Self-employment has countless benefits like maintaining your own schedule, choice and variety in your routine and the ability to become financially free. Why let others (bosses, governments) tell you your wage or how many paid sick days you should get? This article outlines why working for yourself is the best choice you can make and how you can easily make the transition yourself.
Why ‘Being Your Own Boss’ is best:
- Wake up on your own time! Yes, that’s right. Sleep when you feel like it, wake up when it’s comfortable and schedule all your work in between. Set your working hours so you have the power to arrange meetings when they work best for you. Wake up when you want, not when an alarm goes off. True, sometimes entrepreneurs find themselves working at 4 am because the city is more quiet at that time, but who cares? When work is done, it is certainly no problem to adjust your sleep schedule and wake up at 11 if need be. You’re the boss of you!
- Enjoy Each Day to the Fullest. Something fun/important comes up with family/friends? It’s important to indulge yourself when it comes to your work-life balance. Friends surprise you with a ski trip? Go! Sudden surprise visit from a loved one? Take a half day and spend time with them. When you work for yourself you have the time and energy to do the things you truly want to do.You are the boss. Work when it’s time to work.
- Set your own wage. Always count on making what it is you want from your work. Why allow the government to set your ‘minimum wage’? When you become known for what you do and you excel at what you are good at you will be able to set a wage that is fair and reasonable to those who know you and value your service. The more years and experience you have in your field mean you can demand more for your time, meaning there is no time like the present to embark on your dreams. Only accept short or long term contracts if the pay is what you want.
- Take a day for yourself anytime! Free yourself from the shackles of the 9-5 and don’t let the government tell you how many paid sick days you get. One of the best parts about working for yourself is you re-gain your freedom. This newfound freedom to think, plan, work, organize and have fun means you will naturally become healthier than ever. It is actually very rare that those who work for themselves even have to take a ‘sick day’ let alone requiring a day for wellbeing. Every day is meant to focus on our wellbeing.
- Claim your Work Related Expenses. Yes you will still pay taxes on your earnings, but you can also claim some expenses on items related to your work. Many people are claiming a portion of their rent or mortgage payment thanks to their home office. Using your cell phone for work purposes? Yep – you can claim part of that expense too. Want to buy one of these office desks or treat yourself to some new office supplies? You may be able to claim this on your expenses too. Take your taxes to a great accountant who can prepare your business taxes for you now that you work for yourself!
When you begin working for yourself the pay ceiling is unlimited. Make as little or as much as you are willing to work for. No longer are you bound by government or company rules around your hourly wage, days off or having to be somewhere giving 8 hours of your precious time every single day. Self-Employment can offer investments for your future to ensure you have the ability to retire with savings in place of a pension. If you are thinking about losing “health and dental benefits” you might currently enjoy with a 9-5 job, it may help to know that all the extra disposable income you’ll have often offsets any of those costs.
Your newfound freedom means your health, wellbeing and sleep schedule often improve: you won’t be visiting doctors. Trust yourself and your journey to self-employment.
You can do it! HOW?
How To Start Working For Yourself
1. Make your work as portable as possible. Travel with your smartphone, laptop, Go Pro or professional camera and create your marketing content on the road. If you have wi-fi, you essentially have a working office. When your work is internet based, you can pick up and take your work with you. Want to hit the surf or hike mountains in the morning and publish content in the afternoon? Do it – just make sure you have access to a decent internet connection at some point in the day. Make trades or buy shares when it is most strategic – you could look into fractional shares too as an alternative way of investing in the stock market which could also make doing so more accessible. Monitor the stock market. Email companies and marketing managers offering collaboration and get involved in referral based sales and consulting.
2. Stay in school as long as you can. Continually learn new things in your life and achieve new goals. Find out what you love, what you are good at, hone and diversify your talents and become known for your skills. Learn languages, photography, instruments, code, writing, car repair, fashion, communications, construction (or anything) and you now have a world of wealth at your fingertips to capitalize upon. Always keep learning and following your passions. When you excel at the things you love it becomes easier to market yourself as a teacher, guide, guru and expert in valuable fields.
3. Walk a fine line between consistency and adaptability. Customers and clients come to rely on you for your delivery; yet you must be flexible enough to adapt to emerging trends and technologies.
4. Learn Marketing and Promotion! Make sure your skills and talents go far! The next important step in launching your self made business is getting the word out to the world. Be fearless and be confident in your ability to do the best job possible. Trusting in yourself will help you go the distance. Always believe you can do it, and you will! Network and make connections as much as you possibly can. Utilize social media to the fullest. Make publicity for yourself often.
Potential Pitfalls
Sometimes the uncertainty of a contract or paycheck can be daunting for some. If you are great at budgeting and managing money, you should be able to minimize this risk. People really enjoy company benefits if they take expensive medication or have extensive dental work done. Some employers even cover safety equipment, eyeglasses and contact lens related expenses or a portion of for their employees. Know that you’ll be footing the bill for your independence.
Can you think of other potential pitfalls to self employment?
Comment below.
Add your thoughts… Why else is it great to be your own Boss?
How you have harnessed the power of your own skillset to make money for yourself?
Take a page from Theresa Longo’s Example:
Be Your Own Boss
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