Making the transition from working a regular office job to becoming a self-employed individual is not for everyone. This type of drastic life change is not for the faint of heart. Leaving everything you have known and breaking out of your comfort zone is an extremely brave decision.
Taking on this career shift may have its share of disadvantages, but for the most part, the good points do outweigh the bad. However, at this point, there is a chance that you want to make the change but do not know where to begin. If you are considering this change for yourself, this article is for you!
Becoming a Self-Employed Social Media Entrepreneur: A Guide
Entering a new line of work after doing something extremely different for a long time requires an objective perspective and the courage to make split decisions. Here is a guide to help ensure that the decisions you make will give you the best possible outcome.
Do Your Due DIligence
The first thing you need to do is do your research about the niche you are planning to enter. There may be specifics about being a social media entrepreneur that may not be immediately apparent. Do your research about your potential competitors, the nature of the business you want to put up, and the cost of making this career shift.
Steps to Become a Self-Employed Social Media Entrepreneur
Remember that each person’s journey is different. A strategy that may have worked for someone you know may not have the same effect for you. Here are a few steps to help you become a successful online entrepreneur.
1 - Select Your Operating Structure
The very first thing you need to do is decide if you want to be a solo entrepreneur or if you want to start with a limited company. Making this decision will help you manage your finances later on. If you are unsure of which will work most effectively for you, it may be best to ask for the opinion of an accountant.
2 - Open a Business Bank Account
There are many online platforms that do not work with personal bank accounts. Opening a bank account for your business is another thing that you need to get set up before you begin.
3 - Brush Up on Your Skills
Make sure that you have the right skills to successfully set up an online business. Just because you know how to cook, it does not automatically translate into you having the necessary skills to open a catering business. Make sure that you have all the needed skills to become the type of social media entrepreneur you want to be. If you don’t, enroll yourself in classes to acquire those skills.
4 - Hire an Accountant
Working with an accountant will ensure that you are making the right financial decisions for your online business. These professionals will also serve as business consultants that will help you navigate the waters and ensure that you have everything you need to succeed.
If you are ready to make the shift to doing a job that will bring you joy and fulfilment, then good for you! However, on a serious note, making this decision will affect many different aspects of your life, so it is important to think about each move you make before you make it. Also, hiring a reliable accountant that has experience in dealing with self-employed clients will make all the difference when you make business decisions for yourself.
If you need a skilled accountant to help you run your new social media business, work with the eCommerce Accountant. We have accountants for bloggers and business advisors for online stores and influencers.