The Secrets of Self-Employment

ShhhhGoing from a ‘secure’ job to self employment is, for many, a tough decision, especially when it affects so many things, such as your lifestyle, family and friends.

Yet, the first question many ask themselves is ‘do I have the skills? Don’t get me wrong, it’s a valid question, especially as it could mean going from the role of a Web Developer, Accountant or Hairdresser to now adding Head of Finance, Sales and Marketing amongst others.

We asked a number of our co-working community to help you by answering the question: “What are the secrets that no-one tells you about going self-employed?” These are their answers:

  • It’s more secure than a ‘job’.
  • You sometimes miss having a boss. (It’s worth noting that this point was largely disputed)
  • It’s lonelier than you imagine it to be while you’re longing to be rid of your annoying boss/co-workers. So plan for it.
  • Businesses (even large) are just as close to no money as you, they just have a department to worry about it.
  • There’s nowhere to hide in your own business.
    • (although, if you work at home, your TV set will tell you otherwise)
  • Removing the safety net of your salary is far outweighed by the removal of the upper limit of your potential earnings.
  • Failure is positive because it means you’re actually trying to achieve something.
  • Your partner/family will feel it so prepare the ground.

What about you? What have you learnt about running a business that you didn’t know before you started? And, if you did know, would it have made a difference?

Email us at info@cambridgebusinesslounge.com or on twitter @CamBizLounge. We’d love to hear from you.

What Is The Workplace Revolution?

Coworking spaces are curating a form of social animation and engagement, in the way that the 18th Century coffee houses did the same.

As this clip from BBC Radio 4 teaches us, coworking is a alternative to working from home that increases productivity. It allows corporate refugees to work nearer to home and improve their work/life balance, and also provides a platform for social interaction with like minded professionals. A concept that working from home simply doesn’t provide.

If you haven’t tried coworking yet, then give it a go.

If you’re in or around Cambridge, then get in touch at info@cambridgebusinesslounge or 01223 324040, and learn how you could try out coworking at Cambridge Business Lounge for free!! 

How Coworking is Changing How and Where We Work

Watch one of the best videos to explain the concept and benefits of coworking…

Now you’ve seen it, have a look into working from Cambridge Business Lounge, or try us out for a day with our compliments. Email info@cambridgebusinesslounge.com for more details or call 01223 324040.

10 Tips For Starting a Business

Each week, we ask the coworkers at Cambridge Business Lounge, as well as other members of our growing business community, for their thoughts and ideas to help other start-ups and  small businesses.

This week, we asked the question “What advice would you give to a new start-up?

As ever, we weren’t short of responses (thank you to every one who contributed) and the responses were…

  1. Don’t take all of the revenue out of the business – re-invest!!

  2. Make every friend possible and help them.. It pays back.

  3. Be flexible and provide what the market wants, not what you want them to have

  4. Get your product sold to paying customers asap. i.e. validate that people will pay

  5. Sometimes things that are really low cost are great, but sometimes a false economy. Learning which is which can be painful – best consult people who’ve done something similar and vet your vendors carefully

  6. – Consult people lots

  7. Being self employed, doesn’t need to mean ‘being by yourself-employed’

  8. Fail often and learn

  9. A start up is like having a baby. Think twice before doing both at once.

  10. Do at least two years of financial projections before you go ahead

What about you? What advice would you give to a new start-up business. Email info@cambridgebusinesslounge.com or tweet @CamBizLounge and we will post a selection of responses below.