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What traits do you need to make self-employment a success?

There’s no doubt that the coronavirus pandemic has reduced self-employment levels to those not seen since 2015, with approximately 2.94 million men and 1.58 million women working for themselves in August of last year.

However, this temporary trend will begin to reverse as economic growth returns in 2021, as self-employment regains its status as a flexible, attractive and ultimately lucrative method of generating income.

In this post, we’ll explore this further by taking a look at the traits that are required to make self-employment a success!

  1. Transferable Skills Such as Problem Solving

It’s inarguable that self-employment isn’t for everyone, which is why such a large number of those who work for themselves were forced to seek out alternative ways of working during the coronavirus pandemic.

However, you can increase your chances of success if you have a series of transferable skills, with problem solving offering a relevant case in point.

Critical thinking offers a similar benefit, and one that enables you to cope with the universal challenges associated with self-employment (such as money management and proactively seeking work).

Organisation is a similarly beneficial skill, which enables you to manage your workflow easily and handle self-administered tax submissions.

  1. Commitment and Dedication

Whether you choose to launch a window cleaning business or become a full-time day trader in the forex market, you’ll need to show commitment and dedication if you’re to ultimately succeed.

For example, launching a career in self-employment can be incredibly taxing, while you may need to start small and by offering competitive pricing before increasing your fees in line with experience and demand.

You’ll also have to commit to working some serious hours from the outset, particularly if you do decide to charge competitive prices and are initially required to take on additional work to make ends meet.

  1. Open-Mindedness and Self-motivation

As an aspiring worker who wants to operate as a self-employed individual, you’ll also need to be open-minded and inquisitive.

This makes it easier to learn and absorb information about your industry over time, with this central to improving how you work, market yourself and interact with potential clients.

It’s also important that you showcase ambition and self-motivation, with the latter particularly crucial as you’ll be required to drive yourself in the quest to accomplish individual goals.

This combination of drive and ambition is also crucial to long-term success, as you look to maintain the requisite levels of motivation and continue working even through challenging periods.

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