8 Myths About Self-Employment

Do you dream of being self-employed, but feel like you don’t have the money, knowledge, or skills to get a business going? Your concerns might be unfounded – and grounded in some of the common myths about self-employment.

Imagine being able to increase your income and have a more flexible schedule. These benefits are a real possibility when you’re your own boss.

So let’s starting exposing the myths for what they really are:

1. Self-employed means working long hours. Many people who work for themselves do work long hours, but this is frequently a choice. They simply love what they do. You will know what level of time commitment it will take be productive and effective, and you will be in control of hours you work.
2. Being an employee is less risky. Employees get laid off all the time. And what if you need to raise some extra cash quickly? That’s tough to do when you’re working for someone else and your income is fixed. Being self-employed gives you more control over your income and the assets of the business. Control helps to reduce risk.
3. Self-employment means putting all your eggs in one basket. If you’re an employee, the main customer you have to please is your boss. If that customer is not satisfied with your services, you risk losing all the eggs in that basket. But if you have many customers or clients, and there is one you are not able to satisfy, you have lost one egg. Having many customers spreads out your risk of loss. You would have to displease all your customers to lose all your eggs.
4. Self-employment equals stress. When you work for yourself, you can create whatever work environment you choose, you can have greater stability over the long-term, and you have more control over your hours. You also have the ability to choose a line of work according to whatever level of stress you find acceptable.
5. Being self-employed is lonely. Actually, working for yourself can be a much more sociable lifestyle, if you choose. With more flexibility, you can often rearrange your schedule to suit your social life. Make friends at trade-related events and meetings. When you work for someone else your co-workers tend to be your social life and over time that can get old.
6. Self-employment means doing everything yourself. It depends on the type of work you choose whether or not this is a burden. While you’re the one that has to ensure that everything gets done, some careers where you are providing professional services can be done without a large team of people. And if in fact your business will require a workforce, you will be hiring others to get the work done.
7. Running your own business is complicated. Yes, there is quite a bit to know, but none of it is complicated. There are books and experts available to help you along the way. Nothing is overly complex about insurance, payroll, taxes, and bookkeeping. It’s just new to you. This can be an invigorating adventure when you have shifted to depending on yourself and your own drive, skills and ability for your income. Seek out expert advice before you take the leap to ensure you are prepared as best you can be.
8. You can’t start a business without a lot of money. That largely depends on the type of business. A website and hosting can cost less than $100 a year. Your home phone or cell phone is already paid for as part of your monthly expenses. A tank of gas isn’t that expensive, relatively. Utilize free advertising or exchange services to advertise through someone else’s active network. Hit the pavement to drum up leads for new clients.

Don’t let a bunch of myths stop you from taking the plunge to self-employment. You can even start a business on the side and continue working your regular job until your new business is bringing in enough income to replace it. If you are considering making the leap to self-employment, and you want to use your knowledge and experience to help others break out of life controlling cycles, a career as a Professional Recovery Coach might be something to consider.

For more information on how you can build a satisfying and profitable Career as a Professional Recovery Coach sign up here for our next webinar. http://ift.tt/1QUTN32