Majorly Stressed About Self-employment

[barefoot]

I got made redundant a year ago - it was a big shock, it wasn't what I wanted, it was a stressful time BUT I got a decent redundancy package and was determined to see it as a new opportunity.

So, I invested in some training and started working for myself. I've had a number of private clients and I enjoy the work and think I'm good at it but I haven't been making much money. This was ok....I knew I wasn't going to have a thriving business and be making lots of money overnight! So, I've been living off the redundancy money.

The money is now running low...it's not going to last longer than another few months. I've lost a few clients (not for any fault - the work has completed but I haven't got new clients to replace them). A couple of potential new clients have just said they can't afford to hire me at the moment.

So, I've now only got a few clients, which means that I'm not working much and I'm earning very little money. I'm getting very, very anxious about money. And I'm worrying about how I'm going to get more clients. And I'm starting to think that I've made a mistake and that this isn't going to work. I'm finding myself thinking that I might need to "get a proper job" again. And that just makes my anxiety rocket even further.

I really like the work I do. I really like working from home. I like things like not having to commute, having flexibility around my working days, being able to work around when I'm not feeling the greatest, not working in an open plan office, not dealing with corporate bullshit etc.

But I'm just really panicking about how I can ever really make what I'm doing work financially. I'm really worrying about it. I feel very anxious and very teary. And I think the panic and anxiety is making me even more stuck and unproductive and unmotivated.

I don't even know why I'm posting as I don't have a question. Think I just need to have a moan...

 

[SoSadGuilty]

I got made redundant a year ago - it was a big shock, it wasn't what I wanted, it was a stressful time...

Without knowing what your profession is it is hard to give solid advice but I've been where you are now approximately 2 years ago. January is the worst month ever in terms of trying to get new business. Everyone is recovering from Christmas and just trying to work out how the year ahead will pan out. Hold tight, do some work on your LinkedIn profile to make yourself more visible, do a bit of networking and I'd be willing to bet that by the end of January you'll be flying again.

 

[barefoot]

Thanks @SoSadGuilty - that helps a bit to hear. I do personal development/career coaching type stuff, so had hoped I could tap into new year, new starts, changes, resolutions etc. But people just seem poor and jaded. Like me! ;-)

 

[lostforgottensoul]

But I'm just really panicking about how I can ever really make what I'm doing work financially.

Google started by a few guys in a garage as a search engie up against the search engines that were already there and working, then Chrome, then they made android (Linux based so I dont get why its like Pepsi vs Coca Cola, android vs Iphone but it is) then the Chrome book (an entire computer android based (linux underbelly) etc. They also own youtube and get paid by advertiaers. Facebook also started like that, though free, people leached to it and still do, becoming addicted to it so advertisers saw it, paid him and there you go and at the time people were all "MySpacers", Facebook recently hit the stockmarket. Basically what Im saying is make everyone aware of whatever it is you do. Even in the horrible state the US is in now, there are many people now making up products, getting backing, showing a horrible made commerical about it then a week later you see it in the "As Seen On TV" aisle at Walgreens and Walmart. Advertise on your down time. Make a crap load of business cards, buy some business card holders and ask local businesses (not the same as yours) if you can leave your cards in a card holder on there front cashier counter; make up flyers and put them out (i would on doors than cars as that happens A LOT here and im more apadt to read it if its on my door than my car), hand fliers out to people, some may stop, take that time to talk about your business. Be your own commerical. I know its hard to have your own business (though they are my abusers, my mom and step dad owned their own Dry Cleaners, did the laundry and pressing etc in the house with 4 washers & 4 driers, 3 small steam pressers, a plastic wrap station; and due to the dangerous chemicals had to farm out the dry cleaning to one with a building of their own and gave them a portion of the payment) but my point is i saw them struggle and how my mom had to do the bills, save all receips to write off on taxes and had to do takes (here in the US) 4 times a yr instead of 1. They made a car advertisment by having an A/C vent cover (a big magnet with a white side) and had the business name (which included the type of business) and the number and since it was a magnatic it stuck on the car. Put signs up coming in and out of shopping strips (how i got the number of the people whom paid me $300 to junk my non-running car) it was simply "we the most money for junk broken cars" with the number. I was waiting at the light to turn out of walmart, saw it and saved it in my phone. I was $300 richer which went towards my new car than i would have been to give it to a junk yard for free. Make up an event, hand out fliers and invite all of your friends and family then tell them to invite everyone they know then give out free whatever you do (Avon, Mary Kay). Word of mouth is the best way to advertise. "Oh my gosh, I go to this AWESOME salon that does my hair, nails, face etc so well, ive never had it done this well before", now im more likely to call YOU then the salon i usually go to. Then become a reoccuring client. Take this businesses ive named, whatever fits for you and throw yourself (your business) out there, the time you spend worrying is time you could be out advertising. Also look on monster etc for part time or full time work and apply, apply, apply. I work full time but i also am a come to your house and fix your computer person, im not an offical business, it started accidently as i fixed my family's PCs for free and one said "come fix mine, i'll pay you" so i just do it when people ask me to and its all word of mouth advertisment. Ask your clients to take your business cards to work or tell their friends and family. Anything to get your name out there cuz theres more people, they just dont know about your business.

