Self Employment Is Sweet Victory

Written by: Lilly Cobal
07/25/2019

self-employment

Being self-employed and the captain of your own destiny is quite an accomplishment in life. Self-employment holds many rewards. But the rewards that you have earned are not without taking risks and hard work. 

As a self-employed owner, you make decisions that impact your present and future, not only for yourself but for your family members. Yes, your future is in your hands. Let’s look at a few benefits that come with being self-employed. 

You have total control over your own business. You make the decisions and set the goals of how your business will operate without someone else telling you what to do. You set the tone of your self-employment hours, schedules, employees, financial situation, personal payrolls, medical and insurance responsibilities and more. 

Granted, on the surface, this sounds overwhelming, but as a well-planned individual, you already had a business plan and the professional people to help you get started, i.e., banking institutions and attorneys. 

A business plan is a working schematic of what you are providing, including how and when your product and or services will be provided. Setting goals is vital so that you have something to aim for. A business plan at least in basic form should include financial projections, staff members, funding, and a vision for the future. 

For certain, as a self-employed business owner, there are free resources that can help get you started. You are not alone. Even the Small Business Administration provides many resources and business counseling contacts to assist that you are heading in the right direction. 

The ability to be in control is a confidence booster and a motivating factor knowing that you are wholly invested in this venture. Starting your self-employed business, it is nice to know that you have certain entrepreneurial skills that existing businesses and individuals are interested in. 

This means that you are creative in how to increase your revenue base. You can create new products, supply services, and find new customers. You have smart business acumen and good work habits. 

As a self-employed person, you obviously keep succinct financial records or at least you have hired an honest accountant. To survive, business is about business management and accounting. In your creativity as an entrepreneur, you shape your own dreams and those of others that will work for you. 

Your own creativity allows you and others to continue to build and grow successfully. Helping your employees also helps to support the surrounding communities. When you think about the importance of self-employment, you are also improving the lives of the community.

Being self-employed means that you must think quickly on your feet. Why? Because you are on a tight rope without a net. For example, there is no guarantee that the services or products you offer will continue to be popular. Customers could fall away which will drastically affect your bottom line. Now you go from a weekly paycheck in working for someone else and now your pay is somewhat uncertain.

For these reasons and others, as a self-employed person, remembers to have in place what they need to survive. Being self-employed, especially initially, is intimidating, stressful and at times seems futile. But at the same time starting a business is also creative, fearless, beneficial, and purposeful. Being self-employed is the best goal to experience your own independence and happiness. 

After you’ve set up all the components you need to start your self-employment business, now you must grow it. Networking is a vital step to remain competitive. You must be a people person because when you network it helps to provide a marketing introduction. 

Another key component is to stay competitive. If you don’t, your customers will quickly look somewhere else to take their business. Look at what your competitors are doing in the same field as yours and do it better. 

But in this type of business diversity, concentrate on making your product or services better. Don’t lower prices to be competitive. This type of action never works because it only lessens your profit margin which you can not afford. 

“No man is an island and no man stands alone,” therefore you need help. As a self-employed owner, you must hire the right employees. Yes, there are background checks to perform. 

But one of the key thoughts in hiring the right staff is to hire people with the skills and experience in your industry that will help propel your business forward. 

Working for yourself is not an easy task. There will be adjustments that you may have to anticipate or acclimations that must be made as you grow. Remember the key word is “grow” which is why you must prepare for improvements. 

Self-employment means that your personal life and responsibilities drastically evolve. For example, you may need to curtail dining out and eat more meals at home. You don’t need to drastically cut back on your lifestyle, but you will need to live more frugally because you are seeking to pay yourself.

Do the names Oprah Winfrey, Howard Schultz (Starbucks), Sara Blakely (Spanx), a majority of the Shark Tank panelists, all began with hardly any monetary support. They also did not listen to those voices that said they were unwise to be self-employed. 

As a self-employed business owner, you soon learn so much that you did not know before. Also, your personal life is enhanced by your business knowledge. When you were working for someone else you probably always put off DIY projects.

Now as a business owner you have learned that it is not fruitful or profitable to put off work that needs to be done. You have also become more innovative, business savvy, intuitive, and responsible. You will have learned that you can commit to changes for the better, especially as it applies to your family. 

No matter what, don’t give up on your self-employment goals. No one ever achieved anything by giving up. If you fall, get back up. If you don’t you will always likely wonder “what if.” When you don’t give up, then you succeed to the point where you can savor your sweet success!


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