Simon Zarifeh is an Australian qualified lawyer and founder of Setup Secrets, a program that is specifically designed to help people all around the world make one of the hardest transitions that exist in the business world – that of going from employee to business owner.
Zarifeh is using the knowledge and experience he has gained as a lawyer for the last 20 years to deliver a unique, robust and supported program designed to help individuals obtain the benefit of operating a virtual service business without the downside risk of uncertain income (which plagues most new businesses).
To do this Zarifeh advocates not leaving employment until the new venture can more than support the employee. A move echoed by the Harvard Business Review.
Explains Zarifeh “most, if not all, new business that start operating are primarily concerned about making enough money to cover costs. We have assisted many businesses with this concern by putting in place smart business contracts.
However, at the end of the day, this issue started us wondering about whether there was a smarter and lower risk way for people to set up and operate these types of businesses.”
Zarifeh has been operating his own service business, a law firm that specialises in business contracts for people all around Australia, online and remotely for the last 10 years. Of the hundreds of customers he has assisted, he has only ever seen one customer face to face. Proof that services can be provided remotely.
The next break through Zarifeh had was that his business was fortunate enough to win a couple of large clients that basically kept his law firm fully engaged just servicing those clients.
Always practical, and concerned about the risk of having the vast majority of his revenue linked to a small number of clients, Zarifeh set about building his law firm around those key clients. A move Zarifeh claims is identical to a person building and operating their own virtual service business whilst being an employee.
That realisation was the light bulb moment where the idea for Setup Secrets was born.
The future of work for all employees around the globe sees the increasing rise of the gig economy worker. There are projections that by 2027 ‘60% of the workforce will be independent professionals’.
With the rise in gig workers and the increasing willingness of companies to use gig workers current employees would be well served to start their own business, at the very least in an effort to future proof their income.
Zarifeh states that ‘at the end of the day if we can help some employees become their own boss, take control of their life, not be limited financially by an employer, and do the sort of work they want to do then we are a success’.