So, is being self-employed easy? Let’s find out…

One of the main reasons many individuals want to be self-employed is that they don’t want to be dependent on a job. Some take the route of being self-employed to work whenever and wherever they want.

For some it is all about having “freedom”. But there are many others who who wouldn’t dare quit their job.

Are you wondering if being self-employed will always be easy?

In a simple answer, No. Definitely not. Being self-employed means being able to afford to live without having a regular income (a salary). It all falls down to whether you will earn or have enough money or not. You have to be motivated each and every day – because if you’re having a “day off” ( being lazy or not feeling well), you won’t be earning any money. And when you’re self employed, no one else is going to motivate you.

The first step is going to be a tough choice. You have to believe that the product or service that you are going to be providing will be better than others that are already available. You have to have self-belief that you can do it. You have to be committed to what you are doing. And, of course, you need to be dedicated.

What sacrifices need to be made?

You’re going to have to sacrifice your personal time. You have to accept the fact that you are going to be working for a few years like no one else would do. In the early days, this will not necessarily seem like work though, because you will be enjoying your new found energy and passion for being self-employed. Some self-employed individuals may work harder than they used to as an employee. Some people are happy and content working their 9-5 job but that isn’t for everyone. Many will sacrifice going for a night out, or family time, or treats to remain focused on delivering their product or service and maintaining their self-employed life. Put in the time and effort in the early days and you will be able to reap the rewards later.

This reminds me of an image of a guy standing by his Lamborghini saying to an employee, “If you work hard, put in the effort and increase the revenue for the business,… I can buy another one of these.”

So why take the plunge to become self employed?

Like the story of the business owner and the employee (above), some don’t want to work hard for others to reap the rewards. So they take the risk of setting up as self-employed to reap the benefits themselves.

Many self-employed individuals have not regretted their decision either. It’s been tough at times but they love being self-employed and working for no one else but for themselves.

It doesn’t mean that you’ll be driving flash sports cars and own all the luxuries available but if you work hard and put in the time and dedication to your own business, you can make a success of your business. There are also many advisers and consultants that you can discuss your plans with. It’s always sensible to speak with an accountant and we would be happy to discuss your plans, to see if we can be of assistance.

 

Don’t forget, if your dreams are big enough and you are strong willed, nothing will stop you from being successful.

 

So, is being self-employed easy? No, it is not – but it is very worthwhile.

Rob Huntley

Media and Marketing at Maze Accountants
Rob joined the team at Maze in August 2016. His primary duties are to write and update content for the website and to manage the social media channels. Rob is married with two children, so doesn't have much spare time!

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