These days, a growing number of workers are leaving their jobs in favor of self-employment. There are numerous benefits of working for yourself, such as getting to set your own hours, accepting or declining projects based on your interests and preferences, and having the ability to do your job from home should you so choose.
If you’ve been toying with the idea of becoming self-employed, here are a few signs that it might be the right fit for your personality.
1. You’ve never liked taking orders
Some people don’t mind being followers and having others call the shots. But if the idea of having to answer to a boss has always bothered you, it probably means you’re better off working for yourself. This way, you get to do your job on your own terms and don’t have to worry about a manager holding you back or cramping your work style.
2. You get a thrill out of making money
Let’s face it: While the right job can certainly be fulfilling in a non-monetary sense, it’s often the pursuit of the almighty dollar that drives us to perform our best. If you get an extreme sense of satisfaction out of earning money, then becoming self-employed gives you a real opportunity to control your own financial destiny. Furthermore, many salaried employees aren’t eligible for overtime, which means they don’t necessarily get rewarded for working harder. But if you’re self-employed and are willing to hustle, all of that extra effort might really pay off financially.
3. You’d rather work than relax
Some of us just plain need our downtime, and there’s nothing wrong with that. But if you’re not the lounge-around-on-the-couch type and get more pleasure out of doing productive things with your time, then you might fare pretty well being self-employed. Often, the key to being successful as an independent money-maker is pushing yourself to make that extra effort, and if working is something you generally like to do, you should have no problem investing additional time.
4. You’re a natural risk-taker
Some folks are more risk-averse than others. But if the idea of trying something new doesn’t scare you, but rather excites you, it’s a sign that you’re suited to work for yourself. Of course, there are steps you can take to minimize the risks associated with becoming self-employed. For one thing, go in with a healthy emergency fund so that if it takes a while for business to build up, you’ll have money to fall back on. Better yet, drum up some business before diving into self-employment full-time so that you’re not starting out with no work at all. But even if you do those things, there’s still a fair amount of risk involved, and if you’re the type to embrace it, then you’ll likely enjoy working for yourself.
5. You value flexibility
When you work for a company, you have to abide by its hours and schedule, and that can negatively impact your personal life. Some people don’t mind sticking to a rigid routine, but if having flexibility with your days is important to you, you’ll most certainly come to appreciate being self-employed. Keep in mind that self-employed folks don’t necessarily work fewer hours; often, it’s the opposite. Rather, they get to do their jobs when it works for them.
Being self-employed has its perks. If you’ve been itching to escape corporate life in favor of doing your own thing, then it pays to try working for yourself. It could end up being the best career decision you’ll ever make.
CNNMoney (New York) First published August 10, 2018: 9:32 AM ET