The advantages of being self-employed are vast, yet it is an essential part of the small business environment. There are many reasons to be a self-employed individual.
Self-employed individuals can be your own boss and make as much money as you want, but you have to be dedicated to the work and willing to take the action necessary to get results. A person can be as well off as he or she wants and still have a lot of self-employment disadvantages, but a person who has built a business in this sector will have fewer disadvantages than someone who had not been established yet.
One of the reasons for these disadvantages is the lack of experience, which is the first hurdle in a small business opportunity. Having experience is a very good advantage, because you will be able to look over the work that you do and see if what you are doing is how to do it. If you are looking at something like getting insurance for your home, for example, you will be able to tell the difference between what is appropriate and what is not.
As one gets more comfortable with the business they are in, the advantages of being self employed increase. Your skills will be evident, and you will begin to gain knowledge of how to get things done.
The reasons for disadvantages that self-employed individuals face in the start of their business are similar to the reasons why others have their ups and downs. You may have problems getting a lot of clients, for example, or there may be too many headaches getting a client, or just not enough.
The advantages of being self-employed include having the freedom to go to where you want, to eat what you want, and to enjoy life when you want. The self employed person can be whoever they want to be, without having to look over their shoulder at what everyone else does.
Self-employed people can enjoy the freedom of being their own boss and not being confined to a set schedule, no matter how demanding it may be. They can set their own hours and make up any mistakes that they may make, without facing the wrath of a supervisor.
The advantages of being self-employed can also include having an employer who will give a percentage of their profits back to them. This can be a great advantage because it can keep them motivated.
One of the disadvantages of this type of business is that the need for large amounts of equipment, and possibly more than one location, are a necessity. Also, the cost of paying employees for one or two locations may be high, unless they already have employees who work from home.
Another disadvantage is that the people who work for you may be your friends, your children, or another person who you do not want to work for you. Also, it is hard to control who sees what when it comes to dealing with potential customers.
It can be very beneficial to those who desire to become self employed, because they can build a business and earn a lot of extra income. They will have a personal and professional support system that they can rely on, and they will have a sense of accomplishment, which cannot be duplicated in other jobs.
Anyone who wants to make the most of the advantages of being self-employed will need to find their niche. It may be something they love, and something they feel they are good at.