Starting your own business (a dummy’s guide)

Photograph: Christopher O’Donnell.

1. It doesn’t necessarily happen overnight.

Be patient. I set up as a sole trader over 7 years ago now (alongside my full-time job). I used to think setting up a business meant writing a business plan, securing a loan etc but I have chosen to do it in my own time, when it’s right for me. I waited to move forward each step only when I could afford to, and chose to grow slowly rather than hit the ground running. It’s not for everyone but it has been a successful journey for me.

2. Learn to rely on others.

My business didn’t truly flourish until I employed other people. There comes a point when sometimes you can’t manage it all yourself – I now work with talented photographers and videographers, I trust their edits, I have an agent who helps me with strategy and contracts and an office manager who is the font of all knowledge (both business and personal!). These people helping me means I can get on with my daily tasks and feel less stressed in the knowledge that the other stuff is being taken care of.

3. Remember why you’re doing it.

Or perhaps, what motivates you. I remember reading this post by Sara at Me & Orla and it really resonated with me. For some people, money motivates them, for others success, for me I knew it was stability. Now we are settled in our house with manageable mortgage payments, my husband and I are after a stable, regular salary and a separation from work and life. This is the basis of most decisions I make for my business: do I have to take this on? Will I/my business benefit from it? It the answer is not really, I don’t do it.

4. Be wary of hidden costs.

Sorry, this is supposed to be a positive post but I’d be lying if I didn’t mention these! And it’s a reality you have to address when working for yourself. I found out the hard way through Maternity Allowance – I’ve been saving for the past 6 months but still have saved barely enough to pay myself to take 2 months off. And although entitled to government Maternity Allowance, those payments don’t even cover my mortgage and to claim it, I wouldn’t be allowed to work as well. So again, we’re learning to compromise and figuring out how to muddle through a bit of a shared parental leave – and again, the downside of freelance is always outweighed, for me, with the pros of being able to take time off when I can to look after our baby. Other things to consider are VAT returns (if applicable, and if not, you end up paying a lot of VAT on things like office spaces etc, which add up if you can’t claim it back), business council tax (yes, if you rent a space you have to pay another set of these), internet (unfortunately I was tied into a overly expensive internet provider supported by my office – it’s double the price of what I pay at home for half the speed) and bank account fees (don’t expect, like me, for banks to fall over themselves for your business – you’re legally obliged to set up a business bank account with fees once you set up as a business, so you’re pretty much locked in!).

I’m not saying it’s all bad….I’m more saying ‘do your research’ – especially with affordability. Always understand what you’re letting yourself in for, and never be afraid to ask questions – even if they seem obvious/stupid.

Naomi Mdudu, from The Lifestyle Edit offers start-up support for women (a career that has led her to New York, evolving from her journalist roots in London). We actually recorded a podcast together, all about how I started out in the industry and where I see the future of my site. You can listen to it here).

Sarah Deane launched her candle brand, Evermore London, in 2015. You can follow her beautiful Instagram feed here.

Frances Cookson and Katie Arnott, founders of Rewritten – cool dresses for cool Bridesmaids

Holly Anna Scarsella, set up resortwear label Pampelone in 2015. Stocked online and in major retailers now worldwide, and you can follow the brand’s wanderlust feed on Instagram here.

Chiara Perano-Sotnyk, set up her own brand of limited edition prints and Art at Ciao Chiara. You can follow on Instagram here.

And lastly, a few websites/creative newsletters worth signing up to:

Jocelyn Glei – I love her newsletter and podcasts, on simple things from how to say no to how to combat email anxiety.

The Step Up Club  – Alice helps with making career and business advice accessible to more women, she’s a guru on most things like how to grow your business, or how to ask for a payrise and works on loads of events to help build confidence in your career.

Vestpod – I have been to one to Emilie’s talks and they are so inspiring, because financial understanding and freedom is, of course, key to starting a business.