Have you ever wanted to be self-employed? Self-employment isn’t an unfamiliar term in today’s gig economy. Whether you are considering towing the path to self-employment or need the motivation to keep going, this article details the benefits of being self-employed.
Self-employment: is it worth it?
Perhaps you are ready to tender your resignation letter and strike out on your own. Or you are undecided about pursuing white-collar jobs or pursuing your passion. Perhaps you are nervous and hesitant about starting a business or becoming a freelancer.
Honestly, your concerns are valid. There is a barrage of opinions and discourse about self-employment out there. Some of these schools of thought laud its pros while others vehemently protest the concept. In the midst of conflicting opinions, it can be daunting to weigh your decision.
However, we’ve put together a convincing list of advantages that come with being self-employed , to help you take the plunge or make a reasonable, non-regrettable decision.
The Perks of Being Self-employed
1. Autonomy
Working in corporate environments entails taking orders and playing by set standards and practices. This can be limiting and frustrating, especially when the stipulations don’t align with your personal interests. If you are tired of being told what to do or what not to do — If you are tired of bottling up great ideas for fear of insubordination or ruffling feathers, then you should consider self-employment!
One of the prime advantages of being self-employed is having full control over every aspect of your company or business. You choose what to venture into and what to sideline, you choose who to work with and who to avoid, you choose your target market, you choose your strategy, and you choose your branding elements. Ultimately, you have all the say and can make all the choices that support your interests.
You also get to choose where to work and what hours to put in. If you are a home service gardener, for instance, you can choose to work three days a week or all days of the week. You get to do as you please, and it is the best thing ever. However, you must be careful not to get carried away by “the freedom of choice” and make bad decisions. You must make judicious use of this advantage to reap excellent results.
2. Maximizes your Earning Potential
Money is one of the primary reasons why we work. We want to earn big bucks while pursuing things we are passionate about. We want to maximize our earning potential and accomplish all our financial goals. However, working under people or organizations can limit your earning potential.
Sometimes, you may need to break your back or bend over backwards to earn promotions and bonuses to improve your income. Generally, there is an income cap on your earnings depending on your career or role. There is hardly a proportional increase in income despite significant salary raises and additional bonuses.
On the other end of the wavelength, you can maximize your earning potential if you are the boss. You are not restricted to a land-locked salary or company clauses that limit the use of your skills. But bear in mind that it takes time and effort to build up your income when you become self-employed. But if you are willing to muster the patience and courage, the sky will be your stepping board.
3. Job Security
When working with a corporate establishment or an institution, you are constantly in fear of being sacked or laid off. We’ve seen numerous instances of booming businesses being sold or going bankrupt, leading to mass layoffs. Also, a small mistake or an oversight can cost you your job.
Though entrepreneurship and self-employment are also rife with risks, as there isn’t a guaranteed or stable paycheck and outcome, you can always be in business.
This is especially true if you are offering an indispensable service such as house service childcare. As long as there is a demand for your skills and services, you will have maximum job security.
4. Flexibility
This goes hand in hand with having autonomy. Most conventional jobs demand set working hours with a few offering flexibilities at a cost. You will only get a specific number of days per year to take a break. But if you are self-employed, you get to decide when to take a breather and when to work.
You also get to decide how long or how much you work depending on your schedule and income margin. For instance, If you miss your family and need to travel, you can take a few days off and make up for those days when you get back ( by working extra time ). You can also put in long hours for a month to free up personal time for the subsequent month.
On the whole, you are the master of your work and your time. While you may not be able to negotiate working hours or compensate for lost time when working a traditional job, you can do so as a self-employed entity.
5. Ensures a Healthy Work-Life Balance
Frankly, self-employment can be stressful and demanding, especially if you are just starting out. You will confront late nights, early mornings and impromptu events. A client may need your service at the most inappropriate time. But despite the ups and downs, you can map out a healthy work-life balance when you are your own boss.
You can design your work structure to suit your lifestyle. For example, you can work from home as a house service virtual assistant to eliminate long and stressful commutes. You can also assign work hours that are in tandem with your lifestyle requirements — if you are a morning person, you can set your work hours in the morning through lunchtime and if you are not, your work hours can start at noon.
Additionally, you can structure your work environment to reflect your personal values and imbibe a healthy work culture. For example, If you detest corporate politics or lousy workplaces, you can work towards avoiding that. This is a rare opportunity often unavailable for people working traditional jobs.
6. Promotes Creative Freedom
As earlier mentioned, traditional jobs may restrict your creative flows and ideas. A company may be rooted in traditional practices and may not give room for ideas or skills they consider “unconventional”. However, being your own boss gives room for your ideas to fly and your skills to shine. You get the opportunity to develop your own products and services and market them in a unique style. You can test, experiment and explore as many times as you want.
Also, you will be willing to take risks, knowing that you are solely accountable for the outcome — whereas, in traditional employment, you can’t take risks at your discretion, lest you jeopardize the company or business. Having creative freedom is incredibly fulfilling and can help you build a brand and reputation that is distinct from the norm.
So if you have an idea that is festering in your mind, take time to do comprehensive research, weigh the risks and outcome and take a leap of faith! Who knows, that seemingly “insignificant” idea in your head can become a celebrated innovation someday!
7. Encourages Personal Development
When running a business, you get hands-on experience in all aspects of the business. From customer service to financial management to operations, you will learn an assortment of skills and grow beyond your limits.
Whether you are a house service nanny or event planner, you must be resourceful when branching out on your own. Unlike traditional employment that confines you to a certain role, working for yourself demands all-out involvement.
You will need to upgrade your skills and fine-tune your existing expertise. You will be forced to learn new things that you naturally wouldn’t have bothered with, for the sake of your business growth and success. The acquired knowledge and skills will help broaden your portfolio or CV and earn you more and better opportunities.
8. Instils a Sense of Pride
Building your business from scratch, making optimum use of your skills or pursuing your long-time hobby is incredibly rewarding and satisfying. You won’t get this type of fulfilment from helping another person’s business or company.
You will feel proud of your big and small wins because you did it for yourself and yourself alone. You mustn’t accomplish ultimate success to feel good or proud, even the little milestones will make your heart sing with joy. And it will encourage you to work even harder and leave a lasting legacy.
From landing your first job or client to making your first profit to setting up your office space to employing your first employee — these small milestones are worth accolades and applause. Even falling and getting back on your feet will make you happy and accomplished. You will experience both the joy of failure and success.
On a Final Note
There are many rewarding benefits of being self-employed. And honestly, the pros outweigh the cons. Do your homework and make the best decision for yourself. And if you are considering freelancing, check out the House Service App to maximize your income and attain job satisfaction.
House Service App is the hub of home services that helps you get your life together!
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