 

[AnnaLost]

I've been self employed for 20+ years. January is always the hardest month. Companies are setting their budgets and individuals are experiencing credit card shock from the holidays. I usually see things start to perk up end of Feb early March.

I traditionally use this time to put my house in order, get any old paperwork done, taxes, etc. but I also focus on reaching out and putting myself "in front" of prospective clients, via email asking for referrals/checking in, Facebook (I manage several pages), and posting articles or tips on LinkdIn. This keeps me in people's minds for when they are ready to move forward on their projects.

I've had some serious lean times for sure, but every year it ends up working out. :)

 

[watundah]

I feel what you're going through. I have been off for a year, living on severance, refuse to go back to corporate and am launching back into my first love, art and photography. It is damn scary when you're used to the reliable paycheck, especially when the savings slowly dwindle.

I think it may be calming to sit with blank paper and brainstorm about marketing. Isn't it always helpful to have a plan, even a loose one? No doubt you have the talent, you just have to get out there and become known.

Craigslist? Post business cards and flyers around town? Offer classes or seminars at community college/recreation centers/etc., create a business facebook page and continuously blast on it ...etc. Find networking groups for women. Then do at least one thing a day to move your biz forward. It will be a slow process because that's how business grows. I think owning and doing what you love is so rewarding. I wish marketing just magically happened because it sucks canal water. But challenge can be fun. (Um, yeah). You may want to supplement with temporary or part time work, walk dogs, whatever, but give yourself another year. ( Can you tell Ive thought about this?)

 

[kona355]

And I think the panic and anxiety is making me even more stuck and unproductive and unmotivated.

I totally get this - if you get to the point that you want ideas about marketing your services let me know via private msg. I can give links to marketing resources I've used.

ps - AnnaLost and watundah both offer marketing sources I've used. It's hard putting yourself out there, don't take the sound of crickets personally : )

 

[watundah]

Do you do bundled pricing?...have a website?..coupons prompt people..(churn churn) .best of luck!

 

[barefoot]

Thanks everyone. Thanks for sharing your ideas and experiences. It's reassuring to hear that January can be a tricky time and there are definitely some ideas I can take away and do.

There are some marketing things I've been procrastinating about for a while - starting a Facebook business page and setting myself up on LinkedIn (exactly, I'm not currently on LinkedIn - I know, I know...!), putting some business cards in local businesses/on notice boards, adding a blog to my website etc. So I know I should just be doing some of those things instead of just sitting getting more anxious. Because I know I'm just wasting time and energy by getting in a tizz. Think I've hit overwhelm and it all feels so daunting and hopeless.

