Is self-employment and business ownership the right fit for you during COVID? - a podcast by Fleur and Kym

Career after COVID-19 Podcast Episode 17: Is self employment right for me?

1. 
   Shout out to our Victorian friends and family members, who have gone back into lockdown, to healthcare and frontline workers, as well as those doing it tough because they're in a disadvantaged or unhealthy living situation
   


2. 
   What's in this episode
   
   1. 
      Deciding if running your own business is the right decision for you
      
   
   
   2. 
      This is not about assessing a business idea, that is in following episodes
      
   
   


3. 
   Why is it important to consider self-employment at a time like this?
   
   1. 
      Unemployment and underemployment levels are at all-time highs in most parts of the developed world, meaning many more applicants for each job available
      
   
   
   2. 
      This crisis could turn into an opportunity to turn hardship into career and business success
      
   
   
   3. 
      You may never have this much time and space in your life to truly explore business opportunities
      
   
   


4. 
   How to determine if self-employment is right for you?
   
   1. 
      Use the range of self-assessment tools we discussed in previous episodes to see if you have the relevant traits. There's also a link in the show notes.
      
   
   
   2. 
      Do you have relevant experience in the industry you’re considering entering?
      
   
   
   3. 
      Do you thrive on challenges?
      
   
   
   4. 
      Do you have the discipline and motivation to keep going when times are tough?
      
   
   
   5. 
      Do you enjoy making and being responsible for your own decisions?
      
   
   
   6. 
      Are you prepared to work long hours including weekends?
      
   
   
   7. 
      Do you have sufficient personal savings or an alternative income to live off during the early stages of your business?
      
   
   
   8. 
      If you have a family, do they understand that there may be less income and time available to spend with them while you are starting your business? Do they support this?
      
   
   
   9. 
      Are you prepared to develop your skills and knowledge in areas that you will need to effectively run your business?
      
   
   
   10. 
       Are you prepared to seek assistance from professional business advisers?
       
   
   
   11. 
       Are you prepared to take the risk of not succeeding and losing all the money you have invested?
       
   
   


5. 
   Do you have the requisite skills?
   
   1. 
      Financial management, marketing, sales customer service, communication and negotiation, leadership, project management and planning, delegation and time management, problem solving, networking.
      
   
   


6. 
   Pitfalls to avoid when assessing readiness for self-employment
   


7. 
   Summary and next steps
   
   1. 
      Join Facebook group
      
   
   
   2. 
      Follow us on Twitter
      
   
   
   3. Visit our website: careeraftercovid.com
   
   
   4. Pre-order the Career after COVID Book
   
   
   
   

Further episodes of Career after COVID-19

Further podcasts by Fleur and Kym

Website of Fleur and Kym