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Pros And Cons Of Being Self-Employed
Pros And Cons Of Being Self-Employed
By Sharon Housley
Many employees dream of someday being
an employer rather than an employee. There is a lot
to be said for being self-employed, but it is not always
as perfect and wonderful as it may seem. In addition
to benefits, there are also some distinct downsides
of being self-employed. Let's take a close look at the
pros and cons of being self-employed....
Pros Of Being Self-Employed
1. Set Your Own Hours
Being self-employed gives you flexibility
that an employee can only dream about -- you get to
set your own hours, choosing to work or not work whenever
you want.
2. Control Your Own Destiny
Being self-employed allows you to control
your own destiny. If you land a big account, you will
reap the rewards. But the same is also true if you lose
a big account! Good or bad, you will personally feel
the impact of any decisions you make. But despite the
potential for bad decisions, many people still like
having a hand in their own destiny.
3. Vested Interest
Self-employed individuals have a vested
interest in their personal success. They are accountable
to themselves, and they have far more incentive to make
their businesses successful and profitable.
4. Make Decisions
How many times has an employee disagreed
with or been confused by a decision made by upper-management?
As a self-employed individual, you ultimately have the
final say in all decisions.
Cons Of Being Self-Employed
1. Disruptions
Family members often do not understand
that even tho you are self-employed and are your own
boss... you still have to work! In fact, due
to your flexible schedule, you will likely find yourself
on-call for all sorts of family errands, doctor appointments,
and emergency contact lists.
2. Lack Of Financial Security
Being self-employed often lacks the financial
security of a traditional job.
3. Isolation
Being self-employed can often be an isolating
experience. Many friends, who are employees rather than
employers, are not going to understand or even be aware
of the serious concerns and issues that you have to
deal with on a daily basis.
4. It Requires Self-Discipline
If you are self-employed, you must have
a great deal of self-discipline. There is no "boss"
to be on your case if you show up late, or not at all.
But even tho you are the boss, there will still be a
consequence for not putting in the long hours required
to run a small business, and it will normally be reflected
in the bottom line and business profitability.
5. Motivation Issues
It can be difficult to get motivated,
especially when you are only accountable to yourself.
6. Separation
It can be difficult at times to draw a
line between your business life and your personal life.
This can be particularly true if you have a home-based
office. Creating a balance that works for both your
business and family life can be an ongoing struggle.
Before you take the steps to start your
own business, make sure you understand the pros and
cons of being self-employed.
About the Author:
Sharon Housley manages marketing for FeedForAll http://www.feedforall.com
software for creating, editing, publishing RSS feeds
and podcasts. In addition Sharon manages marketing for
RecordForAll http://www.recordforall.com
audio recording and editing software.
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be greatly appreciated send an email to sharon@notepage.net
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