self employment

Stuck in the minefield of choosing a career? Self employment could save you stressing

Choosing a career in this day in age is a whole different minefield from even a few years ago. The career market is saturated with young people who can’t get jobs. Even people just leaving university are struggling to place their skills anywhere. Qualifications are no longer all it takes. With the market so competitive, it’s easy to feel hopeless during your job search.

The good news is, recent years have opened up a whole new career option for you. Never before has it been so easy to make money from home. More and more people are turning to self-employment. Self-employment is a different world to the traditional job you’re taught to expect. Many avoid it because it doesn’t offer the same security as regular employment. Businesses keep folding, and employment laws are always changing. Job security is becoming a thing of the past. This might be the time to start on your self-employment journey. You will have to register yourself as self-employed as soon as you start making money. You will also be responsible for keeping track of your earnings. If you’re successful in your self-employment journey, it’s worth hiring an accountant. Before you get to that stage, you’ll need to consider your money making options.


Blogging

Blogging is an increasingly popular way to make a living. This is an excellent choice and could lead to a job you get a lot of satisfaction from. The bonus here is that you can choose whatever niche you like for your blog. If you have qualifications, you could use them to help you write a blog that gets big. Before starting, it’s worth looking at the blogs already around. The more unique you can make your blog, the more successful it’s likely to be. A blog that’s just like all the rest is less liable to do well. Don’t think you’ll make money instantly with this option. Just like any new business, a blog needs work before it starts paying off. Interact with other blog owners and they’ll encourage their viewers to visit your blog. The more page views you get, the better.

Don’t worry about having a great deal of online knowledge when setting up your blog. Online tutorials can show you what to do. If you want a guide to hand at all times, you could invest in one of many blogging books available. Once you’ve got your blog set up, your content flowing, and your readers regular, you can turn your attention to making money. Money making options are enormous for bloggers. You don’t need to get your head around all the options straight away. The main one you need to know about is advertising. This is an excellent place to start. Once you have traffic on your blog, companies will be willing to pay to advertise on your site. Also in the realm of advertising is affiliate linking, where you link to products on your blog. Once you’ve established your readership, you could start offering them products. Depending on what your specialist subject is, you could create an ebook to promote on your site. Get innovative and think of what products would fit with your blog’s niche.

Money from your audience

If you have a creative skill that you want the world to know about, you could turn to your fans for funding. Having a blog, or creating a Youtube channel, could mean your fans start paying you for your content. Sites like Patreon have made it possible for those in the creative field to receive monthly payments from their fans.

Again, it’s important to build an audience before this option is workable. Do this by communicating with people who are already successful in your chosen field. Supporting other artists will help you gain support yourself. Patience is key here. It’s also important to consider what perks you are going to offer the fans who support you. These don’t have to be bank breakers. Again, ebooks are a good and cheap option. You could offer your content itself as a perk. Even just sending out handwritten thank you notes can work well. It may seem strange asking fans for money, but it’ll surprise you how willing they are to help you out. In this interactive age, fans like to know their money is going to the person they’re supporting. Cut out the middleman and set up a money giving page. Make sure you stick to any rewards you promise, though. Letting fans down will destroy the trust they’re putting in you.

Freelancing

Freelancing is like blogging in a lot of ways, though there’s less focus on readership and more attention to the quality of your content. If you’re the type of person who likes to take credit for their work, a blog will suit you better. There are various ways to work as a freelancer, but they all involve selling the pieces you are writing. Sometimes you will be credited for these pieces, but often you won’t. Not having to worry about building a readership can come as a huge relief. While you have to work at a blog, it can be a lot easier to make money as a freelance writer. That said, it’s good to build up some examples to show to potential clients. Being able to reassure them that you can create good stuff is essential. A lot of the time in the freelance world, you will be bidding against other freelancers for jobs. Start building a portfolio that you can show in the future.

This choice is also better for you if you don’t have a particular niche. You don’t need to worry about creating an eye-catching blog or a unique idea. You’ll usually be working to a brief, which saves you having to think up a concept. It’s still important to try and think of a unique angle for any content you’re writing. Your client won’t want a post that’s just like all the others out there!

It is possible to make a name for yourself when freelancing, but you need to have a little more patience. You also might have to wait a little while before you reap any rewards. If you’re interested in journalism, you could send off samples of work to publications. Be prepared and patient if this is the path you’re going down. You never know, though, you might just strike lucky with the right idea!

Investment

Investing in stocks and bonds is another way to start earning money. This choice can be lucrative if you do it right. This is only an option for you if you have a few bucks behind you. If you’re lucky enough to have savings, investing is a great way to see that money come back to you much increased. If you invest in the wrong companies, you stand to lose all your money and be worse off than you are already. Before you make any decisions, take the time to study the market. Get an idea for which companies are likely to provide you the best payout. If you’re interested in getting to know more about the market, grab details from Money Morning and sites like it which can give you an overall view of what’s going on!

If you’re going down the investment route, it’s also important to know how you’ll make money. There is no guaranteed payout here. Use this option alongside other freelance work. Stock payouts come in dividends. The fact they aren’t guaranteed also means they aren’t set in stone. It’s possible that they’ll rise or fall. If they rise, you could be looking at serious money. This is why it’s so important to take your time when choosing which companies to invest in. There are people on Wall Street who do this for a living, and even they get it wrong sometimes! Studying the way stocks rise and fall over the space of a few months will help you invest your money in the best place.

These are not the only options for a freelance life, either. The world is your oyster when you’re working for yourself. Are you interested in setting up your own business? Again, you’ll need a little money behind you for this. If you have a great idea, most areas offer schemes for new ventures. Set up a business pitch and see what you can achieve! No longer do you have to worry about keeping your boss happy. Of course, there are downsides to not having a boss to worry about. You have no one to fall back on, so if things go wrong, you’ll have to deal with the fallout. You will need plenty of motivation for this to work out. You might put in a lot of work before you see any money, but it will be worth it. Working from home may allow you to work in your pants, but that doesn’t mean you can let your work slide. Stay motivated and reap the rewards of your dream job!

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Fancy being an entrepreneur? Perhaps you have used extra time at uni to start a business already? Let us know in the comments

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