Self-employed shocks, and their solutions

Creator Nick Youngson

When you are self-employed, you’re free to embrace a working life that fits with your preferences.

You don’t have a boss breathing down your neck; there are no irritating office colleagues to have to handle – it’s just you, your choices, and your business future. All-in-all, self-employment is pretty darn great.

Except – there’s always an “except” isn’t there – there are a few issues that can derail even the most harmonious of self-employed lifestyles. Events in life, and in business, that can send your plans tumbling, and cause enough headaches for you to think the idea of returning to life under a boss sounds positively ideal. Many of the issues that self-employed people face are well considered and discussed; for example, you likely have plans in place that can be actioned if you fall unwell; most self-employed people know about the obvious potential pitfalls.

What about the less obvious ones though? Do you have plans in place if the following events occur?

Possibility: You’re called for jury service

Being called for jury service can happen to nearly anyone, at any time– but it’s a particular nightmare if you’re self-employed. There is no one to cover for you and there’s no financial help available. This is bad enough for the standard two weeks of jury duty waiting but could be even more serious if you are selected for a long trial.

You can appeal to the court and explain the problems that jury duty would cause you as a self-employed owner of a small business, but this may not make a difference. Ultimately, you will need an emergency fund that can be utilised to cover your expenses in this scenario.

Possibility: You suffer through a natural disaster

There’s no way of planning for natural disasters, which is why they have the potential to be so very destructive. You might suffer through a disaster that destroys your hometown – or never have to worry about the wrath of Mother Nature at all.

Ultimately, it’s your business insurance that will provide the protection you need to help recover from a natural disaster. Policies likes of can help ensure business continuity in the event of a natural disaster, so while it may be difficult to experience such an event, at least it won’t be the end of your business.

Possibility: A disgruntled customer leaves bad feedback online

Customer feedback is vital for a modern businessperson, but it has its drawbacks too. If an irate customer leaves a bad review on your Facebook page or a formal review site, then you have to have a contingency in place to help you cope with this. If you don’t, the damage to your business could be severe.

Often, the best way to combat this issue is through working on your online reputation in a positive sense; have a great guide that can help you manage this issue.

If you can plan for the above eventualities, you can be sure that you have covered all the bases. In the unlikely event that one of the above issues does occur, you’ll be glad you took the time to think through the scenario, as you’ll immediately know how to cope with it.