Plan your personal goals, create your dream job

Planning your personal development is among the biggest rewards of starting a business as an independent owner. Now you have the chance to move from being an employee directed by an employer to being the director of your future, setting your personal goals as career objectives.

One of the most rewarding areas of running your own business is the freedom shape your personal development the way you like. Typical career paths and constrained resources for training are things from your past. Now you can choose the areas of improvement and invest wisely to further your own objectives.

Invest in your personal goals

Courses relating to your business and its growth are a legitimate business expense and reduce your tax liabilities. You reduce your tax bill while you expand your skills and knowledge – and you control the spending. When you start life as a contractor or consultant there are a few key areas you should look at to continue your development in conjunction with the better-known training routes.

Membership of professional bodies

Broaden your networking opportunities and gain access to knowledge-sharing resources at reduced rates. It’s usually a tax-deductible business expense.

Subscriptions and books

Keep up to date with industry developments and maximise down-time between meetings and journeys. The cost of your favourite industry magazines is most likely a legitimate business expense.

Government-run courses 

Keep on top of legislative changes around running your own business. HMRC, DTI and other governing bodies offer free courses to business owners to promote efficiency and compliance to their rules.

Trade-specific and personal development courses

Ensure that you retain your level of aptitude in all areas if you are to remain competitive.

Networking with peers and mentors

Tap into your network of contacts. Foster close relationship with a mentor and other successful peers to benefit from their knowledge and test your ideas.

Your choice of contracts

Take on new opportunity that fit with your personal development goals – work with new technologies, a different cultural dynamic, a growing business area or other new experience. This is often the key to keeping your skills and knowledge fresh.

Map out your personal development plan

Your personal development plan is a map of where you want to take your knowledge and understanding.

1. Note down weaker areas and where you need to develop your skills and knowledge.
2. Identify opportunities to develop these areas
3. Map out how and when you are going to develop yourself.
4. Review the plan regularly and amend it accordingly.
5. Plan your investment and claim your business expenses.

Create your living document

Writing down your goal on paper will help you commit to achieving them in due course. You don’t have to start from scratch – just take a pen and print out this template and fill out the gaps – we’ve outlined most of the steps to your successful professional development as a contractor or consultant.