Last Updated on 2 years by Anoob P
Today I completed 4 months of not having a full time job, not having the comfort of a paycheck and just working for myself.
Although I’ve made much lesser money compared to my previous full-time salary, I think this is a lifestyle of working for myself is something I can get used to.
If you have had a job all through your adult life, then I urge you to consider starting an online business and working for yourself.
Few years back I had attended a network marketing event because one of my friends forced me to.
Throughout the event, the core messaging was that:
- Everyone who works in a job is a loser
- You have to own a business
- Be your own boss
- Don’t work for targets
- If you don’t make plans, someone else will make plans for you
While all of this sounds fancy and entrepreneurial -sometimes you just have to work for someone else-that’s the hard truth.
You have commitments, you need money and you need the security of a job.
But still, I think its not a bad idea to give an online business a shot and try to make some money online.
In my experience, timing is everything.
Once I asked my boss who was a Silicon Valley veteran, “How come so many good start-ups struggle to raise funding and many start-ups who have neither a good product, nor a good team raise so much capital?”
He put it in simple words, “Dude, its about being at the right place at the right time.”
Sometimes, when you time is not right, things just don’t click.
And sometimes when you time is right, things just fall into place.
If things are not working out for you, all you can do is keep pushing forward.
I think that is a good advice.
Even if your online business fails or you hardly made any profit in 1 or 2 years, you should still give it a shot.
By online business, I do not mean a fancy website or app, something as simple as a starting a blog or even a YouTube channel is an online business. You can even make money from Facebook with some effort.
I recently helped a client of mine generate $1000 in income from his YouTube channel that was not making any money and even you can do the same.
Earlier, I had co-founded a video company and raised $2 million in funding and then got fired from the company I started. I had done lot of testing and research on how to monetize YouTube and now I use the same skills to help other YouTubers.
You can read my full story here if you are interested.
I have also written a detailed post about How to Start an Online Business That Changes Your Life (without Luck) & lessons in entrepreneurship I learnt the hard way–you can read it if you have the time.
Sometimes, things can click very fast and you never know, it can literally change your life.
This website hardly makes enough money to cover my costs, but I will keep it running for years to come.
Because, this will be my long term project.
I will dabble my hands in several projects and one of them will take off, its just a matter of trying and maintaining consistency.
When I first started working as a content writer, I got a freelance client who ran a very small agency based in a house.
He told me, “Your work is impressive, come to me every evening and I will teach you blogging and how to make money from blogging”.
I was 23 at the time, and all I told him, “That’s okay, you can just pay me for my writing services.”
This was 10 years ago.
Imagine if I had taken up that offer and started blogging back then.
I think I would have made good money and be even working on the blog full time.
But at 23, all I knew was that to make money I had to work for someone else and I did it.
I think it sort of comes from a middle-class upbringing that it is a safe option to take a job and somewhere things will work out.
After working 12 years for numerous companies, I think I have been successful at working for others.
I started as a writer and my last job was Head of Digital Marketing with a company of over 300 employees.
Not bad for a guy who started as a content writer right?
In all my 12 years, I have never found a job that I could call a “Dream Job”
I’ve always wanted something more, and working on personal projects is deeply satisfying for me.
Currently I’m handling digital marketing for 3 clients
1. An organic farming company- that has not paid me since last 3 months.
2. A YouTube channel that is showing phenomenal growth since I took over their marketing.
3. A Canadian company on the likes of OLX that I am trying to get more sellers for.
I’ve taken advance payment from all 3 clients and except client No.1, other work is progressing pretty well.
When a client doesn’t pay you, you lose the motivation to work for them.
In the last three months, this is what I have done for them.
For a spend of INR 77,103, they have received orders worth INR 363,326.
These are the spends for the same time.
Still when it comes to payment, I had to ask the CEO 11 times in the last 20 days (No, I am not making this up) and he as just paid me 1/10th of the agreed amount.
Its been 4 months I have been working for them and he says that he will release payment in parts because he is strapped for cash.
May be it is true that he really has no cash, but that should not be the excuse to delay payment by 4 months.
After completing 4 months of working for different clients full time, these are some tips I can give for someone just starting out.
Tips for Anyone who is thinking of Working for Yourself
Don’t work without advance
I’ve noticed that Indian clients don’t like paying. They will delay payment as much as possible and once work is done, you are at their mercy.
Don’t start working without advance if your client is not agreeing for 50% advance, just skip the project. You will save lot of headache.
Note: Before you call me judgemental, this is my personal opinion, most of my Indian clients have delayed payment and that’s a fact. Only 2 out of 10 clients are good to work with.
My YouTube client deposited advance in my account and then asked me to start working- that’s called professionalism.
This is the results I’ve been able to show for the client.
Pick your clients wisely
Understand the business of your client and check their background. If you see poor reviews and their business is shady, walk away.
Don’t take any bullshit
For outsourced work, generally internal teams of companies wont like you.
This is because most of them put in lot of time and effort to suck up to their bosses and when the management still hires a consultant for the job, they naturally do not like you.
But don’t take any bullshit.
You can’t please every one you work with.
Don’t pressurize yourself
The reason why I left my job is to work as per my timings and projects that interest me. Don’t make the mistake of pressurizing yourself for your client. Don’t make your client your new boss.
Clients will keep pushing you and pressuring you with constant requests for update, just be very clear that you will not be working like an employee.
Don’t Completely Rely on Clients
If you are under financial stress, look for a full time job. Freelancing or consulting is riskier and if you really need a stable income, I will not recommend this path.
Invest in a good Internet and laptop
A slow internet and laptop can cost you frustration, lot of time and effort. Invest in a good laptop and Internet- it will pay itself over many times.
A fast laptop can save you lot of time in completing a task and I’m glad I bought my high-end laptop just before quitting my full time job.
If you want to get started with an online business, I can help you. Just send me a message using the chat at the bottom right corner and I will send you an email.
Also, I’m planning to let go of my first client, so if you know anyone who needs some help with digital marketing, do let me know.
If you like this post, please share it with anyone whom you think will find it useful.
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Working for Myself
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Working for Myself
No office politics
Less money when you start out