The Advantages of Being Self Employed
There are several advantages of being self employed, although you have to be careful that you avoid the pitfalls that could set you back. Before having a close look at the latter, let’s first discuss these advantages which are the reasons for many people deciding to work for themselves.
1. No Fixed Pay Rate
When you are employed your pay is fixed, and while some may think this is preferred since it enables them to plan their expenditure, it is not the way to attain great wealth. One of the greatest advantages of being self employed is that your earnings are in your own hands, and it is easier for you to earn income for yourself.
… top end income is is unlimited.
When you have so much work that you cannot work any more hours, you can subcontract and still make money without doing the work yourself. Some argue that being self employed by working online is different, but why? You still work the hours you want to work, and the harder you work the more you can earn. You can still subcontract by outsourcing a great deal of the work involved in running an online business. The top end income is is unlimited … a regular job is limited by the number of hours you put in.
2. Work Your Own Hours
… take your vacations when it suits you.
If one of your family is sick you can look after them without asking your boss for time off. If you have an emergency at home, then you can handle it without worrying about your job. You can work your own hours and if you work better at night, then you can work at night. You have total flexibility in when you work and when you rest and this can lead to more income due to you working when you feel at your best. You can also take your vacations when it suits you.
3. Profitable Tax Breaks
Any travel you make when self employed is tax deductible. The same is true of many other forms of expenditure. Buy a new car – deduct it. Telephone, computer and utility expenses – deduct them. If you need a loan for your business then you can also deduct the interest on that, along with many other tax concessions the self employed are allowed. Clothing, education and training, software, hardware – all deductible. You benefit – not somebody else.
4. Your Skills Earn You Money – Nobody Else
Pay yourself for your own ideas!
If you have ever had a great idea that earned your employer a fortune, you will understand the frustration of being underpaid for the wealth you bring into your company. By working for yourself you get everything you earn: have a great idea and you benefit financially, not the business you work for as an employee. Of all the advantages of being self employed, many believe that this is the best. Pay yourself for your own ideas!
Not only that, but all the decisions to be made are yours, and you can stand or fall on your skills or mistakes, not those of somebody else that you have no control over.
Working From Home
Being self employed doesn’t necessarily mean you work from home, and many people who are their own bosses see their family even less than when they were an employee. However, by working from home online and being self employed, you get the best of both. Here are some advantages of an online home business
- When you work from home you can get up, have breakfast and start work with no driving through the traffic jams and suffering all that rain and snow as you struggle to get to your work in the morning – and all in your own time!
- By avoiding the traffic jams, road rage and wondering about your next excuse to the boss for being late your blood pressure stays stable, your mood is better and your heart rate is normal. In other words, it’s a lot less stressful, and you will be liable to live longer and also do a lot better work.
- You can eat at home. Unless you find canteen food better than cooking, that is a definite plus. Nor just that, but you can eat when you like, and take as long or as short a lunch break as you want without colleagues or even the boss making snide comments.
- You can forget the office politics and simply work without having to make sure you are conforming to whatever you must conform to today: dress code, agree with the boss and his/her sycophants and avoid saying anything that might get back to the wrong ears.
By combining the advantages of being self employed with working from home, you have the ideal situation that many can only dream about. Sure, there are drawbacks, such as you being solely responsible for your income and your future, but what’s so bad about that? Better that than relying on others, particularly if you have the ability and the knowledge to work from home as a self employed entrepreneur.
Brian Verigin. Enjoy Your Life, My Home Business Opportunity