Is Being Self-Employed Right For You?

Business & entrepreneurship

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Have you been thinking about venturing off on your own?

If you want to be self-employed one day, this is the article for you. There are many myths and false pretences out there about the notion of working on your own. I wanted to give you some food for though today.

What should you think about before you travel down the self-employed route?

Your responsible for the money in every way.

The money is all on you. You have to have the money coming in. You have to pay suppliers. You have to take care of the accounting and taxes.

As you can see, you have to deal with all of the finances. Is that cool with you?

If you don’t like to deal with the financial side, you can outsource everything. Then of course, you have to pay for this. Money is now your issue.

The buck stops with you.

Not only is the money your problem, you’re also responsible for everything. You have to hire, outsource, design, delegate tasks, and take care of everything on your own. Everything is on you.

Some of us enjoy this type of responsibility. It gives us a sense of entitlement. For some it’s a pain. Which side do you fall under?

There are no set work hours.

You no longer have a 9-5. Your set hours are gone. This is good and bad.

The good news is that you can sleep in and work whenever you want. Feeling tired? No problem, just take the day off. Feeling motivated? Stay up all night.

The negative here is that there are no boundaries. You can be up all night and then sleep in, totally throwing your schedule off. You might be stuck working weekends and holidays. You might even offend your partner or friends when you bust out your laptop at the worst possible time.

You can easily overcome this. You can create a schedule. You just have to be disciplined enough to follow through with this schedule and stick with it no matter what. Can you do that?

You can get bored really fast.

You’re on your own. With all of your friends at work, you’ll be in your apartment all day hanging out by yourself.

The annoying workers won’t seem so bad on a boring and lonely Tuesday afternoon. You have nobody to bother or catch up with. You’re just on your own.

Do you like being alone? Would you prefer to be surrounded by others?

Being self-employed isn’t for everyone. It could be for you. If it’s not, that’s cool. The best solution is often to start a side business on the side while you still remain at your full-time gig. This will allow you to save up money and make the transition easier when you’re finally ready.


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