In this column I will share four reasons to be self-employed, either full-time or as a part-time source of extra income.
Working for a single client carries considerable risk, especially when there are economic readjustments. An employee can leave work on Friday as a valuable asset to the company and return Monday morning with an invitation to clear out their desk by noon.
Limited experience and limited prospects for growth. Employees are encouraged to develop only those skills that relate directly to the position for which they were hired. They are allowed to develop new skills only when it is convenient for the growth of the company. As a result, opportunties for personal and professional growth are limited to those things that are of value to the company.
Living paycheck to paycheck can be daunting. In almost any corporate structure, the income of owners and upper management is out of balance with the rank and file. Nothing right or wrong with this arrangement, it just happens to be the way things are organized. Highly paid exmployees, in many cases, are let go in favor of younger, less experienced, cheaper employees.
High levels of frustration and a sense of not being perceived as a valuable asset to the company. Often there is a feeling of being overworked, underpaid and unappreciated.
Being self-employed, like anything else in life, does involve some degree of risk, but, the risk can be managed in a way that there are more benefits than risks. The best investment anyone can make is in themselves, what they know and how to use that knowledge to create a more balanced and financially rewarding lifestyle.
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