Advice For Becoming Self Employed

Dream [Photo by LaPrimaDonna] (CC BY-SA 3.0)

Being self employed can be both scary and risky, but it’s not as difficult as many people think. For those who love freedom, setting their own schedules and working on things that excite them, it can be well worth the risks. Being successfully self employed requires a ton of hard work, an ability to learn from your mistakes, and an ability to not give up.

For these reasons, not everyone is cut out for self employment. There are many people who love the people they’re working with and love what they do at their current job, and for these people being self employed is unlikely to provide much greater benefits. However, for those who are unhappy with their current jobs self employment can provide a great alternative. Starting small, with zero or very low expenses,is a great way to reduce the risk and fear of being your own boss.

Steps to Become Self Employed

The first step in becoming self employed is to decide if it is the best choice for you. If you can work well independently, self motivate and keep on task then you are a good candidate. Also think about what you would like to do while self employed. The two most common approaches are to become a small business owner or to offer your services as a freelancer or independent contractor.

The Businessman - A3 [Photo by h.koppdelaney] (CC BY-SA 3.0)

The next step is to make a list of your skills that you feel you do well enough that someone might agree to pay you for doing it. Review the list and check off those skills that you also enjoy doing enough that you could see yourself doing it for 40 hours or more a week. Research these items to see if a market exists. Check to see what the local competition is like and what they are charging. If you are considering freelance work online, search the internet to see what opportunities exist.

Benefits of Being Self Employed

The working life of self employed people is radically different form those who are employed for many reasons. One of the key differences is that you have more control over how much your earn. If you work hard and are good at what you do, you can often make more money then if you work hard at a regular job where the amount you earn is fixed.

Revtank Outtakes [Photo by MiiiSH] (CC BY-SA 3.0)

Another benefit of some forms of self employment is that you don’t even need to leave the house, so you can forget all about wearing business suits or uniforms. Also, your mornings in your self employed life will be completely different. You can set your work hours to a time of day that suits you best, and eliminate the rush hour commute.