Entrepreneurs are eager to get their idea off the ground. However, they cannot simply leave financial stability for the sake of uncertainty. They need to take calculated risks to ensure that they have a better chance of being successful, no matter the venture. This is because luck also plays a role in the outcome of any decision made. Weighing the options before you take the leap can put you in a more significant position since you have prepared for contingencies.
A promising step toward being your own employer is to have a source of income when you leave your job. If you do not have enough saved for your buffer fund but want to resign as soon as possible, you could consider working as a freelancer.
You will have the opportunity to work as much as you would like to earn while learning the ropes of networking as a potential business person. In fact, there are freelance jobs that people can turn into profitable ventures. Here are some options you can consider if you plan on making the transition:
Bailsman
You can make your money work for you as a bailsman for accused individuals who cannot make their bail. It is similar to lending money, except your fee is a percentage of the total bail amount. The value of the bail that you covered will be returned to you once the person shows up to their trial. To enter this field, you need to learn how to become a bondsman and get a license.
Like law, accounting, and real estate firms, you can convert your freelance work as a bailsman into a good enterprise. It is a venture that is on an on-the-need basis, and you can become the primary contact for lawyers who need their clients to be released as soon as possible. Formalizing this endeavor can lead other companies to believe that your business can be a reliable partner.
Furthermore, this line of work is flexible enough for you to clock in at any time of the day or night. Since you will have the liberty of deciding when and where to work, you will also be free to work on the details of your upcoming business. With little effort, you can become your own boss in no time.
Delivery
As delivery services become a more prominent figure in the economy, it is reasonable to consider it a promising venture. Although drones may be the future, taking them up as a temporary source of income can be profitable, especially during a pandemic. No matter which kind of business you deliver for, there will always be a customer who wants the convenience of their shopping at their door.
You can deliver from one business to another or from a business to a client. Either way, the main component you need will be a vehicle to take you from point A to point B. It can be your car, a motorcycle, a bicycle, or even a truck that you rent or buy. To lower your margins, make sure that they are fuel-efficient, allowing you to get more mileage on the buck.
This type of freelance work is easy to get into since established companies can provide you the infrastructure to find clients. By doing so, you will learn how these existing competitors function. You can use this information to kickstart your own business by adopting or improving upon their current practices. On the other hand, if you already know of a market gap that you can fill on your own, you can work independently.
Consultancy
Experienced employees who are entering the freelance field might be best suited to becoming consultants instead. Their expertise will be hard to come by, supported by the high fees companies are willing to pay for such a service.
Depending on your specialization, you will benefit from an identified market gap that can only be fulfilled by your specific skillset and knowledge. You can transform this into a company as your clientele grows in number, indicating a need to expand your operation. The challenge here is replicating your specialization in another candidate if it is too specific a service.
It may be daunting to leave your job for the uncertain title of a freelancer. But this step can push you to realize your qualities as an entrepreneur. As long as the risk you take during the transition is calculated with a backup plan, you can move towards your goal of starting your own venture. Before doing so, know the steps you need to take.
