Starting your own business can be a great career path for Millennials. Instead of competing for traditional jobs, you can build a business with various clients and projects. Working independently offers flexibility, personal freedom, a good income, and a rewarding career.
Millennials have overtaken Baby Boomers as the largest age group in the country, making up 34% of full-time independents. From 2020 to 2022, the number of independent workers grew by 69%, and full-time independents increased by 59%, rising from 13.6 million in 2020 to 21.6 million in 2022.
If you’re a Millennial aiming to work independently, follow these five tips to kickstart your solo career.
1. Write a Basic Business Plan
Depending on your business type, you may not need a detailed, formal plan, but every independent professional needs a clear strategy to make money. Your business plan should answer these questions:
– What services do I offer? Focus on your strongest skills rather than trying to do everything.
– Who is my target market?
– What is my competitive advantage?
– What rate do I need to charge to be profitable?
2. Find Your Expertise
While you can learn many things, don’t try to do everything. As an independent worker, having a defined, marketable expertise is essential. This helps you build a strong brand and target your efforts towards a specific audience instead of a broad market.
3. Maximize Your Network
Building a strong network of friends, family, and other independent workers is crucial when starting out. Your network can provide leads, support, and feedback on your ideas. Invest time in creating meaningful connections and explore both online and offline networking opportunities. Online consulting job marketplaces are excellent platforms to showcase your skills to many potential clients.
4. Build Your Brand and Reputation
Be generous with your time and expertise. Offer to speak at local business groups and share your knowledge. Volunteer and stay active in your community. Engage with influential people in your industry on social media without feeling intimidated by your age or experience.
Everything you do to promote yourself and expand your network is vital for marketing your solo business. Each small project can lead to larger and more profitable opportunities.
5. Market Your Business Every Day
One of the most crucial tasks as an independent worker is marketing your services. To keep your business thriving, you need a steady flow of opportunities. Start by reaching out to your inner circle of friends, family, and former classmates or colleagues. Pitch your services and ask if they know anyone who might need your help.
Once you get your first clients, ask them for referrals or if they need help with bigger projects. Repeat business and referrals are the backbone of a successful independent career. Eventually, instead of searching for new clients, more clients will come looking for you.
