There are a lot myths out there concerning the self-employed lifestyle, some of which you might be buying into yourself as you contemplate a career without a boss and working in your slippers. It’s time to set you straight.No Boss!
You wish! Thought your boss was bad in your previous job? Well, at least you knew their wants, needs and idiosyncrasies; which made it easy for you to deliver what they wanted.
When you become self-employed, most likely you will have several bosses, each coming with their own wants, needs and idiosyncrasies not to mention deadlines. Good luck with juggling that, it can get tough sometimes.
When you’re self-employed, if you don’t work, you literally don’t eat or meet the rent. Sweat that one for a few. At a “regular” job, you could afford to coast a bit if you weren’t feeling “into it” that day and not see any reduction in your pay. You can’t do that if you’re freelancing. If you lose a client, that’s a chunk of pay you’re going to have to make up somewhere, either from a new client or from taking on more work from another.
Also, you can probably kiss the regularity of a 9-to-5 day good bye, especially if you work in information technology, writing or graphic design. That’s because, thanks to the Internet and digital technology, you are going to have clients from all over the world. It wouldn’t be an unusual thing to start your day at 3 a.m and end at 10 p.m.
Your benefits are what you make them. Unless you’re lucky enough to land a part-time job that comes with at least health and dental, or are married to someone who can cover you, you’re going to have to provide them yourself. The same holds true for any investment vehicles, 401ks, pension plans, etc. You have to provide for these yourself too.
We don’t mean to discourage you, but these are just some important things to think about just in case you’re looking over the fence at all the green grass.