6 Benefits Of Being Self-Employed
For many, working for oneself is an enjoyable and lucrative way to earn a livelihood. Success when working for yourself and developing a profitable business involves perseverance, effort, and resourcefulness.
First and foremost, the work structure accompanying self-employment carries the possibility of numerous benefits being realized. Freelancers, gig workers, sole proprietors, and members of LLCs are examples of self-employed people.
In this piece, we will define self-employment and then analyze the advantages of being self-employed.
1. Take Control Of Your Life
People who go into entrepreneurship typically enjoy being in charge and making decisions. As a self-employed business owner, you have the autonomy to make choices that affect you and your family's present and future. You are the sole controller of your fate.
However, your financial status will only depend on you and your employee’s success. For some, this can be a bit stressful as an entrepreneur. I have seen many employees complain about how their employers are not considerate and how they are control-freaks- that’s not what you want to be when you start your business, right? When you become self-employed, consider treating your employees right if you want your business to be successful.
PRO TIP: Download our free Developing An Authentic Holistic Well-Being Routine For Career Professionals Workbook today!
2. Set Your Own Schedule
You are your boss; you can decide when you work as a self-employed business owner. You are not bound by a contract to any particular start time, so you are free to report to work whenever you like. The option to take breaks whenever they are required is one of the benefits of owning your own company, which may be helpful when trying to maintain a healthy work-family balance.
However, a self-employed entrepreneur must manage time properly and be disciplined to manage a successful business. From my experience as a freelancer, I can say even though the nature of the business always affords a degree of freedom that is very much sought, it is much more important to keep your expectations in check and don't give yourself an excessive number of vacations or breaks.
Need Help With Your Job Search?
Enroll in our online course, Find a Job Fast: The Job Search Accelerator For Career Professionals
3. No Limitations To What You Could Financially Build
If you have a job, your income is controlled, and you have the potential to earn more throughout your working life via professional progression and compensation increases. However, there is always a limit on what can be done.
When you are self-employed, this restriction is determined by your activities. You can achieve your goal of making one million dollars in one year if you work hard enough. All that is required of you is to put in the appropriate amount of effort and to take the appropriate actions.
Whether or not you are willing to face these challenges is something that each individual who works for themselves must determine.
4. Ability To Decide Who Works For You
As your company expands, you will have the opportunity to evaluate whether or not to increase the size of your team. If you own your own business, you have the freedom to hire employees whose beliefs and work ethics are congruent with your own.
Choosing who you collaborate with may make several different job procedures more fun, improve the process of working with others, and boost overall productivity. As an employer, having the ability to decide the need of your business and prescribing capable hands for the job is one nice thing.
If you want, you can work with interns who will learn on the job with low or no financial implications, and you might decide you want a full-time, remote, or freelance worker for openings in your business.
5. Making Important Connections
In conventional office settings, you often spend each day collaborating with a group of coworkers. When you work for yourself, it is up to you to build your professional network and maintain the contacts you have already established. When you network with other company owners, you may find possibilities to work together, which might lead to forming partnerships.
When you establish these relationships, you open the door to the possibility of meeting folks with similar perspectives and years of experience who can provide advice on how to expand your company. Additionally, you have the opportunity to build direct lines of contact with your clients and interact with them in meaningful ways via the use of these channels.
6. To Be YOU!
Is there anything better than being exactly who you are/your authentic self at work? Considering we spend 40+ hours a week at work, it’s really hard to be anything but YOU at work but it’s a major factor when employees are considering leaving unhappy work environments.
When working for yourself, you get the chance to work the way that’s best for you and you get to be your best self. And as a business owner, that’s the best way to run a business authentically and honestly where customers will want to work with you!
Related:
Meet The Writer!
Hi there, Favour here! I am a creative freelancer with a great wealth of experience as a content writer, copywriter and a graphics designer. I have worked with different individuals, businesses and organizations mostly in the freelancing space. I have a personal goal of adding value to companies and brands with my professional skills. For me, work is synonymous with creativity. It doesn’t matter whether I'm creating content or working on designs, I believe in giving my best efforts to tasks at hand. I also enjoy photography (check my Instagram) and exploring new places. Why not connect with me via LinkedIn? I'm waiting :)
