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Why be self-employed?
Filed Under (Valued Bookmarks) by willowdan on 25-03-2009
It was about a decade ago when I grabbed that opportunity to make myself known as an able internet teacher. I was then conducting tutorials on the side of being a fulltime college student. That was a quickly concieved program by the internet cafe owner to tap my internet/surfing skills. In a week of no advertising, I immediately had my first student, an elderly Filipina who was then on vacation with her whole family from Brunei. The lessons were spread over a week or two on learning basic emailing, and surfing. I knew I was self emplployed then. Second time I felt that self-employment luck struck me was when an elementary school entrusted me of building a database management system made from MS Access.
Self employment is an attractive option for people who believe that they have what it takes to be their own bosses. Knowledge or Skills-in-demand, strong sense of self confidence, self discipline, excellent time management skills and good contacts are all essential for a self-employed person to be successful. If we have majority of those mntioned, let’s be self-employed individuals.
Though, self-employment will never mean less worries, or smooth- sailing journey towards our goals, it will not even mean greater rewards for less sacrifice. It will never mean shorter working hours. It by no way guarantees success. It requires the need for the person to take complete responsibility for his/her own success or failure. It is also important to remember that no matter how good the product and demand for the same and no matter how committed and disciplined the self-employed person, the business could still fail due to extraneous circumstances like competition that introduces a better or cheaper product.
Hence, in case we decided on being self-employed based on the criteria above, we may eventually realize that not all persons are fit to be self-employed, not all persons can be successfully self-employed. It is a decision to be taken with care or else the self-employed person could fail miserably. The following are some of the deeper traits that a self-employed person must have:
1. Ambition and Drive: This is the most important among all the traits. An internal drive that causes a person to continuously strive for success amidst countless challenges that may abound along the way.
2. Self Confidence: The person should have confidence in his/her product and the ability to sell the same. Presentation skills are essential for convincing a person to spend their time and money on your product/service, rather than on one offered by competition.
3. Specific knowledge in a niche market: As I look back, specifc knowledge for a niche market was a key factor why I gained the opportunities in those earlier projects. I cannot stress this point enough, as I was doing my own research, learning Visual Basic the fastest way possible was hard then, I was grateful there were books provided for me, else those could have caused me to shell out few thousands of pesos.
Following are possible reasons why one rather be self-employed:
1. You can be trained to get along well with all types of people. Being self-employed is all about managing relationships — with your clients or customers, your suppliers, perhaps with your employees, certainly with your family, and probably with your banker, lawyer, and accountant, too.
2. You get to be a disciplined self-starter. Being self-employed means that you’re your own boss. There may be days when you’ll have to make yourself sit at your desk instead of going for a long lunch, or (especially if you work out of your home) place those business calls instead of reading the newspaper.
3. You will get to wear many hats. Depending on your line of work, you may be involved in handling marketing and sales duties, financial planning and accounting responsibilities, administrative and personnel management chores–or all of the above.
4. Get to do what you love. Your dream come true! Think about how great it will feel to get paid to do what you’d love to do anyway. If you’re working for yourself, chances are you’ll be doing work that you enjoy. You’ll get to pick who you’ll work for or with, and in most cases you’ll work with your customers or clients directly–no go-betweens muddying the waters. As a result, you may have days when it hardly feels as if you’re working at all. Such harmony between your working life and the rest of your life is what attracted you to self-employment in the first place.
5. Opportunity to be a good Boss. Being your own boss means that you’ll be in control of all of the decisions affecting your working life. You’ll decide on your business plan, your quality assurance procedures, your pricing and marketing strategies–everything. You’ll have job security; you can’t be fired for doing things your way. As you perform a variety of tasks related to your work, you’ll learn new skills and broaden your abilities.
6. You can dictate your own time. You’ll even have the flexibility to decide your own hours of operation, working conditions, and business location. If you’re working out of your home, your start-up costs may be reduced. You’ll also experience lower operating costs; after all, you’ll be paying for the rent and utilities anyway. If the location of your work isn’t important (perhaps you’re a freelance writer or a consultant), you can live wherever you want. At any rate, if you work at home, you’ll greatly reduce your daily commuting time and expense.
If all goes well and you’re making money, chances are you can make more than you did working for someone else. And since you’re working for yourself, you may not have to share the proceeds with anyone else. The fruits of your labor will be all yours, because you own the vineyard.
If you can work long and hard, tolerate risk and stress, cope well with potential disaster and failure, and work well alone and with others, then perhaps self-employment is right for you.
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