There are many pros and cons of having your own business or being a freelancer as well as pros and cons of working for someone and being an ‘employee’.
Not all job roles can be done independently and it does depend largely on what industry you’re in. But if you have the option in your industry to be self-employed or employed by someone else, here’s a few things to consider first that can help you decide if a change in direction is a good idea for you.
Are You A Motivated Person?
Are you someone that can self motivate and drive yourself when it comes to getting tasks done on a daily basis and meeting deadlines? There can be days when getting up and working seems much harder, especially if you’re self-employed and have the option to sleep in instead of get up and go to a place of work. If you’re the type of person that likes to go to work and work through a list of tasks that have been assigned to you, you may struggle with being self-employed. If you’re someone who already strongly self-motivates in your current job and know exactly what should be done and think you could do a better job by yourself, going solo could be a great option.
2. Are You A ‘Salesy’ Person?
Can you get out there and get new clients for yourself? Are you the type of person to network and mingle with people at events, pick up the phone and cold call, and communicate regularly with potential clients on social media in order to drum up business? Or, are you more reserved and introverted when it comes to socialising with clients? If you offer a product or service that is in high demand, this isn’t always an issue as customers can come to you, but if you find yourself going through a quiet phase, will you cope?
3. How Well Do You Manage Time?
In the same way you need strong motivational skills to get the work done, being efficient with your time is just as important. Being self-employed requires someone that can manage their work flow and prioritise important things and schedule other tasks for later dates. Many people see the appeal of being self-employed as the freedom to do what you want when you want. And whilst that is the case in many ways, the reality is that many people work early mornings and late evenings so that they can fit their work life around their family life. This is great if you’re someone that can manage your time well. If you’re someone that likes to work 9-5 then switch off when you get home, being employed is probably a better option.
4. What State Is Your Industry In?
This is a crucial question to ask and it goes hand in hand with knowing your market and knowing your audience. Is the industry you work in safe to leave a comfortable job and go it alone? Is it a growing and thriving industry with plenty of possibilities and room for competitors? Or is it struggling and saturated? Do you have something to offer the industry that you could do on your own? Have you found a way to disrupt the industry and make a success of it yourself?
5. Do You Believe In Yourself?
The most important question for anyone whether it’s in their career or in their own business is how much do you believe you can progress in a job or progress in life self-employed. Do you trust that you’re the type of person that will enjoy working for someone else or on your own? What will make you happier in your every day life and keep you enjoying the work you do?
Be brutally honest with yourself before you make any big life decisions.