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Episode One

Yasmin Anne is an entrepreneur, wife, and mother.

Living life in the country and enjoying a slower pace, Yasmin is raising not only her children but her multiple businesses’ as well (alongside 7 beautiful chickens) 

Having created financial independence for herself, Yasmin’s passion lies in helping other women (especially mothers) do the same. 

Show notes

I want to preface this very first episode by saying you don’t HAVE to become self-employed! I know that literally goes against the title of this podcast, but not everyone has to take the leap into becoming a full-time, self-employed photographer. However, if this is something you’ve been thinking about, or is on the horizon for you then make sure you take the time to tune in! 

What’s the difference between self-employment and being employed?

One of the main differences between being self employed vs being employed is our mindset. There is just a different way of doing things when you are self-employed and that takes some getting used to. A few of the main differences are: 

• No ceiling but no floor – Your monthly financial minimum has been taken away, but so has your ceiling. You need to get comfortable with the idea that yes, there could be months you make £0, but there’s also the same chance there are months you can make £10,000. 

• No restriction on time, but no accountability – There is no one standing over you with a stopwatch, telling you when to work, when to take a break, and when to pack up for the day. If you’re like me and hate being told what to do, this is such a glorious feeling. HOWEVER if you are also like me and sometimes lack motivation, this can also be a danger as well. You will have to practice and form habits that allow you to become self-motivated and disciplined. Self-employed life often follows the rule: you get out what you put in. 
• No one else to take the fall, but also no one else to take the rewards – This one can be particularly scary, the realization that there is no manager above you to take the fall if something goes wrong. The flip side though: Is there’s no manager above you to receive praise, or the financial reward when you do an incredible job. 

How do I feel less nervous about becoming self-employed? The safety net: 

• What is a safety net? Well, it’s essentially the system you have put in place, in the unlikely scenario that you may fall. Think of abseiling off of a building (scary right?) now imagine there being a MASSIVE  net underneath you (is anyone else thinking about that one scene in Divergent?!?) it becomes a whole lot less scary. That’s what I mean when I talk about the safety net.
• The different safety nets – There are lots of different ways of creating a safety net, the most obvious one is financial. This can be done in a few ways. Regardless of how you do it, creating a financial safety net will really help to put you at ease when you take the leap. 

When should I make the leap into self-employment? 

The number one question is always: When do I quit my job and go full-time? Hopefully, these steps will help you decide when the right time is for you.

• Get familiar with your finances- Bring your money out into the light (metaphorically) you need to know what you are spending, what your monthly minimums are, and give yourself a realistic target to start replacing your previous income
• Make a business plan – write everything down in a business plan! Get it down on paper. Some important things to include would be a marketing plan, financial forecast, and market research
• Give yourself a deadline – Keep this deadline realistic, don’t just say ‘I’m going to quit my job tomorrow and figure it out’ but equally, don’t give yourself so much time that you put it off forever! 

Final Thoughts: 

If becoming self-employed is something you want to work towards, start by making a plan. I know it can be scary but trust yourself. Ask yourself why are you doing this? When you begin to doubt, remind yourself of that ‘why’ every time. 

Remember, others have done this, more people will continue to do it daily. It can be done, so why not you? 

Sponsor Link: 

Policy Bee

Resources Links: 

Link to government resources on financial aid for starting a small business: https://www.gov.uk/business-finance-support

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