• Start Ups
  • E-Commerce
  • Insurance
  • Gig Economy
  • Tech
  • Office
  • Taxes
  • Law
  • Funding
  • Marketing
  • Infographics
  • Podcasts
  • Videos
Sign in
Welcome!Log into your account
Forgot your password?
Privacy Policy
Password recovery
Recover your password
Search
  • About
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.
TheSelfEmployed.com TheSelfEmployed.com
Your Gig Just Got Easier TM
TheSelfEmployed.com TheSelfEmployed.com
  • Start Ups
  • E-Commerce
  • Insurance
  • Gig Economy
  • Tech
  • Office
  • Taxes
  • Law
  • Funding
  • Marketing
  • Infographics
  • Podcasts
  • Videos
Home Work From Home The Daily Worries Of Those That Are Self Employed
  • Work From Home

The Daily Worries Of Those That Are Self Employed

By
Chris Lewis
-
July 7, 2017
0
  • 1share
  • 0
  • 0
  • 0
  • 1
Share via
    The Daily Worries Of Those That Are Self Employed

    As the economy continues to turn downward, more and more Americans have begun to look for alternative forms of employment. This can be very risky, but incredibly rewarding. If you are sincerely willing to put in the effort, you can make a lot of money working from your home. Nevertheless, there will always be some degree of risk involved. Below, you will gain more insight into the risks associated of being self-employed in this day and age.

    Highly Competitive

    It is absolutely vital to realize that nearly everything has already been done at least once. This can create a very competitive marketplace for almost all niches. Whether you’re selling shoes or running a local restaurant, you can guarantee that you’ll face competitors regionally, locally and internationally. If you’re unable to rise above your competitors, your business will never flourish. Before getting in too far, make sure you have a sound strategy for upstaging your competition.

    No Health Or Retirement Benefits

    One of the biggest risks associated with becoming self-employed is the lack of benefits. Once you’ve decided to label yourself as self-employed, you’re going to become responsible for every aspect of your business, your life and your future. You’ll need to manage your money, pay your taxes, and plan for your retirement on your own. The money you dedicate to your future retirement and your health insurance will come directly from your company’s revenue. If you suffer from medical malpractice, it will be your responsibility to find an attorney and fight for the money that you’re rightfully owed!

    This can make life a little more difficult and you’ll be required to manage your money more efficiently.

    Burn Out

    Since you’re going to be responsible for every aspect of your business, it is highly likely that you’ll experience burn out at some point or another. Working the same old job day in and day out and become tiresome. This is even worse when you have few, if any, employees to rely on. This is a situation that is very common for the self-employed. If you’re not careful and do not take time away from your responsibilities, they may get the best of you.

    Instability

    Most people who consider starting a business do not even consider the risks. They only consider the benefits, when they make their decision to become self-employed. While it is true, self-employment offers an array of benefits it also comes with some risks. One of those risks is instability, forcing you to work on several projects simultaneously. Working in the job market for an employer offers immense stability, which is not offered through self-employment.

    No Career Growth

    When comparing self-employment with working for an employer, you will immediately notice that being self-employed does not offer room to grow your career. Most executives that work for large corporations or Fortune-500 companies started out at the very bottom and worked their way up. Owning your own business will mean that you are the boss, so you have already reached the top of the “career ladder.” However, this isn’t such a bad thing, because you will have the freedom to do as you please, since you are the boss.

    Previous article A Guide For Developing Content For Social Media Platforms
    Next article The Challenges of Being Self-Employed
    Avatar
    Chris Lewis

    Recent articles

    6 Ways to Achieve a Positive Mindset and How it Will Help You Succeed
    Start Ups

    6 Ways to Achieve a Positive Mindset and How it Will...

    Team TSE - January 15, 2021
    4 Tips for Building Your Creative Business

    4 Tips for Building Your Creative Business

    January 14, 2021
    How to manage your time efficiently as a small business owner

    How to manage your time efficiently as a small business owner

    January 11, 2021

    8 Ways To Improve Customer Satisfaction

    January 10, 2021
    What Does It Take to Run a Successful Pizzeria?

    What Does It Take to Run a Successful Pizzeria?

    January 10, 2021

     

    Follow & Subscribe

    Newsletter Signup

    Signup to get weekly tips and advice to help make your self-employed journey easier!

    Thank you!

    Please check your email to confirm your subscription.

    © 2021 - The Strauss Group, Inc. All users of this site are protected by our Privacy Policy and bound by our Terms of Use