Want To Be Self-Employed? Read This First!

The Dream of Being Successfully Self-Employed

The “dream” is quite possibly innate to anyone who is already self-employed. The idea of having the artistic freedom necessary to create winning marketing campaigns is probably one of the most often cited reasons why an employee would much rather prefer to be their own boss.

Another reason is the fact that the relationship between employer and employee has broken down at some level and the employee realizes that certain needs have not been met and most certainly will remain unmet while in the employ of the company.

Yet self employment itself is a bit of a double edged sword and not everyone is cut out for this mode of earning a living. If you are contemplating this step so as to work from home and throw off the shackles that corporate employment has become to you, think long and hard if you are truly ready.

There are a Set of Problems Associated with Being Self Employed

Perhaps the biggest obstacle a novice faces is his or her own self. Having a dream is easy; yet making this dream a reality demands a certain level of self discipline. Some personality types are not able to transit from reporting to a boss to reporting to no one yet remaining just as driven.

Additionally, some personality types that benefited from the buffer the employer presented when it came to relationships with clients or customers, will sorely find their patience tested when a new client harshly criticizes the marketing strategy you present to them. Especially if you are in an artistic field, some of these criticisms could feel like personal attacks or even personal rejection, making this form of employment almost harder than working for someone else.

Who will Bankroll Your Endeavor

The second problem you will face is the question as to who will bankroll your endeavor. After all, it is not enough to have a great idea. You probably also have bills, a family to feed, and if nothing else the daily needs that have to be fulfilled. The number one challenge associated with this step is the fact that many a newbie will use credit cards to get set up.

Yet the problems do not end there. How much liquidity you have at the onset will also determine your overall success since it dictates whether or not you can live with the fact that one client is taking an extraordinary long period of time to finally pay you.

If one or maybe even more slow clients spell financial trouble to such an extent that you have to touch your retirement savings or home equity, you might not yet be ready for self employment.