How to Know if Self-Employment is Right for You

The perks of being self-employed are certainly enticing. While it comes with financial security risks, it is everybody’s dream to be their own boss. Many people daydream about quitting their job and making that leap to self-employment for countless reasons. It could be an incompetent boss, coworkers that you cannot stand, frustration of not having your ideas or a annoyance with the status quo. Whatever the case may be, you know that you are ready for change.

Although self-employment is not for everybody, there are clear similarities between those that have been successful at doing something on their own. If any of these characteristics sound like your personality, then maybe it is time you stop daydreaming and finally make the leap to self-employment.

  1. You want flexibility in your schedule – Everybody wants a more flexible schedule, but the person cut out for self-employment is the one who understands that a flexible schedule will also usually mean a longer work day. There are tradeoffs between a typical workday and what you will get as a self-employed worker. While you have the option to take an afternoon off on a nice day, you will probably not be able to take a long vacation anymore. As a self-starter, you can make your own schedule. But it is important to remember, that time not working is time not paid. You must be able to appreciate this and be willing to embrace it in order to make it on your own.
  2. You want more control over your ideas/ leader – If you are a born leader who is a control freak with a Type-A personality, then you probably cannot stand having to run every idea past your boss before proceeding. However, as a self-employed person, you make the rules and you call the shots. If you are comfortable making decisions and can hold yourself accountable then self-employment will certainly sound better than than a normal job.

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    Is self-employment right for you? (Photo: Getty Images)

  3. You have a passion for what you do – If you want to make it on your own then it is important to have passion for what you are doing. When you care about the work you are doing and truly enjoy it, work will not feel like work. The self-employed thrive on the eagerness and vigor of their own work. If you do not have the passion, you will most likely burn out and become discouraged.
  4. You have a support system – While being self-employed gives you the freedom from your boss and substandard co-workers, working alone can become lonely. It is important to have friends and family that you can turn to for advice and help. Your support system needs to people that support your decision to be self-employed and will encourage you to stick with your plan, especially when you start to doubt yourself.
  5. You have self discipline – If you are going to succeed at self employment, then you are the type of person that does not need anyone else to tell you what to do. You not only take initiative but you are eager to get something done. This involves effective time management, proactiveness and an ability to say no to distractions. If you screw around and avoid doing work, then you will not be successful and you will not get paid. You need self discipline.
  6. You are resourceful – As your own boss you will be responsible for all areas of a typical business. This includes sales, finances, taxes, legal issues, accounting and various problems that could arise. You need to be able to juggle multiple tasks efficiently and you should be enthusiastic about taking on all of this responsibility. A successful self-employed person needs to have the ability to think for themselves and solve problems on their own.