skills are and whether becoming an entrepreneur is right for you. Read on for tips on how to get through the process of starting a business, courtesy of My Carpe Diem Life.

Prepare to work from home

There are lots of options available nowadays for those who want to become an entrepreneur, including freelancing or starting a small business. No matter which path you choose, the key to working from home is to set realistic goals for yourself; otherwise, it will be a struggle to get your work done when something unexpected pops up, such as a doctor’s appointment. It’s also crucial to set up the right workspace, including a solid internet connection and a laptop or computer with lots of storage space. If your current device is a few years old, consider upgrading. You can find some great online deals with several options to choose from so you can make the most of your budget.

Make yourself marketable

Once you’ve created a workspace for yourself, think about how to market your business. Whether you want to sell handmade scarves or baked goods, Ecommerce Platforms notes there are several online platforms and resources available for entrepreneurs to sell their wares and services these days. While there are typically fees associated with these sites, they can also help you build your brand and get exposure to a wider audience. 

If you have experience with email marketing, social media tools, or creating a website, utilize those valuable skills and get to work putting your brand out there yourself. You can also take advantage of an existing blog, or create a new one that uses ads for monetization. 

Select your business structure

Before you get your business up and running, you need to register with your state for tax purposes. This will involve selecting a business structure, which can feel pretty complicated if you never had to think it through before. There are all sorts of terms to learn before you make a decision; for instance, you might be wondering what is a sole proprietorship business? Should I use a DBA (doing business as)? Do some research and make a decision with confidence.  

Plan for paying your taxes

Working for yourself comes with many benefits, but it also means you have to plan for tax time a little differently. TaxAct points out that many people who are self-employed must pay their taxes quarterly, although this means they aren’t left with a large lump sum due at the end of the year. Talk to your accountant about how to set up such a plan, and learn more about your responsibilities as a self-employed individual. 

You’ll also need to obtain a business license in your city, which typically costs a small fee and is issued after you pay any local tax due for the year. 

Becoming an entrepreneur takes a lot of dedication, but if you’ve struggled with finding the right job lately, it might be for you. Network with other self-employed individuals or small business owners on social media, as this will help you make valuable connections and gain insight as you get started.

For more ideas and information to encourage and inspire you, connect with My Carpe Diem Life.

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