Are you happy with your life?
Do you dread waking up early every morning to work for someone else?
Are you tired of helping someone else achieve their dreams, while putting yours by the wayside?
It is critical to find out whether or not your should pursue self-employment. Are you worried that you’re just not cut out to work for yourself?
Have you ever made the serious commitment to do so? There isn’t any question that self-employment can be a huge risk.
There is no guarantee you will be successful. In fact, you might even end up working harder for less money.
That can happen. Yet, how else can you be your own boss? What other avenue allows you to pursue your dreams and passions? How else can you decide when and where you work?
Sure, self-employment requires discipline, persistence and motivation. You can’t go in half-heartedly. You’re either in or you’re out. Yet, once you’re in – you will soon start to realize these six impressive benefits.
Save on the costs of commuting
Remember when you got your first decent paying job? You were excited to finally make enough money for all of your bills and extra for savings and entertainment. You probably put on your rose-colored glasses and imagined yourself quickly climbing up the corporate ladder with your intelligence, people skills and sparkling smile. Then, reality set in and you found out that there was more than meets the eye. One price of working for someone else is paying for transportation. If you have a car, you need to make sure it is always up and running.
This means maintenance costs, registration costs, monthly insurance costs, a monthly payment and gas. Plus, depending on the length of your commute, the drive adds to the wear and tear of your car. Don’t get me started on morning traffic. What if you have a meeting offsite? Then you need to consider parking fees. If you’re even a few minutes late, you have to explain yourself to all of the eyes on your back. Is it really worth it? Do you really want to spend a day eating, in the car, rushing to work?
Wear whatever you want
Here’s another thing about working for someone else–you need to subscribe to their dress code. What does that mean? Well, for starters you’ll need several wardrobes–one for work, one for your days off, one for work-related parties and perhaps your gym clothes. That is a lot of hard-earned income spent on clothing.
On top of that, you can’t wear the same thing everyday. Sure, you can buy items that mix and match, but that only goes so far. Not to mention, you don’t want be caught wearing the same attire as someone else. If you’re speaking or hosting a meeting, you might have to spend more money on some tailored pieces with nicer fabrics.
Think of all the money you save clothing shopping when you work for yourself. If you don’t have to meet anyone in person, you can wear whatever makes you feel most comfortable. You no longer have the worry of setting aside a budget for work clothes.
Unlimited vacation time
If you have your business up and running, with a steady cash flow, who can tell you how much or how little vacation you can take? Forget about paid holidays, paid sick leave and two weeks vacation. In today’s hyper competitive work place, everyone is afraid to take vacations anyway because they’re afraid they’ll lose their jobs. Why put that much stress on yourself? If you’ve worked hard and have the funds, why not have a three week vacation? Since you work for yourself, you can work a little here and there if you like anyway. How many corporate jobs let you take three weeks or more in a year?
Live wherever you want
Have you ever dreamt of moving? We all have fantasies of living elsewhere. For many of us, we don’t think we can because, well, our job is here. How can we move unless we first find a job? If you were self-employed, there are no rules about where you can and can’t work.
Love Paris? You can move there! Want to explore Bangkok? Why not? You have the freedom to work from anywhere. Just be prepared for a few jealous former co-workers.
Save on expensive lunch outings
I don’t know about you, but when I worked in the corporate world, I spent way too much money on lunch and happy hour. We felt it was necessary to network, and perhaps, make it seem like we were getting those amazing bonus checks. Even if we were, all of that lunching adds up. Do you really need to have sushi everyday? Plus, isn’t a home cooked, healthy meal often better for you?
When you work for yourself, you cut down the costs of spending money eating out. You have the flexibility to prepare your meals while on your break. And, that is so much better than using the microwave in the company break room. What if you liked fish? Can you really bring fish to work without your boss and co-workers giving you the stink eye?
Plus, you can eat whenever you feel hungry. Is your stomach growling at 3 p.m.? No problem! You can eat when you feel like it, not when your boss says you can. Plus, if you’re still building up your money flow, you’ll be thankful you’re no longer as tempted to eat out everyday.
Earn as much as you want
Who doesn’t like the feeling of having ultimate control over your income? Instead of your boss telling you how much you can make, set your own ceiling. The sky really is the limit. Your profit levels are a direct result of your output in drumming up new business. Sure, it’s not always easy. At times, you might even want to throw in the towel.
Yet, when the money starts flowing in, the last thing you want is someone controlling how much of it you can earn. I remember one colleague who sold $20 million worth of servers and software to a large client. He was a sales executive. He also spent a year putting that deal together. How much commission did he make? $100,000. That is a lot of money, but it’s a drop in the bucket compared to $20 million. What did he end up doing?
He started his own business, and now makes multi-millions. He knew he had the drive to make as much as he could. No employer would ever set a limit on his commission again. Isn’t that what you want? Building something out of nothing is one of the most satisfying experiences you may ever have.
There is something to be said for enjoying the fruits directly tied to your labor. It can be scary to take the fall for any failures you make. Yet, all you have to do is dust yourself off and get back up again.
No one can fire you. Moreover, it’s much better to face the challenges of something you love doing over something you are required to do.
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