Finance Menu
Banking
Bankruptcy
Career/Work
Education
Family/Home
Insurance
Investing
Loans
Real Estate
Retirement
Taxes
Articles
Resources
Reviews
Sitemap
Videos
Career - Self Employment
Are You Ready To Become Self-Employed?
If you are interested in starting a business, or taking over one, you face a daunting task that carries a level of risk and excitement not possible in the 'employee' world.
If the financial independence of self-employment appeals to you - no boss,
no income limits as to time and wage, and the ability to let your personal
drive determine your compensation - then you will no doubt be eagerly
going over the many options available to release you from your current
job.
However, the rush of financial excitement must be tempered by the necessary
cost of time, money and effort in properly setting yourself up independently.
Despite income claims made by business opportunity companies, or competing
businesses, you must be ready to accept the reality of not seeing personal
income for several months - or even years.
Starting a self-employed business on the side, while keeping regular employment
as your financial security, is a wise method of ensuring your income.
Another option is to have substantial savings that permit you the freedom
to pursue your dreams unencumbered with other employment. However, the
savings must also be capable of carrying the costs of developing a business
along with providing for your material needs.
Do you also recognize the time that is required in starting your own business?
In some ways it is almost unnecessary to bring up the point since your
passion will likely drive you to spend many hours in your pursuits. If
you have other obligations; family, job, social etc. then you will have
to consider if you CAN devote the time needed to get your business off
the ground.
Having discussed both money and time, you must recognize that there is
much more effort extended BEFORE a business is profitable than at any
other time in your business. Yes, once you are getting work and are satisfied
with the income level you may be very busy indeed but you will then be
compensated for it. When you are still cultivating your business - marketing,
doing free jobs, searching for clients and customers - you may not be
seeing any income, or a very meager one, which makes your EFFORTS seem
immense.
Do not falter! If you come to the point when you are working your hardest
and doing everything your business requires but still not seeing monetary
results, you may hit a psychological wall. This is where truly entrepreneurial
individuals see an obstacle to overcome as opposed to a dead-end to their
hard work. Passion for their work and the strong desire to work for themselves
overcomes any perceived barriers and moves them to keep going and ultimately
becoming very successful.
By persevering you will certainly see the fine fruits of your labors and
prove to yourself and others that the benefits of self-employment far
outweigh the mediocre status quo of the typical worker's daily grind.
Subscribe to "Your Finances."
Our monthly personal finance newsletter, helping you with your finances.
Don't worry--your email address is totally secure.
I promise to use it only to send you "Your
Finances."