The 3 Things You Need To Master To Become Your Own Boss
The 3 Things You Need To Master To Become Your Own Boss
Working from home, setting your own hours, taking coffee breaks whenever you want? For many of us, being your own boss is the dream. But while the perks are as clear as day, you still need to get the basics right.
If you’re ready to ditch the 9-5 and successfully build your own business, it’s important you know what you’re doing. From time management and online security to wrapping your head around bookkeeping, here are the three things you to master when you become your own boss.
1. Essential internet security
You might be operating a small business, but that doesn’t mean you can hide from online security threats. If your data is hacked, the consequences can be both embarrassing and expensive. The truth is, with the increase of personal devices such as tablets and phones being used for business, it has become easier for hackers and malicious software to infiltrate your network.
That’s why managing your business firewall is so important. But while standard firewalls will monitor your incoming traffic and block malicious threats, they won’t take care of outgoing traffic that contains sensitive data. So what’s the solution? Your best option is to invest in a cloud-based firewall. Cloud-based services are constantly evolving, and the rate at which new threats are discovered and dealt with is extremely efficient.
Essentially, you need a firewall that not only monitors your IP and ports but all the applications you use too. When you’re becoming your own boss, getting hacked can significantly set you back, so make sure you invest in a modern security solution that properly protects you.
2. Bookkeeping
Sure, being your own boss is really exciting – but you have to take care of the not-so-exciting parts too. Importantly, you’ll need to set up a bookkeeping system. If you get this right from the get-go, you’ll be in a better position to analyse your business activities, attract new clients, get finance, and meet all your legal and tax obligations.
Don’t have a bookkeeping background? Don’t worry. If you need help, just get in touch with your accountant, a bookkeeper, or a business advisor to get things set up. From here, it’s simply about working with the right system and keeping on top of things.
You’ll need to decide whether a cash-based or accrual-based system works best for you, and if recording your finances manually, with accounting software, or using a cloud-based service is the way to go. Ultimately, it all depends on how your business operates, how much time you have, and how comfortable you feel working with technology.
3. Time management
When you’ve freed yourself from the shackles of the 9-5, you have more control over how you spend your time. However, this freedom can work against you if you haven’t mastered time management. Luckily, there are some simple ways to make sure you’re as productive as possible – even when you’re wearing pyjamas.
Firstly, it can help keeping a consistent schedule. The great thing is, you’ll have flexibility in choosing a schedule that works best for you. If you’re more alert in the morning, start at 8am and finish mid-afternoon. If you value sleeping in, start later and finish later – it’s up to you.
Either way, make sure you prioritise your most important tasks, divide your day into manageable blocks, learn to say no if you’re feeling overworked, and while it might be harder when you’re at home, try to keep clear of distractions.
