After Setting Up a Business - Part 19: Step by Step Into Self-Employment on the Internet
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| Photo by Charles Forerunner on Unsplash |
Because even when the "dust" has settled and the working day returns, there are a lot of things that you should pay attention to for long-term successful self-employment.
<< Part 18 - Success factors
>> Part 20 - Summary and link tips
[Overview of the article series " Step by step into independence on the Internet "]
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| After Setting Up a Business - Part 19: Step by Step Into Self-Employment on the Internet |
After Starting a Business
The following happens again and again with start-ups. During the start-up phase, they are very active, continue their education, and take care of everything important.
But over time you slip into a certain routine and everyday life returns. And then some of the self-employed begin to neglect the small but important activities of self-employment in favor of current and urgent customer orders.
This may not look so bad at the beginning, but over time it can put your independence at risk.
That is why I would like to give you tips in the following, which things should not be neglected even after starting a business.
8 Tips for After Starting Your Business
- Marketing
Once you've got your first orders and put in overtime, it's easy to assume that you can cut back on customer acquisition.
Unfortunately, it is often the case that nothing is done at all because there is simply no more time for it.
Overall, however, it is important to continue marketing and attracting customers even in times of high volume. Because in many industries the marketing measures take their time and it is often the "constant drop that erodes the stone".
Anyone who only switches advertising in panic when orders are running out usually has to go through a tough dry spell. - Customer Loyalty
Also not to be underestimated is customer loyalty. While new customers are of course always important and welcome, one should not do without existing customers, which are much easier and cheaper to keep.
For many companies, good customer loyalty is the basis of success.
With all the stress with new orders and marketing measures, you shouldn't forget your existing customers. - Assortment
At the beginning of self-employment, you gave a lot of thought to your assortment and prices.
However, the reality then usually looks a little different. Over time, of course, you gain more experience and have more customers.
That is why you should work regularly on your range and optimize it. - Adaptation to Changes
In addition to the changes that affect the product range, there are of course many more changes that influence your independence.
The market can change, the target group (s), competitors, suppliers, legal framework, etc.
Life means change and that also applies to independence. Only those who pay attention to these changes and adapt to them can be successful in the long term. - Building Up Pillars
Nothing in life is safe. Even in self-employment, a market may collapse, competitors, force you out, profits collapse, etc.
It is therefore important that over time you position yourself more broadly and establish several financial pillars.
Anyone who relies on only one source of income in the long term can experience a rude awakening. - Taxes and Duties
As a business start-up, you are still relatively well off at the beginning. Since the income is usually not very high at the beginning and some of the taxes are only due after a certain time, you usually do not have that much to do with taxes and charges at the beginning.
If your own business then develops positively, you should be very careful and plan financial resources, for example for the tax office or the trade office.
A lack of financial reserves has driven some self-employed into major problems. - Financial Planning
In general, you should make sure that you plan your finances well after creating the business plan (including the liquidity plan).
In contrast to employees, the self-employed often not only have fluctuating income but also fluctuating expenses.
Here it is not only important that you generally put on a cushion, but also keep an eye on the financial needs of the next few months (and possibly years) with foresight. - Further Training
And of course, you never stop learning. This wisdom from my childhood also holds for the self-employed.
As I said, life is change. That is why it is important to keep pace and keep educating yourself.
Only then can you develop your own business further and adapt it to the requirements of the times.
Anyone who stays with the knowledge of starting a business will at some point have severe problems.
Conclusion
You shouldn't consider starting up a business as a completed process and then you're done.
Even if the start-up phase is certainly the most difficult, work on your success continues afterward.
As a self-employed person, you can't just put your feet up and think that everything will now run by itself.
So It Goes on
In the last part of my article series “ Step by step into self-employment on the Internet,” there is a summary and I link a few other interesting sources.
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