A Success Coach Shares 7 Mistakes Made by Self-Employed Newbies

A little over a year ago the government had a small round table meeting with approximately forty business leaders from various industries. Out of that discussion, the consensus was that our education system has to stop teaching its students to be employees, and instead shift the focus to training entrepreneurs. As many people are starting over in life in the realm of the self-employed, there are common mistakes the newly self-employed make. Here are 7 of the most common.

Self-employedA little over a year ago the government had a small round table meeting with approximately forty business leaders from various industries. Out of that discussion, the consensus was that our education system has to stop teaching its students to be employees, and instead shift the focus to training entrepreneurs. As many people are seeking advice about starting over in life in the realm of the self-employed, there are common mistakes the newly self-employed make. A success coach shares 7 of the most common.

1: Asking for advice you have no intention of following

Don’t ask a success coach or a veteran of your industry for advice if you’re not going to follow it: don’t waste their time and yours. If you’re going to do it your way anyway, then do it and learn on your own.

2: Believing everyone is a customer

As a self-employed person, time is money! It’s a waste of time trying to sell to people who simply don’t need or want your product. Not everyone is a potential customer, and the faster you realize that the more sales you will make.

3: Overspending

You don’t need ninety-five percent of the junk you think you need to become self-employed. If what you’re contemplating buying isn’t going to have a positive and direct impact on your income, wait. Your focus should be 100% on generating income, or you won’t be self-employed long.

4: Faking it until you make it

Pretending to be bigger than you are is a waste of time and will not earn you any income or respect that matters.

5: Assuming a signed contract is a “done deal”

If one of your clients backs out of a contract, you might be entitled to damages, but do you want to go broke in court trying to enforce it? Consider dishonored contracts a cost of doing business, and move on.

6: Ignoring your gut

Over time your business instincts will improve, but do not ignore them in the beginning. They are far more often accurate than inaccurate. Trust your gut, and trust it fast.

7: Chasing the money instead of your passion

If your business idea doesn’t come naturally to you, find another one. Steer clear of “get rich quick” or “get rich easy” ideas. Keep your eye on the bigger prize by pursuing your passion. Do what you love and you’ll never work a day in your life. Your time will come.

The world of the self-employed is an exciting one. However, it’s going be more work than you want to do and take more money than you want to spend. Having said that, what’s the alternative? What’s your financial freedom worth? Either way, you’re going to have to work hard. Would you rather work hard for someone else, or for yourself? You know your situation better than any success coach, but if you choose the latter you can save yourself a lot of time and pain by avoiding the above 7 mistakes.