10 myths about working for yourself

Now more and more people decide to work only for themselves, but some are afraid of such an innovation. No one is safe from mistakes. Especially in such an important matter. myths about working for yourself.

1. People who work for themselves work really hard.

Many self-employed people work harder than employees. Some get so much pleasure from work that they want to work longer. Some organize their business in such a way that their physical presence is necessary to generate income. Both ways are a normal choice at least because you personally decide what and how to organize.

Many people start their business by being paid only when they work, such as a lawyer who opens legal advice and issues hourly bills to his clients. When a lawyer is at home, he does not generate income.

But there is no law that says you should only start a business that brings in money only during your work. If you start such a business, you are only creating a job for yourself. You build a revenue system that brings you money, a system that you own and control. It's like having a golden chicken that works to bring golden eggs.

So, long work is mostly an indicator of the type of business you have personally chosen. If you don't like to work hard, you usually don't have to.

2. The only reason to start a business is to sell it.

This is a favorite statement of Michael Gerbera, author of The E-Myth Revisited and other books in the E-Myth series. Of course, you can always create a business to sell or put it up for public offering, but you can also create a business in order to keep it to yourself. In fact, starting a business, leaving it for a while, and then just killing it is absolutely right.

As a self-employed person, you are free to build any business you want. If you want to build a business for sale, do it. If you just need a source of income that does not require you to go to work, this is also good. There is no rule that says you should create a business as a monument to human greatness.

Many people enjoy recurring entrepreneurship. They start a business, run it for a while, and then sell or close it. Then they repeat the process.

You can also have multiple businesses at the same time. This may sound tricky, but if you have businesses for ten years or more, repeating the process and generating another one is not difficult. Variety can also be fun if you don't get too tired.

3. Working for yourself is much riskier than getting a job.

Security is the result of control, and work gives you much more control than regular work. When you work for yourself, no one can fire or fire you. What is safer - owning your own source of income or renting it? Undoubtedly possession.

If you urgently need extra money, it is very difficult to find it when you are an employee. But as an owner who controls all the assets of your businesses, you have the ability to reallocate resources to a difficult place. Possession of control creates great differences.

Employees risk the most. You realize how risky it is when you suddenly hear "we let you act," while the owners enjoy a percentage of record profits.

4. To work for yourself means to put all the eggs in one basket.

Ask yourself: how many people do you need to anger to shut down your source of income? For employees usually one. If your boss fires you, your income shuts down immediately. Fair or not, you will lose all sources of income, for whatever reason. So it's folding eggs into one basket.

By working for yourself, meanwhile, you can easily diversify your income streams, thereby reducing your risks. You have all the necessary levers for this. Generating different types of income from thousands of customers is much safer than getting a single salary.

5. Work on yourself is full of stress.

If you are tense, you are unable to make ends meet, you work somewhere or only for yourself. But other things being equal in life and income, work on yourself is less stressful, since you enjoy a greater degree of control. Lack of control over one's time and life is stressful. When you have the freedom to say no, you can control your stress more easily.

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Working on yourself can be very stress-free if you decide to do it that way. You can turn your office into a relaxing place to work. You can set your own schedule. If you notice signs of stress, you can take a break to relax. No one can force you to do what you don't want to do.

6. The customer is always right.

If you work for yourself, feel free to get rid of customers who upset you. Some customers just don't deserve your effort. If you work for yourself, there is no need to do business with those who think they have the privilege of perceiving you as unnecessary. If you don't like having such clients, you are unlikely to like people who come for their recommendations. On the other hand, you can have fun sending such people to competitors.

7. Work on yourself leads to loneliness.

Many employees think that they enjoy a full social life when all they do is flirt with their colleagues. It's nice at first, but it gets boring after a while. On the other hand, a self-employed person finds it easier to recognize the need for social activity outside of their work. After all, it may be because of a desire to learn from the same business owners.

There is no need to be lonely and isolated if you work for yourself, as long as you want to participate in various social activities. There is some kind of internal socialization in regular work, but if you think about it, you will see how limited it is. An employee may be fired for over-socializing at work. But a self-employed person can communicate freely at any time of the day.

8. Self-employed people must do everything themselves.

Self-employed people can be responsible for everything they do, but it is usually inappropriate to do everything yourself. The amount of work will be too large.

9. Work on yourself is too incomprehensible.

Self-employment can seem confusing because there is a lot to learn in the beginning, such as accounting, taxes, payroll, legal regulations, insurance, and more. It takes time to learn the basics, but most of them aren't really that complicated. Just take a good book on the subject and you will start great.

Don't let the initial learning curve break you. You only need to study this once and only for your first business. When you start a second business later, things will go much faster.

If you organize everything correctly, supporting a working business will no longer seem like a nightmare.

10. You will need a lot of money to start a new business.

It depends on the business. You can start an online business for a very small amount, starting with buying a domain and hosting, which are very cheap. It's less than the $ 100 needed to close the first year.

The bottom line is that there is no need to invest your last money in your first business. You still need to have a thoughtful way to add value to people. The good thing about online business is that you can create value over a fixed period of time (an article, for example), and technology can deliver that value millions of times without increasing the cost of that delivery. You invest a small amount of time in the initial value creation, but you get paid for the constant bringing of value. Technology does the main work for you at a price that is virtually zero, but you get paid for the results (much more than zero).

In contrast to self-employed people, workers cannot normally receive money for the constant introduction of value. They receive a fixed fee or one-time commissions, while employers receive a fee indefinitely. Employees are very generous to their employers.