What does being self-employed mean? It means that you work as an independent contractor or sole proprietor instead of working for a specific company with a fixed salary.
Being self-employed also means that you determine your working hours and that you also earn and report your own income. This way of working has always existed, but it has become more popular in the past few years, especially since the COVID-19 pandemic began.
However, being able to determine your own wages and schedule are not the only perks of being self-employed. These are only a few of the many benefits that come from working on your own. For those who are not fans of an endless routine, independence, control, and freedom from always doing the same thing also go hand in hand with self-employment.
Plus, you may also get higher monetary rewards by being self-employed. Many companies are willing to pay more to an independent contractor if that means they don’t have to make a long-term commitment with an employee, which comes along with benefits, unemployment compensation, pensions, sick days, and more.
Is self-employment right for you?
As occurs with everything in life, self-employment is not for everyone. A self-employed individual runs their own business and holds sole responsibility for its success or failure.
Also, not every profession works for self-employment. Some common jobs are: actor, account technician, chiropractor, barrister, dentist, construction manager, financial advisor, illustrator, journalist, designer, life coach, musician, private tutor, photographer, make-up artist, sports coach, and writer.
The good news is that you can be both employed and self-employed simultaneously. Many people have employment during the day and work on their own projects at night or on weekends.
Take into consideration that being self-employed does not come with the benefits that regular employment has, such as sick leave and pay, maternity and paternity leave, holiday entitlement, and more.
7 benefits of being self-employed
As we have explained, there are many benefits to self-employment. We will explain more of them in detail below.
You are in control
One of the most significant benefits of being a self-employed person is that you control every single aspect of your company. From structuring the work environment to who you want to do business with, everything falls into your hands, and it is you and only you who makes the final decision.
Additionally, you don’t have to report to anyone else, follow preexisting rules and policies, or having to discuss any of these with anyone because you will be able to make any related decision yourself. As a self-employed individual, you have the freedom to create your schedule according to the work-life balance goals you want.
Do work that you really feel passionate about
When you are freelancing or starting your own company, you have the opportunity to do work that really interests you. You can turn your hobby and passion into a business, and it’s a way to make money by doing what you love the most.
Also, when you work for an employer, your ideas may not seem attractive to them because they don’t share the same vision or passion you have, or they want to take another route.
You can create your own schedule
Do you like to sleep in late and are more active and productive during the evenings? If so, you will probably benefit from a schedule that begins by mid-morning or afternoon. Or, perhaps you are an early bird and are more active right at dawn, plus you like to finish your duties early so you can do other things; then, you may benefit from working in the mornings and taking the afternoons off.
This flexibility that comes with self-employment allows you not only to decide how much work to get done and when but also how many hours you want to spend building your business. And what about vacations? Take them whenever you want to. You don’t need to request them and wait for the approval.
Choose who you want to work with
As your business grows, you will likely have to expand your team. The good thing about being self-employed is that you decide who your coworkers will be. Therefore, you are free to choose people whose work ethic aligns with yours and have an enjoyable working environment as a result.
It is like having friends as coworkers and people who understand where you’re coming from when decisions are made.
There is the freedom to create your business as you prefer
Being in control of your own business, you have the ability to be as creative as you like, which may not occur when you are working for an employer. As a self-employed person, you can shape each aspect of it as you’d like. Your mission, vision, values, policies, standards, and more are all up to what you want.
But also, being self-employed allows you to design your products or services according to what you want and need, exactly the way you want them.
Work wherever you want
Do you feel like working from home today? No worries! You can, because you’re your own boss! How about taking a trip abroad and continuing to work from where you are in the world? Yes, you also can because a self-employed professional can decide where they want to work. You can rent office space, work from home, or wherever you travel to.
Plus, if there’s a day you want to take some time off to run errands, rest, or spend time with your loved ones. Guess what? You can, and you don’t need to ask anyone for permission!
Learn new abilities
When you are self-employed, you need to learn new abilities since you will have to oversee marketing, finances, customer acquisition, and other aspects of running a business. It can feel overwhelming sometimes, but it is an immersive learning experience that can improve your professional life.
This is knowledge that will be beneficial to have no matter what job you do or what new projects you decide to embark on.
If you are self-employed or considering becoming one, head to our website. At Ulin Consulting, we help startups and entrepreneurs thrive.
Read more: https://letsceo.com/ulin-consulting-excited-to-announce-partnership-with-apollo-io/
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