Being accepted in a job is something worth celebrating as it puts you in a position to have a steady flow of income. The only problem with this is that you have limited control and you may never know when you will lose it. Of course, it depends on what type of job and where you apply, but you’ll always be under someone and pressure may arise over time depending on the events that follow.

Losing a job is painful indeed, but fear not because it isn’t really the end of the world. Failure in your job can actually be an open opportunity to be your own boss and become self-employed. If you think you are an expert in your profession despite losing your job, you can try becoming a freelancer so you can offer directly your services to people that need you most.

If it’s a break you need, maybe you can do something relaxing like doing some online paid survey sidelines or trying some data entry work from home. There are plenty of advantages in becoming self-employed as opposed to working under superiors. These advantages vary depending on the person and startup method.

Pros

- You can decide your working schedule and make adjustments when necessary.

- You can get 100% of the profits you make because you are the head of your own business.

- More entertaining than assigned jobs because you handle all aspects of the business, not just one.

- Serves as a good milestone that you are making progress independently, that can create a positive mindset and achieve goals more efficiently.

- You can put your best strengths to use while enjoying at the same time.

- You can set the objectives of your business and choose which direction it is heading.

- You work in your own comfortable environment such as your home.

Self-employment is definitely for everyone, but it is not something anyone can pick up right away. People who are new to self-employment may need to do some studying and decision making to override some of the disadvantages in becoming self-employed.

Cons

- Handling all the parts of your business means more work for you. This can be fixed if you can hire other people to do the tasks that you are not good such as bookkeeping etc.

- Poor decision making can lead to problems in which only you can be blamed. Careful studying or seeking of professional advisors can solve this problem. Partnering with someone can help too if the person is trusted.

- It’s a tough road if you don’t have many acquaintances. It will be you to build your image and make relationships with the clients as well as serve their needs. This is a notable issue to freelancers.

- It may have an impact on your lifestyle if the schedule is too variable. A good way to overcome that is to set a fixed schedule that is balanced. Remember you have full control of your schedule when you are self-employed.

Don’t be discouraged with the disadvantages. If you are jobless and want to exercise your skills, give self-employment a test run and see if you can go anywhere from there so you can sustain some income without any dependence from others.

posted by Chris Simpson