Saturday, March 6, 2010

Are You Ready To Become Self Employed?

If you are interested in starting a business, or taking over
one, you face a daunting task that carries a level of risk and
excitement not possible in the 'employee' world. This forces you
to consider are you ready to become self employed?

If the financial independence of self-employment appeals to you
- no boss, no income limits as to time and wage, and the ability
to let your personal drive determine your compensation - then
you will no doubt be eagerly going over the many options
available to release you from your current job.

However, the rush of financial excitement must be tempered by
the necessary cost of time, money and effort in properly setting
yourself up independently.

Despite income claims made by business opportunity companies, or
competing businesses, you must be ready to accept the reality of
not seeing personal income for several months - or even years.

Becoming self employed on the side, while keeping regular
employment as your financial security, is a wise method of
ensuring your income.

Another option is to have substantial savings that permit you
the freedom to pursue your dreams unencumbered with other
employment. However, the savings must also be capable of
carrying the costs of developing a business along with providing
for your material needs.

Do you also recognize the time it takes when you become self
employed? In some ways it is almost unnecessary to bring up the
point since your passion will likely drive you to spend many
hours in your pursuits. If you have other obligations; family,
job, social etc. then you will have to consider if you CAN
devote the time needed to get your business off the ground.

Having discussed both money and time, you must recognize that
there is much more effort extended BEFORE a business is
profitable than at any other time in your business. Yes, once
you are getting work and are satisfied with the income level you
may be very busy indeed but you will then be compensated for it.
When you are still cultivating your business - marketing, doing
free jobs, searching for clients and customers - you may not be
seeing any income, or a very meager one, which makes your
EFFORTS seem immense.

Do not falter! If you come to the point when you are working
your hardest and doing everything your business requires but
still not seeing monetary results, you may hit a psychological
wall. This is where truly entrepreneurial individuals see an
obstacle to overcome as opposed to a dead-end to their hard
work. Passion for their work and the strong desire to work for
themselves overcomes any perceived barriers and moves them to
keep going and ultimately becoming very successful.

By persevering you will certainly see the fine fruits of your
labors and prove to yourself and others that the benefits of
becoming self employed far outweigh the mediocre status quo of
the typical worker's daily grind.

By Jeff Schuman

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