Lots have happened since my last post. I am happy to announce that I've opted for voluntary redundancy at the office and now am on my way to become self-employed! Some might say I'm crazy to leave employment, but I think all the self-employment research and planning I've been doing has given me confidence.
I avoided making a leap of faith that would most likely end in a financial disaster - opening a cupcake cafe in my area. Luckily spoke to some shop owners who gave me insight to the spending patterns in the area - never underestimate the knowledge of local business owners. I'm still pursuing the idea, but this time I'm testing the market first by wholeselling to cafes and delis.
This experience has thought me that I've much to learn about running a business and making self-employment economically viable and sustainable. I first started thinking about self-employment 3 months ago and I don't have anything tangible to show for it but I've learnt lots through research. Someone said that with learning and experience, you learn to preempt mistakes without actually making them.
Fortunately, in a timely fashion, a friend of mine has asked me if I would like to take on managing a private home extension job. I'm starting to think that I might need to find some sort of part time employment to support myself while I grow my cake business idea and my own architectural practice. This should keep my savings for a future business investment.
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