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Sick of Working For Others, Consider Self Employment

Aug 17, 2007
Want To Work At Home? One of the most natural ideas if to become self employed.

Do you dream of skipping the endless commute to work every day ... I know that giving up the 2 hour each way commute to work every day was a dream come true!

Do wish you did not have to put up with your boss who would be lost without you ... don't even ask me about this one.

If you answered yes, you might have what it takes to become self employed.

Consider the ultimate perk of being at home with your family during the times they might need you, such as after school and at meal time. You can use big chunks of time for your work when all have flown the nest during the day to go to school.

If all this sounds appealing, then you simply owe it to yourself to look into the possibility of self employment.

There are different ways to go about achieving your goal. The road to self employment may be less traveled but it is nonetheless enticing. Yet before you bid your boss farewell, make sure you have what it takes to turn a dream into a profitable reality.

First and foremost, you must remember that you will no longer be able to look to a second party to hand you a guaranteed check every other week. Also remember it takes time to build up a business so you might be waiting for contracts or checks to come in.

Take a hard look at your current financial situation before making a leap. If you are heavily bogged down with credit cards bills, mortgage and car payments, and if your children attend private school, you will need to make sure you have enough money in savings to support yourself for at least year, so that you can give yourself ample time to pursue your dream while keeping up with your obligations.

Secondly, remember that you are setting yourself up as a business. As a result, you are not only the provider of the service or products, but you yourself are the figurehead, spokesperson, and image of the very business upon which you are embarking. That means, if an issue of liability arises, the customer or client will look to you for help and if needed compensation or a refund. You need to be very clear with customers about what you are providing and what the return policies are (in the event of a sales position.)

Depending on your business and the industry you are in, you should examine the possibilities of incorporating the business. This protects you, and your family from any legal threats that could be leveled against you (either rightly or wrongly) by a client.

For anyone desiring self-employment it is a good idea to invest a bit of money in one or two hours of a small business lawyer's time to find out exactly where you stand. This step may save you a lot of money and grief in the long run.
About the Author
Jennifer Lavoie is a home-based business coach. Using Robert Kiyosaki's teaching, she helping others to build passive income businesses and retire early and free. http://www.retirefree.ws
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