The content for this post has been provided by Turbo.
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“In the wake of financial recession, and the rise of a globally connected digital society, it’s no surprise the freelance and small business economy is seeing a boom. Working for yourself is an attractive option because you only have to rely on yourself. You set your own schedule, work on projects that interest you, and make your own money.
However, that same self-sufficiency is also the main downside to going it alone. Work can be unpredictable, clients could be hard to come by at first, and you may end up working longer than you bargained for. Without a thorough grasp on your finances and a hefty emergency fund, you could find yourself out of money to continue.
That’s why it’s important to consider all the costs of starting your venture, in both money and time. You’ll need the basics like a website, office equipment, and an advertising budget, and you’ll also need to be prepared to devote a large amount of your life at first. However in the end, many small business owners and entrepreneurs feel that these trade-offs are worth it. You may have to give up an expensive coffee habit, or skip out on a few restaurants with friends, but at the end of the day, you can take pride in knowing you work for yourself.
For more on the costs of chasing your business dreams, check out this infographic by Turbo:
Oliver* 