10 lessons I learned after 4 years of self-employment in Switzerland
Starting my journey of self-employment in Switzerland as an expat and immigrant was the biggest decision I made in my 30s.
I came to Switzerland as an expat for a corporate job. And I stayed with that company for over 8 years.
I was not planning to quit my corporate job so early.
But working all evenings and weekends on top of demanding full time job, was becoming a challenge.
I was hoping to work part time but this option was not available to me back then.I also had a big ego and was not willing to accept jobs that were “below my level”. I don’t think like that anymore!
So after lots of contemplation, sleepless nights and financial calculations for all kinds of worst case scenarios I found the courage to quit and start my journey of self-employment.
If you want to learn more about the practical aspects of self -employment in Switzerland have a look at this blog post:
.“How To Become Self-employed In Switzerland : Business Resources For Women Entrepreneurs
Self-employment is a personal development journey
It was a journey of reinventing myself and coming out with a new identity all over again.
People I have worked with had seen a different side of me: the conforming, nice and cooperative team player.
My rebellious act of quitting all of this was not acceptable to many who knew me.
But putting up with the criticism was the least of my priorities!
My self-employment journey has been the most challenging and rewarding journey of mylife.
I went through lots of pain and lots of joy and learned so much. I would do it all over again!
On the anniversary of both my businesses I have decided to share some of the lessons I have learned along this journey.
Believe in yourself to thrive in self-employment
If you can’t believe in yourself and your business don’t expect others to do so.
If you don’t believe in your ability to grow this business then explore why.
Your lack of confidence in your product and mission will reflect in your business and your communication. It becomes almost uncomfortable for customers to buy even when they like your products.You might get a few “pity buys” from those kind people who want to support tiny independent businesses but this won’t get you far!
Lack of confidence in your business will also lead to hiring and investment challenges.
It’s hard to make any long term decisions and think of return on investments when you don’t trust something to work in the long term.
Each and every human being is born with unique resources and abilities to do something great in this world. Some people never learn about their unique talents and abilities. Many are convinced that something is structurally wrong with them: They see themselves as defects and see no hope in getting far in life.Well this is absolute nonsense!
Build and grow a committed audience before creating a product or service
You might think it’s all about creating a product or service and presenting it publicly and then the customers will show up magically. Well, it used to be like that twenty years ago but we are living in a different time.
The barriers of entry are low and everyone can easily start a business:
The market is crowded.
Even if you have the most brilliant idea it’s not worth anything if you can’t communicate it to others.
The audience needs time to get to know you, like you and trust you.
This doesn’t happen overnight.As Seth Godin says, build your tribe!
Create a community that shares a common interest : ask for their feedback and build meaningful connections.
Don’t launch a product out of the blue and pray for a miracle! It’s very stressful to run a business you have no control over.
Your business is not exactly your baby
There are some similarities between parenting a baby and starting a business: both need a lot of time to grow!
Both will go through good times and bad times.
But while you would be attached to your baby emotionally , you might want to make sure you don’t attach too much emotion towards a business.
A business is a separate entity that you create and grow but being too much attached to it emotionally might get in the way of building assets and hiring support.
Being too attached to an idea makes it difficult to receive feedback and make the necessary adjustments to make it right for its customers.
Set clear boundaries
Self-employement takes time and if you choose to say yes to everyone, answer every email and be present at every event mindlessly you will soon struggle to find time to focus on what really matters in your business.
Be intentional about how you spend your time and with whom.
It might be uncomfortable to “announce” new boundaries to your friends, family or other connections who are used to your old boundaries but better late than never.
I grew up being told I have to be kind to everyone and help anyone in need if I can. I used to get contacted on daily basis to look at this friend’s business plan, that old customer’s resume , this family member’s business idea on weekly or even daily basis. Everyone wanted to “pick my brain” over coffee about some business or leadership challenge. I even translated a book for a friend!
Although it felt good to help I noticed I am developing resentment around offering free help. I wasn’t sure if the value of my free work is being appreciated.
All of these free support was happening after a long day of work.
Compromising on my selfceare, sleep, time with my husband and rest to help these people didn’t feel good. I wasn’t even aware! When I realised what I was doing to myself I quit.
Something else I had to quit was giving quick answer to every request that came my way: prioritising other people’s urgency over my own schedule and timeline. And this gets crazy when you deal with impulsive people who want an answer NOW!
I have now learned to ignore other people’s impulses and only prioritise them if something is seriously urgent.
If you find it hard to say no to others out of the fear of losing or disappointing them you might have some hidden people pleasing traits. A topic that is worth exploring with a coach or therapist as it’s often deeply rooted in childhood.
Energy goes where your focus goes so don’t spread your energy thin
You might start your business with hundreds of ideas about different products and projects.When I started I had a large collection of jewellery items and at least 10 different designs in my first scarf collection.
You don’t need to bring all of those ideas together all at the same time! Managing all of these products without the right foundation was crazy.
Multitasking is a weakness and not a superpower!
Instead of taking over many projects all at the same time prioritise and focus on the one that matters most and brings the most results. Which one is better? 20 unfinished projects with little result or 2 finished projects with clear outcomes?
Also be mindful of what’s occupying your headspace:
Are you constantly worried about what others think of you?
Or spend all your time scrolling on instagram comparing yourself to others and feeling bad about yourself?
Or you are constantly thinking about how things can go badly wrong and you end up failing badly?
Then be careful! because your focus on these pointless negative thoughts will drain your energy
Address your fears of self-employment & entrepreneurship
Instead of spending days and nights in misery thinking negative thoughts, address them professionally:talk to an expert: a coach, advisor, therapist or mentor.
What is the real source of your fear? have you been intimidated by all the legal stuff?
or are you comparing your early stage business idea with some successful startup out there?
