Becoming Self Employed
Are You Ready?

Many people today are looking towards becoming self-employed for many different reasons.

The two biggest attractions stem from the flexibility that it allows you complete freedom and also the fact that you are your own boss.

However before you actually take the plunge into the wonderful world of self-employment, there are few things you will have to consider.

I think if you’re able to answer in the positive on all the counts mentioned below, then yes you are ready:

self employed women talking business on the phone

  • Flexibility – You prefer a flexible schedule and who doesn’t? However, in order to succeed on your own, you must understand that self-employment does not mean you will have a shorter work week. On the contrary, it will mean more responsibility which consequently means more working hours. You will be able to set your own scheduling rules but not working will also translate into not earning. 
  • Control- You want more control over the working of your projects, ideas and are a control-freak. Your ideas will be your own and only clients will be able to criticize or appreciate your work and you will answer to no boss or team. 
  • Passion- You may be passionate with your work but that passion has to translate to your clients and customers. In order to thrive in your own business, you must have unbridled enthusiasm for your work. That is the only way to avoid being discouraged and burning out. 
  • Listening- You must be a good listener to your clients and customers and be able to think analytically and offer solutions.
  • Decision Making- You must be comfortable with taking all decisions on your own. With becoming self employed, there is no passing the buck. With no co-workers, your stress-relieving avenues automatically shrink and you must have a strong support system like family and friends who will be willing to help in times of doubt. 
  • Discipline- You must be proactive and be able to take initiatives in everything you do and effective time-management is critical. Waking-up every day at the same time and working normal hours every day is what self-employment is all about. Again, you have to keep in mind that the day you don’t work, no money will come in.

work smart for the business

In addition to all these things, you should be willing to work smart by attending seminars, fundraisers, workshops and conferences and get use to doing these things alone as you will have no team.

You have to be able to compartmentalize and balance your professional and private life and allocate sufficient time for work and family.

In addition, becoming self employed also means a certain amount of volatility. There will be phases when there will be a tidal wave of work and then there will be stretches of drought. Above all, you will have to be resourceful.

No more cubicles and clocks, you are the boss and the employee and the one person responsible for sales, taxes, financials, technology, accounting, legal issues and anything and everything that crops up in your work.

It’s great to be able to pick and choose what you do, when you do it and whom you do it for, just be prudent with your decision since you will be the person who has to undertake many skill sets to get and keep things moving.

Becoming self employed sounds very attractive but believe me when I say it is not for everybody. If you’d like to take the leap but have some reservations and would like to get a clearer perspective on whether or not this is for you, get in touch with me  I can help to clarify your doubts and help you get a clearer picture on becoming self employed.

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