Being self-employed or starting a business is very common dream.  It’s a romantic idea: no boss, no set hours, increased time and money, etc.  The reality is that being self-employed takes a lot of work.  You might not like working 8 hours per day at your regular job, but if you start your own business you might find yourself working 12 hours per day.

There are many benefits to being self-employed, though.  Despite the hard work, you do get a sense of fulfillment by running the business yourself instead of reporting to a boss.  Here’s a list of several benefits of being self-employed.

  • You are your own boss. You control what you work on and when.  You can make your own hours and be more flexible with vacations and time off.  You can choose where you work and set your own dress code.
  • You get all the rewards. You earn all the profits yourself.  When you do a good job, there’s no boss above you to take credit for your hard work.  You can build your own reputation and image.
  • Job security. Business owners have to weather economic storms like everyone else, but at least they don’t have to worry about layoffs or their bosses firing them at any time for no good reason.
  • Personal fulfillment. You can enjoy what you do.  You can take pride in owning your own business.  You can find ways to turn your passions into income, rather than doing unpleasant work just “to pay the mortgage.”
  • Wide variety of skills to master. If you love learning new skills, you’ll love being self-employed.  When you’re self-employed, you are in control of every single aspect of your business.  You’ll have to learn budgeting, marketing, legal aspects, taxes, insurance…the list goes on and on.  This is a great perk if you love learning.
  • Unlimited earning potential. Instead of trading hours for dollars with a set salary, entrepreneurs and self-employed people can establish systems for earning money even when they’re not working.  Your income is dependent on how much work you put in and how much value you deliver to customers.
  • You are in control of your success. No one can hold you back or boost you up.  No one can take credit for your work or talk bad about you behind your back.  Your success depends entirely on you.  The harder you work, the more successful you will become.

Did I leave anything out?  I’d love to hear what you think, so please post a comment below!