Cameron Tyler, a supportive reader of this blog, sent me the most eloquent guest post query I’ve ever received. His professionalism and passion for empowered living were clearly evident in every word and I’m honored to feature him for today’s post.
As the economy continues to change—and the work force with it—people are on the lookout for better ways to earn an income. For some, this means making the switch from traditional employment to self-employment. In fact, approximately one out of every nine individuals in the U.S. workforce is self-employed. If you have dabbled with the idea of being your own boss, this is a great time to make this jump, but as with all major career moves, this one requires a little soul-searching and contemplation before taking the plunge.
Signs You Are Destined for Self-Employment
Being self-employed is quite freeing and rewarding, but not everyone is cut out for it. Are you? There are some signs to look for that indicate you might be a good candidate.
• You need to be a self-starter with the ability to successfully manage your own schedule.
• Have a passion about what you do. This enthusiasm for your work will keep you motivated to continue, even when times are tough.
• You must be one who thrives while working in isolation. Set up a support structure, but do not expect engaging water cooler conversations, as there will be none.
Pros and Cons
Flexibility is one of the most misunderstood pros of working for yourself. While your work schedule will be flexible, it is not necessarily going to entail shorter days. In fact, most self-employed people work longer days than those who are traditionally employed; the hours are just a bit more flexible. You can work from 8 p.m. until midnight if you want, or you can get up in the wee hours of the morning to work, but you will need to be ready to work hard.
One of the most difficult things for many self-employed individuals to handle is the ebb and flow of work. Sometimes, you will have more work than you can handle. At other times, you will sit staring at the phone waiting for it to ring or continuously refreshing your email inbox. Facing this cycle requires courage and fortitude, not to mention a lot of patience.
Lost benefits can be another hurdle to overcome in your quest for self-employment. Your 401(k) is no longer going to be matched by your employer, and you will lose your company insurance plan. Instead, you will need to purchase your own health insurance for your family and set up your own retirement savings account. This can sometimes be expensive, but you have several options you can consider.
Making the Switch
If, in the end, self-employment is the right venue for you, the key to your success will be making the transition as smoothly as possible. Begin by researching all you can about your business idea, ensuring that it is something you love. Then, start offering your product or services to potential customers. Always go the extra mile to satisfy your customers. Set your prices high enough that you are not undervaluing what you offer and can pay your bills. Once you have a sufficient number of clients, quit that day job and start enjoying life as a self-employed individual.
By working for yourself, you open the door to endless possibilities. You can be as successful as you want to be, as you do not have a boss or coworkers holding you back. You can pursue your passion while making money at the same time. This also opens the door to working from home, which cuts overhead and allows you to spend more time with your family. By making this transition, you are no longer at the mercy of others to ensure your success. Do your research to ensure it is right for you, gather your courage, and then take the plunge into self-employment!
Cameron Tyler is a driven recent college grad pursuing a life full of empowerment. He currently blogs and serves as the admin at Cooks and Travel Books, Eat Breathe Blog, and Technected. “Making your way is not always easy, but hopefully this article will help those who are looking for a little motivation on their own life path.”
I read this article in the Harvard Business Review yesterday. The author surveyed 30 professionals from 28 to 58 to ask them about their deepest career regrets. I was surprised by the results. In short, they wish they hadn’t taken jobs based on money, had quit earlier to start their own businesses, and had trusted their gut when it came to their careers.
Christa Avampato 