I'm going to do a marketing brainstorm tomorrow morning because, I think @watundah is right - it could be a calming and motivating exercise that helps me to move forward and get into action with some ideas.
I need to find a way to break the ideas down so that I have a plan that feels manageable instead of it feeling so vast and off-putting and unachievable. Which is how it feels now.

 

[scout86]

I'm also self employed, but in a totally different kind of work. I've done some moving around and moved back to this area about 5 years ago and set about reviving my old business at the bottom of the down turn. Thought I was going to starve! LOL I found a couple of part time jobs to help pay the bills. One of them I'm actually still doing, even though I don't need the money that much these days. The first of those jobs had the added advantage of getting me out where I'd meet people and give them the chance to go, "Oh, you're back? Are you still doing what you used to do too?"

Getting started, I've found it helpful to learn what people DON'T like about the competition. In my case, that's things like "doesn't show up as promised, doesn't return phone calls" etc. Easy enough to do. So I make sure (usually!) that I do it well, which sets me apart. I don't know anything about your field, so I'm not sure the best way to approach that. What about is you developed a flier of some sort, and sent it to people who might hire someone in your line of work and asked them what they like and don't like about the performance of people in your line of work?

I think it's normal to be worried and normal to have slow times. But some kind of part time gig to help pay the bills for the time being might give you some peace of mind.

 

[barefoot]

@watundah Yes, I have a website. I like it and have received good feedback on it. I'm just aware that at the moment it's really a shop window to point people towards once we've already connected. I don't really have any expectations about picking up new business through the site via random Google searches etc. But I think I can do more with it by co-ordinating website, blog posts, Facebook page, so I think that's probably where I should start. It sounds like a lot of work and that I don't really know what I'm doing. But I think I probably know more than I think and should just sit down and get the f*ck on with it!

I joined a women's networking group a few months ago. I hate it and dread going! So I need to find some ways to get more comfortable with it and to make some connections/opportunities there.

Good luck to you on your venture too! It's a massive change and wonderful in so many ways. I'm just finding that lack of security really scary at the mo...

 

[lostforgottensoul]

it could be a calming and motivating exercise that helps me to move forward and get into action with some ideas.

Take it from someone with MASSIVE anxiety; working and helping people fix their internet and PC (I work for an internet company as an internet and PC tech in a call center) takes my mind completely off my issues (as long as they arent ripping me apart; yelling i can handle; calling me a c-nt and other things i cant) but my point is, staying busy even if it is just brainstorming advetisment ideas will generally lower tour anxiety.

Think I've hit overwhelm and it all feels so daunting and hopeless.

I need to find a way to break the ideas down so that I have a plan that feels manageable instead of it feeling so vast and off-putting and unachievable. Which is how it feels now.

Breaking down exsisting ideas is good place to start but this is why I put in examples (google, facebook, avon, maty kay; depending on what your service is) but take a or some well known business, even local well doing small businesses, take some advertisment ideas from them. What did google do that made them from 2 guys in a garage to the empire they are today. Facebook had what MySpace didnt, games you can play with friends (advertisers pay them and are now in the stockmarket); what can you do different than other people in your type of work and then push that and higjlight that and all you do to people, as much as possible. You can put up websites all day long but if people dont know about it, it never raises itself in a google or bing search then what good is it? A car sign with the website address. Think of ideas of what you can bring to people and/or do for them that no one else is doing that, this is important, they will want. Take an advertisment class (i would) cuz advertisement has more to do with appealing with what people want. For instance, Pepsident, early 1900s, only 7% of American's were even brushing their teeth. They brought the tooth paste to a well known food advetiser and he knew that health or not loosing teeth wont apeal to people so he found out what the yellow film on teeth actual is, plaque, and advertised the tooth paste as to get the yellow film off your teeth to be beautiful. Therefore he appealed to beauty, not the health of your teeth, to get people to even want to brush their teeth. In your line of work, what do people want?