Everybody in the general workforce has probably considered or flirted with the idea of becoming self-employed. Who among us wouldn’t want to be our own boss, calling the shots, and generally doing things the way we see fit as opposed to carrying out the wishes of the unseen corporate hotshot in the upstairs office. It’s an attractive notion, but not one that should be entered into lightly. As appealing as it is, only about 10% of folks are self-employed, while a staggering 71% say they would like to be.
For starters, it’s not a cakewalk…..it’s hard work. To be successful you have to be resilient, resourceful, flexible, and willing to step out. Suddenly, you are without the benefit of a well oiled company machine and competent staff to make sure everything gets done, and the success or failure of any project lands squarely on your shoulders.
Some of the obvious benefits of self-employment include, but are not limited to:
Flexibility – you can work from anywhere. How many of us have the exact gripe that we could do our job from home, a coffee shop, or a park, and probably be much more productive, yet we find ourselves tied to a cubicle desk. Well, now you have that option.
Freedom of Choice – you choose when you work, and for how long. Sometimes our best and most productive hours are not necessarily between 8AM and 5PM. I know mine aren’t!
Be Your Own Boss – this is the biggie, because who isn’t convinced we know better than the boss man? Well, this can be a plus, assuming that you do, in fact, know better. If not, well, more on that later…
Wear What You Like – I worked for myself for 20 years and was always more than comfortable in a jeans and t-shirt. The idea of the dress code never made any sense to me. An employee who is comfortable in his element will always be more productive. Always.
Earning Potential – yes, Virginia, you can reap higher benefits working for yourself. Not to say it will come easy, however.
Of course for every upside, there is the inevitable downside:
No Fixed Income – I worked for myself for over 20 years, and it was doubly frustrating because my income varied from month to month. It is impossible to budget when the amount coming in keeps fluctuating.
So Long, Perks – it’s easy to get used to little things like benefits, insurance, free internet, and business class travel. Don’t expect to be able to afford them when you’re self-employed, at least not for a while.
You’re Always On The Clock – time is money, and one of the things I learned early on was that the amount of time I put into my business was directly proportional to the amount of money I had to spend. Even on vacations or days off you will find yourself monitoring your phone and e-mail messages.
No Best Mates – unless you have a partner in your business, anybody you hire will automatically make you a “boss”. Being the big guy doesn’t really lend itself to “hanging out with the guys”.
A Whole New World – of responsibilities, anyway. You’ll not only be doing the job you are familiar with, but you will be getting crash courses in other areas of your business. You may be down with marketing, but you’ll have to step up and learn sales, finances, web design, and management skills…if you plan on having a viable business.
So are you ready for the world of self-employment? Does it sound appealing? Do you hear Johnny Paycheck’s “Take This Job And Shove It” ringing in your ears? Well then, ask yourself a few questions….are you ready to work the long hours it takes to become successfully self-employed? Can you handle the stress, and the fear of potential failure? Do you work well alone and figure out how to overcome obstacles? If so, your home office may be the place you need to be. Weigh the good and bad carefully before making your choice.
(These words of wisdom were written by an author who is in fact, gainfully employed….by someone else…)
Take the monster.com self-employment quiz to help determine if you are ready to make the leap (I’m not quite there yet….)
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