Becoming self-employed

When it comes to career opportunities, scores of you opt for self-employment. How to be self-employed consists of five ingredients for success. In order to have what it takes to be successful doing your own thing, you need to possess all five ingredients.

  1. You need patience. It can take up to a year and more before you begin to generate income during self-employment.
  2. You need to be in good health. If you become ill, who’s going to do the work? Besides, your income will come to a screeching halt until you’re well enough to resume work. When you’re the boss, the buck stops with you.
  3. You need energy. Lots of energy. I think this is the most important ingredient of all for success because self-employment means you wear all hats: you sell, write, and keep the books. Until your business grows and you can delegate those tasks, you do the work of all departments formerly done by others who were also employed at the company where you worked.
  4. You need to be the kind of person who loves to keep learning. That probably means keeping up with and learning new technologies that are ever changing in today’s world of work. Of course you’ll also learn from your mistakes. That’s the hardest part of becoming self-employed.

The process of education never stops. Continuing education helps your freelance business grow and helps the employed keep their jobs longer.

  1. And you need the support of your family. When it comes to self- employment ideas, family support is vital because leaving the security of a regular job and paycheck affects your family. You’ll need to know if they are also willing to make sacrifices. Unless you have the family’s support, becoming self-employed will be difficult to cope with over the long haul.

So before taking the big leap from employment to self-employment, review the five ingredients for success just mentioned. Then determine if you have what it takes to be self-employed.

You might also be interested in How to Get Freelance Work, Find a Part Time Job, and How to Find freelance Work.

Copyright © 2015 by Randy Place

About the Author

RANDY PLACE IS A JOB-FINDING and executive coach, writer on career topics, broadcaster, and host of For twenty-three years, he helped thousands of employees who had been let go from JPMorgan Chase find jobs. And he coached executives at CBS Television, Pitney Bowes, and major outplacement firms in New York on job-finding techniques, communications skills, and selling strategies. An accomplished seminar leader and speaker, Randy has designed and presented workshops on interviewing, telephoning techniques, job-search writing, and sales training nationwide. Randy's groundbreaking nationally syndicated radio series, Your Career Service, has been heard on over two hundred radio stations across the United States. And his articles on career topics have appeared in the Wall Street Journal's National Business Employment Weekly. A former broadcast journalist in New York, he has also been a commercial spokesperson for an array of national and regional advertisers. In addition, Randy was a sales executive at NBC Radio and the New York City sales manager for syndication at Wolper Productions. He holds a Bachelor's in Sociology and Broadcasting from Syracuse University, and a Master's in Journalism from New York University.