There are many reasons why a business might fail and keeping them in mind can help you to make the right decisions. For instance, when you’re creating your business, you’ll want to have a USP – or unique selling point; there are countless businesses out there, and many more are set up every year, so you need to stand out from the competition, especially if you’re new to the game. If you don’t do this, then clients won’t know to choose you over other similar businesses. So, take time to figure out what you can offer to clients and what makes your business different. This could be anything from better rates to a particular skill that not many companies offer. Lack of flexibility is another issue. When you become self-employed, things are not as clear cut as when you’re in full time employment. It takes some adjusting and you may make some errors as well – being able to adapt to your new situation is crucial, so that you can continue growing as a business and offer clients what they’re looking for. Other people don’t have the patience to carry on freelancing or contracting when the success they were looking for didn’t happen immediately. Being successful can take months and years, which means you need to be determined and not give up even when you feel like it. You’ll get rejected from gigs and will have to learn to deal with that and not let it get to you. It takes time to build a company or a sole trader business so, if you really want to be your own boss, you may want to keep at it until you’re happy with the results.