Are You Cut Out For Self-Employment?

As so many of us face job cuts, the idea of having a small business, especially one that you can run from your spare room on your computer, is very tempting.But are you cut out for working on your own?Many people like the idea of being in charge, with no boss to answer to, but there is a downside to self-employment. For some, part of being employed is the social aspect of work, chatting to coworkers during lunch or tea break and socializing after hours.And then there is the question of discipline – can you sit down in front of the computer and put in an eight hour day, even if you don’t feel like it? And keep on doing this, even if you don’t see the profits coming in for a while?The best way to find out is to test yourself. And it’s also the safest way to get started if you don’t have a stash of cash to keep you afloat.The first step, as in all businesses, is to do your research to find out exactly what the business involves and to work out a business plan.Then you can start out by working in the evenings or weekends. Set aside a specific amount of time each week and see if you can stick to it. Or do you find yourself switching on the TV or giving in to the invitation to go to the pub?Can you keep your eye on the goal when the going gets tough? It can be very discouraging when things go wrong or take longer than you had anticipated. This is inevitable when you are working for yourself and although these things can and do happen in a job, at least then you don’t always have the responsibility of sorting them out. And even if you do, you will be able to troubleshoot with other people. At home, it’s up to you to sort out everything on your own.If you are sick or take a holiday, you will get paid if you are employed. If you are self employed, you won’t. and in a job, you’ll have a job description, whereas as self-employed, you won’t – you’ll have to do everything yourself until you can afford to pay someone else.However, the long term aim of personal and financial freedom should make all of this worth it. If you don’t feel that it does, perhaps self-employment is not for you. And it’s better to know that you aren’t cut out for self-employment before you put a lot of time and energy into a business.

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