Self employment is a luring prospect for many. Some people want to start their own companies to satisfy a life long dream. Others expect much bigger money if compare to their standard earnings and there are also some to whom the freedom is the main reason for going solo.
Unfortunately, in spite of so many great stories around the web, the reality of a self employed person is quite different. Of course, to me, the pros outweigh the cons but before you go off to start your business, read on, there might be some food for thought for you in this post.
Top 3 Self Employment Misconceptions
1. People Respect Your Hard Work
In a typical employment, you are rewarded for working hard. You put up long hours, you get paid overtime. Maybe you will be noticed and get a promotion, pay rise and more.
When you work for yourself though, you are expected to work harder than ever. No one will pay you for that. There will be no promotion and you won’t even earn a reorder this way. Really hard work is a normal state in self employment.
2. You Will Make Tons of Money
It is a little known fact that self employed people make very little money. Sure, some become really successful and then their bank accounts fill in with cash. But for the majority, it is a constant struggle.
No steady paycheck, no security, even inability to budget properly. You don’t know where the next job will come from, and when it does, you always spend more time on it than it is worth. Add to that all the work that you have to do but are not paid for, and you get the real picture of the self employment earnings.
3. You Can Work Whenever You Feel Like to.
This is in fact the most common self employment misconception. As a self employed person, you work when you have work. And you know that you can’t miss the deadline. Day, night, holidays or anything else, you work because your pay relies on this. There is no other way.
It is a quite common situation to see a family enjoying their holidays while the father stays back at the hotel as he has to look after his business.
The trouble is, for me, self employment is still the best way to live. And, if you are not discouraged by what I wrote above, it means that it is for your too.
Thomas offers self employment advice through his Business How To site and provides newcomers in business with small business advice.