Self-employed v employed

Are you ready for self-employment working with a company with a 40 year proven business model.

I have been self employed for many years and was recently asked about the advantages and disadvantages and about some of my own experiences in my traditional business and my network marketing business.

There are many potential advantages to being self-employed, such as having the freedom to set your own hours and fit your work around other commitments such as child care. Reaping the rewards of your hard work can be very satisfying, while you also have the time to do the things you love most. Working from home means that you don’t have to worry about office politics, company hierarchies or an expensive and stressful daily commute. Your earning potential is much higher when self-employed it’s in your hands and, financially, the sky’s the limit.

My experience of the advantages was always being able to be there for my son, I was in the fortunate position that my husband and I were both self employed and one of us was always available. I never missed a sports day or a school event. Financially we were much better off and were able o take numerous holidays as well as drive expensive cars.

Despite the advantages, there are some inevitable risks involved in being self-employed including lack of employee benefits such as no sick pay, holiday pay or any other employee benefits. Your working day may be more irregular than someone who isn’t self-employed. Business commitments may mean that you struggle to switch off from work life. You’re in charge of your pension, National Insurance and completing your self-assessment tax return. Nobody is there to manage you or motivate you during the difficult times. The fact that success or failure is down to you can increase your stress levels. Your income can be irregular, especially in the early days.

Some of the disadvantages I encountered were that in the early days of running my financial services I had no administrator which meant that out of office hours and on holiday, the office phone was always diverted to my mobile. There was one time I was sitting on the beach in Lanzarote when a client called to ask me to arrange a mortgage, had to get all the information then go online to get him the best deal, in the meantime, my sandal floated out to sea. Clients were unaware that I could be on a cruise liner or holiday hotel while at the same time discussing and arranging, pensions, investments, life cover and mortgages. When my son was born, I could only get two weeks off work as it was “ISA season” and clients are only interested in ensuring they’ve used up their tax-free ISA allocation, not in your ante-natal leave.

Success as a small business owner largely relies on the strength of your products and training and the Forever Living offering provides both. You are asked to provide the drive, determination and enthusiasm to make it work. You must know your products, be willing to listen and adapt. It also helps if you are focused and goal-orientated, able to set clear and realistic objectives as well as the appetite to speak to others about what you do and bring them on board.

It helps tremendously if your family and friends are supportive and that you genuinely believe that you’ve got the ability and energy to be successful.

If you feel that you’re ready to make the move, contact me and we can plan your exciting future