Are you tired of the rat race? Millions of working adults are tired of working for other people and would rather hang out a shingle and live the self-employed lifestyle. But don’t fall for the common misconception that being self-employed means working less. It doesn’t. On the contrary, large numbers of independent workers put in more hours, work harder, and are more committed to their jobs than every day corporate types who clock out at 5 p.m. each weekday. There are all sorts of options for those who want to work for themselves, some more lucrative than others.
After making the decision about what you’ll do for a living as a one-person company, be sure to explore all the financing options available. The vast majority of indie workers don’t turn a profit for at least three months, so don’t neglect borrowing from a reputable lender. After that, consider job categories that appeal to you. While each person’s situation and personal preferences are unique, there are three career paths that make excellent sense for solo workers. Here are suggestions about how to get started.
Funding Gives You Choices
Being self-employed gives you a lot of freedom, but it also brings some obligations. One of the most critical ones is the need to finance 100 percent of your company’s operations. There are no corporate headquarters or national offices to dole out money for necessary expenses. That’s what the self in self-employed is all about.
Fortunately, there are reputable lenders out there who specialize in supporting the small business community, investing in owners’ success, and offering a variety of loan programs for companies of all types. Taking out a loan for small business needs is a core component of your initial strategy. Look for those who offer flexible terms, realistic repayment schedules, business coaching, and access to support forums. The best lenders in this field are willing to work with companies that have no access to traditional loans.
In a digital world where more people than ever need help to rebuild their personal credit, online counselors are in high demand. Consider taking one or more courses and earning certification so you can add the credential to your business card. Invest in online and local advertising to get your phone number and website address in front of people who are having trouble getting home or auto loans.
Commercial Real Estate
Even as the economy suffers a general downturn, it makes good sense to obtain a commercial real estate license and work part-time with startups and other small companies that are searching for brick-and-mortar storefronts and offices. You can make money in commercial real estate since commercial agents typically earn higher commissions than others and can leverage the power of advertising to gain new customers. Solo practitioners can build long-term, stable careers within about a year.
You can choose to operate a house painting company as a worker or manager. Some start by advertising locally and taking one or two simple jobs to gain experience doing interiors and exteriors of homes, apartments, and offices. The key to staying busy is to invest in advertising, top-grade equipment, and excellent employees.