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Being Your Own Boss In a New World

October 31, 2021 83951

We are living in uncertain times. The fear of being laid off from work, enduring harsh pay cuts, and being forced to take a sabbatical from work have been anxiety-inducing thoughts for almost a year now. Not only are many of us nervous that 2020 has derailed our career prospects, several amongst us had to worry about how to provide for themselves and their families. All this stress, when coupled with the isolation of being stuck at home, spelled disaster. But it also opened up new doors of opportunities. You know what they say – When one door closes, another opens.

2020 made many of us realise that being their own boss is the best way to endure the storm. Of course, it’s a lot more responsibility. But who doesn’t love the idea of following their passion and making their dreams a reality?

Why Is Now A Great Time To Become Your Own Boss

With months of lockdown forced upon us, many of us reconnected with our old passions and hobbies. And with that, came the realisation that these could become lucrative career plans or business ideas. Today, the world is abuzz with start-ups, home businesses and freelancers. All these people have one thing in common – they came out of the challenging experiences of 2020 stronger and smarter, armed with renewed courage that their passions can also put money in the bank.

Additionally, almost all of us learned how to work with smaller teams, function remotely without compromising quality of work, enhance our communication and leadership skills while we worked from home, and develop excellent work-home balance skills too. Put all that together – and now is the perfect time to become the CEO of your own business enterprise.

Some Great Options For those Looking To Be Their Own Boss

Making the leap into entrepreneurship is a bold but redefining decision. And to be honest, in today’s world, you can sell almost any skill or service that could bring meaning, ease or value to any consumer’s life.

Some excellent options for those who want to work for themselves are:

  • Freelance writing
  • Website designing
  • Hot home-cooked meals delivery
  • Personal chef for home parties
  • Pet grooming and boarding
  • Yoga instructor
  • Life coach
  • Health and Fitness trainer
  • Toddler day-care

These are just some examples of how you can use your existing skills and passions, and turn them into a lucrative business idea without hefty initial investment. Additionally, you no longer have to fear about losing your job! In fact, soon you will be creating jobs for like-minded people who also desire a career that offers flexibility without compromising job-satisfaction.

5 Tips For Being Your Own Boss

With the right mindset, your dream career can turn into a flourishing business. If entrepreneurship is what charges you up, go for it now!

Here’s a quick guide on how to plan your life if you want to start your own enterprise - how to approach your business, save up for it, invest wisely and be secure with insurance that will keep your dependents safe even if something goes wrong.

#1 Build A Strong Foundation

Do your research well. Identify your core competence and spend time in understanding how your skills/services will add value to your customers’ lives. Study your competition and create a unique spin for your business. Create a security blanket for your loved ones – you are the one taking the plunge, they are the ones risking financial comfort too! Invest wisely in a plan like HDFC Life Click2Protect Life, a term plan that provides benefits as per your altering lifestyle and life stage needs and helps you stay truly protected.Once you have secured yourself, you can get ready to roll!

#2 Bring Your Passion To Your Job

It’s easy to follow your passion, but the real challenge is to bring your passion to your job every day. Remember, passion fades as businesses grow. Think of it like a new relationship – the excitement starts to wear off when you do the same thing day in and day out, every single day. How can you bring new passion to your job? By updating your skill-sets constantly to power your business and bring value to your customers.

#3 Focus On Client Satisfaction

And that brings us to point No. 3 – client satisfaction. This is KEY to any successful business. Understand your client, study their needs, and pay special attention to what they really say about you. There are several people out there who sell what you’re selling – so what sets you apart? Listen to your clients, be open to feedback and take criticism in your stride. It’s the only way to better yourself.

#4 Figure Our Your Finances

Before you can become your own boss, you have to get a clear understanding of your finances. Yes, many home business ideas do not require major funds. Yet, all business ideas – big or small, require you to become a pro at planning finances. Figure out how much money you need to support your home and your business and make sure that you plan your finances wisely. You don’t want to live with the stress of starting a fresh business and also struggling to make ends meet, right? With a plan like HDFC Life Sanchay Plus you can safely plan on how to start your business, how to scale it over time, and how to get the most profits possible.

#5 Invest Wisely

Believe it or not, smart investments are a crucial part of planning how to become your own boss. Yes, your new business can start making profits right away. But how and where you invest your profits to make your money grow is the key to financial freedom. As your investments accrue on the side, you can focus more on growing your business and take well-strategized risks, should you need to.

Here’s where a product like HDFC Life Click2Protect Life becomes a benefit. The three different options it offers provide life cover, an increasing critical illness cover at each policy anniversary or an option to receive a regular income once you turn 60.

Once you have covered your bases, go ahead and take the plunge into entrepreneurship. After all, you only live once!

HDFC Life Sanchay Plus (UIN:101N134V07) is a non-participating, non-linked savings insurance plan. Life Insurance Coverage is available in this product.

HDFC Life Click 2 Protect Life (UIN No.: 101N139V01) is a Non Linked, Non Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. Life Insurance Coverage is available in this product.

ARN: ED/03/21/23026

HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.

Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.

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