Written for EO by Ken Boyd, a former CPA who creates accounting and personal finance content. “Opportunity is missed by most people, because it is dressed in overalls and looks like work.” This quote, attributed to Thomas Edison, captures the reality of being self-employed. Working for yourself allows you to capitalize on opportunities that may not be available to you as an employee. However, seizing the opportunity may require far more work hours and responsibility than you spend at a traditional job. That’s the trade off. So, before you abandon life as an employee in favor of launching your own startup or becoming your own boss, consider these top realities of self-employment. The RealitiesA recent study of 500 self-employed respondents conducted by QuickBooks Self-Employed reveals some interesting truths of being self employed:
How you would respond to these questions? How many hours are you working, and are you able to take time off? What is the quality of your vacation time? Do you have the personality, the drive, and the energy make it as self-employed person? What Does It Take?So, what personality traits does it take to succeed in the self-employed world? After 19 years as a self-employed person, I’ll give you my list of must-have qualities:
Ask yourself: do you have these personal traits? Now, you can develop some of traits over time. In my case, I think I’ve always had the first two traits, but the need to please was tough for me. It’s taken years of self-discipline to turn away work that wasn’t a fit for me. The PayoffWhile the work hours and responsibility are greater for self-employed people, the personal satisfaction of working on your own can be rewarding. In addition, you can jump into interesting projects that you could never take on as an employee. If an opportunity comes your way, you can take on an exciting project and reduce the time spent with other clients. Last, but not least, you have the ability to earn far more income as a self-employed person. Take Some TimeStriking out on your own is a big decision, both professionally and financially, so take some time to think. Ask the people who know you best if self-employment fits your personality and your strengths. Most important, realize that you’ll face more challenges as a self-employed professional. If you’re resilient and adaptable to change, working on your own can be rewarding. Ken Boyd is the author of Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies, and 1,001 Accounting Questions for Dummies. You can find his blog, YouTube channel links, and other information at accountingaccidentally.com.
The post The Realities of Being Self-Employed appeared first on Octane Blog – The official blog of the Entrepreneurs' Organization. via Octane Blog – The official blog of the Entrepreneurs' Organization https://ift.tt/2Fhbr49
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
November 2020
Categories |