Are you up with the lark, or still lounging in bed watching trashy talk shows at lunchtime every day? GlobeRoom looks at the skills required to make a success of going solo.

Self-employment is an option, which has become increasingly attractive in recent times, particularly because of developments in information and communications technology. It's little wonder then that in this entrepreneurial era, the number of people running their own business has doubled in the last 20 years.

Activities such as booking services, accounting, research and consultancy are becoming ever more popular for the self-starter - set yourself up with a computer, modem, telephone and Internet connection, identify your market niche, and you're in business.

What holds many people back from the self-employment option is concern about whether they have the range of skills required to run a business single-handedly. But it's abilities like problem solving, taking the initiative and creating a rapport with clients that provide the foundation for a successful small business. So while these might be rusty, you have probably already developed these skills through previous employment.

Business skills required:

• Communication and inter-personal skills
• Problem-solving
• Computer literacy
• Adaptability and flexibility
• Initiative
• Organisation and time management
• Good self-starter and prepared to get up early or stay up late to get the job done.

Also required are skills, which relate to the business itself. You need to be able to provide high quality work in your chosen field, whatever it may be. In addition, your success will depend upon your abilities in:

• Market research
• Promoting and marketing your business
• Financial management.
• Business planning and raising capital.
• Innovation.
• Negotiation.
• Networking.

The other skills required will vary from person to person. For example, some people feel comfortable doing most of their communication over the phone. Others dislike the isolation that often comes with running a business from home. For a typical individual these skills might include:

• Achieving a healthy life-work balance
• Lifelong learning
• Overcoming social isolation
• Managing fluctuations in income.

Many new businesses require heavy time investment until they become established, so make sure you have sufficient spare time for dealing with family commitments and pursuing other interests. In addition, your business won't just stand still. You'll need to move with the times and that requires you to invest in your own learning.

There are important judgements to be made when you're thinking of becoming self-employed. Take your time before deciding. If you feel you have some skills gaps, find an appropriate training course by using the Internet to locate some independent learning materials. Talk the options through with people whose judgement you trust. And draw up your own balance sheet of advantages and disadvantages. Finally, never opt for self-employment purely as an escape mechanism, but if you're confident that you can make a go of it and would enjoy the lifestyle changes that come with being your own boss, you'll have a solid foundation for shaping a successful business.

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