Are you overwhelmed by everything that needs to be done to start a business?
Well all of these issues have very simple solutions!
Find a professional who can offer you a safe space to explore your fears and worries on a deep level.
Our deepest fears are often where the best opportunities for growth are hidden.
Embrace them and explore them. You might find some treasures! Fear is a function necessary for survival. Tara Mohr in her book playing big talks about different types of fears. Some are there to protect you from real dangers and some to protect you from “imaginary” dangers.
Build assets and grow them
When I started my self-employment journey all my energy was focused on making short term sales.
I wasn’t focused on building business assets and increasing my business valuation. I only became aware of this issue when I decided to sell my fashion business.
My numbers were all over the place and it was very difficult to explain the value of that business to a potential buyers. While I eventually found a creative solution to pivot from that business. I regret not paying attention to this topic earlier.
I also did not know much about growing an email list or a method of keeping track of my audience.I wasted a lot of time and energy on growing my social media. While it helped my visibility to some extent, it didn’t give me much control over my audience.
..by the way I teach about these in detail in my digital course : Thriving Boutique
It took me a year to realize how important an email list is. You don’t own social media, you can get blocked and kicked out, but you own your email list.
When you grow your email list, your website visitors and customers you are growing your business assets and increasing your business valuation.
Your skills are almost like personal assets: You’re the most precious human resource your business and your career has. Invest in yourself, master a skill, be known in your field. Starting a business does not mean you stop your career. You need to constantly grow your own personal brand and leadership in your field.
That is why successful entrepreneurs never stop learning!
Invest in a real support network
Self-employment can be a lonely journey.
When I started my own business I was the only entrepreneur among my friends.
No one really understood my challenges and It was hard to describe what I was going through. I was also getting way too much unsolicited advice from people which I often regrettably took!
While I loved my friends ( and still do!) I noticed I needed to create my own support network.
SoI started to join different memberships like female entrepreneurs associations and explore local groups such as professional women’s group Zürich.
Additionally I invested in coaches and mentors who could give me guidance on my challenges. Getting support is not always free : keep an open mind about investing in the right form of support.
The power of meaningful networking
Sometimes these investments are as simple as hiring help for cleaning your home or purchasing systems that automate your business processes.
Who you spend your time with matters: Make sure you are not the smartest person in the room! It’s ok to retire yourself from some circles and move on to groups that can be beneficial to you.
Early on in my business I was part of groups with lots of new entrepreneurs in the early stages of their business. There came a point that I noticed I don’t share the same challenges as others.
I had other concerns, other issues and other questions so I had to write a few polite emails, thank those circles for their services and quit those memberships and move on to different ones!
Prioritise self care and rest
The hustle culture encourages hard work and compromise on self care and sleep. I come from this culture and have done a lot of damage to my body thinking in this way.
Selfcare does not come to me naturally! I even used to feel guilty when I did something for myself only. I grew up in a high performing environment: The schools I went was difficult to get in and “hard work” to get “perfect results” and “high performance” was expected.
The harder the work the better! This is how I grew up. No-one was teaching us about self-care!That was something for the lazy ones.I had to do a lot of inner work to unlearn these concepts. Now I am constantly looking into ways of bringing more ease into my life.
Forget about all those inspirational quotes about hard work
I wasn’t paying much attention to these things early on in my business: I always had backache and shoulder pain. My eyesight was getting really bad and I was tired most of the time.
When you don’t rest, you can’t think creatively and make empowered decisions. You can’t function properly as a human if you don’t respect your nervous system.High levels of stress will increase the amount of cortisol hormone which leads to all kinds of serious illnesses and chronic issues.
You are the most important asset of your business and need to take care of yourself. When you rest enough and take care of your health you get sick less frequently.
Schedule rest time after a big project: create non-negotiable time and budget for your self care.
If you don’t feel well and need to rest, don’t feel guilty! Take time off. You are the most important asset of your business and need to protect yourself
Work out your money issues
Your mindset and approach around money has a direct impact on your income.
If you have any negative associations around creating or receiving money, explore them with a coach or educate yourself around them.
Get comfortable with the topic of money and finances. Learn about investing and managing your wealth. Understand your finances and create a plan.
Some entrepreneurs put all their life savings and pension money in their businesses because they strongly believe in themselves and their mission.
I personally don’t recommend this and can’t imagine a life without financial security.
Taking risks does not equal behaving like a drunk gambler.
Lack of financial security can lead to fear-based decision making: You might end up compromising long term growth for short term wins.
You might have heard of Maslow’s hierarchy of needs: It’s very difficult to make empowered decisions when your basic needs are endangered. Make sure you have enough money to take care of your basic needs.
I made a number of regrettable investment decisions early on in my journey of self-employment in Switzerland.
One of the best decisions I made to create more financial freedom in my life was hiring financial advisors and joining a mentoring program around investment in a way that is aligned with my values.
These days there are so many amazing money and investment coaches that can support you in this journey.
I was specifically on the lookout for an investment expert in Switzerland as I always found the advice from non-Swiss experts difficult to apply.
I can totally recommend my own trusted mentor Aysha van de Paer, who specifically works with EU,CH ,UK based investors with all kinds of budgets and is very familiar with the complications of expat’s lives.
Aysha is an advocate of gender equality and sustainable investing. So if like me, these topics are close to your heart then check Aysha’s mini course. (The links mentions here affiliate links)
I also created budgets for different activities and cleaned up my accounting and bookkeeping.
The more you educate yourself around managing and growing wealth the easier you can develop a growth mindset around money.
I learned these 10 lessons the hard way!I hope they are useful to you.
Are you planning to launch your own business and don’t know how to do it in a sustainable way?
Then get in touch let’s have a chat!
