12 things you need to know before setting up your own business with a chronic illness

Today is a guest post from freelance expert Kirsty Hulse! She has been running ManyMinds Digital for several years now and has taken her knowledge of SEO to the masses, delivering keynote speeches at conferences across the globe. Her agency runs on a freelancer model, something that she believes creates a valuable product for her clients as well as a flexible working environment for her team. In her book The Future is Freelance, she talks about the highs and lows of starting her own business with a warts and all account of what she learned in her first year.

As a freelancer myself I’m always on the lookout for people who have been there, done that, and made mistakes so I don’t have to. Luckily, Kirsty is really honest about her experiences and was willing to share a few things she wishes she’d known about starting her own business.

I’ve also included some bonus tips at the end from people who work from home and manage a chronic illness to find out what they wish they’d known before they went it alone. But first, here’s Kirsty:

1. It’s always difficult

People say about how difficult it is in the beginning, but no one tells you how perpetually difficult it is as time goes on. I know a lot of business owners who are five years in and we all agree that the pressure says the same, you just learn to trust yourself. You sort of recalibrate yourself to deal with the stress.

2. Decision-making will get easier

“At first you feel you won’t be able to get off the ground and that it won’t work. Then when it does work you get this panicked feeling that maybe you shouldn’t really be doing this. It starts difficult and it stays difficult, but you learn along the way and your ability to make well-informed decisions increases dramatically. You will grow in confidence for sure”

3. Set aside money for your tax bill

Loads of people forget to pay tax. It sounds daft because it’s so obvious but when you’re stressed you can de-prioritise certain things. You have this period in the beginning when there’s not much going on and then all of a sudden you get hit with a tax bill. One day that bill will come, so start setting the money aside from day one.

It’s OK to charge less when you’re starting out

I think at first it’s common — and not an unreasonable strategy — to low-ball a bit. I certainly did and I think when you’re building clients you can get access to people you may not have otherwise by simply being a bit cheaper than the competition. That’s a great plan but only as a short term strategy. I did that in the beginning because I was new and I thought I might make mistakes but once you have a persistent level of revenue then you have to charge more”

5. Try not to work for free

I don’t think that anyone should work for free, but I do I think you can work for a small amount or even trade skills with someone in the beginning. For example, you could write for a law firm in exchange for some legal advice. But I think you should always charge a little, even just for the perception of those people that you’re working for. Once you work for free it’s unlikely they’ll ever pay you because you’ve devalued your offering from the get-go.

Tips from chronic illness bloggers and freelancers:

6. Have multiple income streams, Eleanor Segall (@EleanorSegall)

“If you’re a writer like me, also run social media accounts/do editing/proofreading to bring in the money. Being a freelance writer means no guaranteed income and lots of pitching article ideas.”

7. Take advice with a pinch of salt by Sarah Louise (@slk_writes)

“As tempting as it might be to take as much as you can, remember to look after yourself and be realistic with yourself about what you can achieve. A lot of blogs on coping with being self-employed are targeted at people who aren’t unwell, trust your own intuition”

8. Learn to delegate by Carol Rennard (@CarolArthu)

“Outsource or delegate if you don’t have time or skills. Paying for decent accountant or admin support can be worth it. Plan your diary. I try not to have two consecutive days of meetings because it’s too exhausting. I diary personal commitments too”

9. Take a rest day by Kate Orson (@kateorson)

“Take a rest day, avoid caffeine (for chronic fatigue). I work best when I rest when I, tired rather than push it and overexert myself. I always feel more energy after a day resting. Also work lying down!”

10. Set realistic goals by Lauren Aitken (@L_Aitken)

“Get a calendar and desk planner and plot small, attainable goals. Reward yourself for work, take on work if you feel extra creative or focused but also remember you have the power to say no, ask for help or even to cancel working on something. It doesn’t make you a failure”

11. Set boundaries by Francesca Baker (@andsoshethinks)

“Be strict with boundaries. If you need to eat lunch at 12.30, don’t book a meeting. If you can’t get somewhere for 8am, say so. If you can only do 4 days, you can only do 4 days. Self-care is crucial”

12. Get your financials in order by Paige Joanna

“Being money savvy is essential when working as a freelancer, so adding a chronic condition into the mix can make it more complicated during rough patches. As long as you pre-plan financially, have a rainy-day fund or make cutbacks whilst having to take time off, then financially it should be easy to manage”