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Tag Archive business

You can set up your business with some business coaching

How do I start my own business?

As a business coach and a business owner, I get a lot of people telling me they’d love to work for themselves. Many people ask me how it’s done. So I thought I’d share my story, insights and knowledge. Here are the questions you should ask yourself:

 

Why do you want to work for yourself?

Knowing exactly why you are choosing this path can be helpful. Try to think about what your top 5 core values are for your business practice. This is basically your vision for your business and will help you decide if you are doing this to try to be more in control of your life and schedule, or because you want a business venture, or because you like the idea of being able to wear PJs and work from home! Here is a list that is nowhere near exhaustive.

 

Should you ease into it or throw yourself in?

People often ask if they should quit their 9-5 job and begin being their own boss. It depends entirely on the industry in which your business is location and your financial needs. It also depends on whether or not your boss will let you go part-time whilst you set up your new venture. If you are someone who values financial security, then you might prefer to ease yourself in. If you are someone who just wants to work in your current job until you are ready to launch, then that might be seen as the middle group.

But if you are someone who thinks that, unless they take drastic action, they won’t actually do it, then possible throwing yourself in completely might be right for you. But only you can know what is right. If you are unsure, I suggest you get some business coaching before making such a big decision as quitting your 9-5 job!

 

 

What practical things do I need to know at the start?

Once you decide on an industry, your business location, and your core business values, you can get started! You need to register your business with HMRC so that you can start paying tax. It is advisable to get an accountant, particularly for the first year. This is because, for the £250-400 you spend on an accountant, they will be able to advise you correctly about what you can claim against your taxes (expenses and business set up fees) and what you cannot.

 

You should also make sure you set aside enough of your income to pay your tax and NI. HMRC require you to pay your tax bill in the January following the last tax year. (I.e. for the tax year April 2018- April 2019, you pay your tax bill before the end of January 2020.)

 

I would also advise you to have a website and social media pages to promote your business. You could also get references from former employers to show to your first clients before you have any testimonials or online reviews. Once you’ve been in business a while, as clients you are working with if they would mind writing a review.

 

Many people also advise you need a marketing plan and business plan. These are particularly important if you have investors, as they will want to see that you have ensured your business will grow year on year.

 

Let’s Go!

If you would like some business coaching to help you get started, please email hello@bexharper.com

 

 

person achieves their goal and celebrates on a mountain top!

How to determine your core values

Core Values?

Values drive our aims and goals in life. They help us to sort out what is important to us and where we need to direct our focus. Pick your top 5 values for living your life (and another 5 specifically for your business or career). See if, in your current situation, you are truly achieving the life you want with these values.

You can do this by writing down examples of how each of these 5 values appear in your life, at the moment. If they don’t feature in your life currently, write down one step you can take towards achieving this value in your life. The more values you are currently including in your life, the more true to yourself, your dreams and your moral compass you will be.

The aim is to get all 5! Our goals and values change, so it is useful to do this exercise every year.

Here is a list of key values:

Acceptance

Achievement

Acknowledgement

Adventure

Aesthetics

Appreciation

Authenticity

Balance

Beauty

Being active

Bliss

Caring

Career

Clarity

Comfort

Commitment

Compassion

Community

Co-operation

Confidence

Contentment

Courage

Creativity

Curiosity

Daring

Dedication

Detachment

Determination

Devotion

Diligence

Discipline

Discernment

Empathy

Empowerment

Energy

Enthusiasm

Excellence

Exciting

Fairness

Faith

Fame

Family

Financial independence

Flexibility

Forgiveness

Freedom

Friendship

Fun

Generosity

Gentleness

Goodwill

Grace

Gratitude

Growth

Happiness

Harmlessness

Harmony

Healing

Health

Honesty

Hope

Humility

Humour

Inclusiveness

Independence

Insight

Integrity

Influence

Intelligence

Intimacy

Introspection

Intellectual growth

Intuition

Joy

Justice

Kindness

Knowledge

Leadership

Learning

Love

Loyalty

Maturity

Money

Nurturing

Openness

Orderliness

Participation

Partnership

Passion

Patience

Peace

Performance

Prosperity

Purpose

Recognition

Relationships

Reliability

Respect

Responsibility

Reverence

Risk taking

Sacrifice

Serenity

Service

Sharing

Silence

Spontaneity

Strength

Status

Support

Success

Trust

Truth

Understanding

Unity

Christmas and New Year Closure

Bex Harper Tutoring and Coaching wishes you a Merry Christmas, a Happy New Year and a fantastic 2019! We will be closed on the following dates:

22nd December 2018 to 2nd January 2019 (inclusive)

If you need to contact us via text or email, you shall receive a response on 3rd January.