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5 Reasons to Choose Self-Employment
By Cathy Goodwin, Ph.D.
Many people start a business to "be my own boss" or "find meaning in my work." But increasingly I talk to clients who realize that starting a business also makes good business sense -- even when conventional wisdom dictates, "Stay corporate!"
Here are five reasons why.
1. Too High Profile. You're a politician, a senior bank official or a broadcaster. Following your much-publicized firing, you can't just show up on a corporate doorstep to apply for a job.
Warm your welcome by presenting yourself as an independent contractor who won't be a threat to the existing hierarchy.
2. Lots of Experience. Some industries simply don't hire at the senior level. You must join at an entry level position and work your way up. But you can't say "entry level" with a straight face.
Leverage your expertise into a high hourly rate.
3. Specialized Expertise. Only three jobs in the world like the one you just left - and they're all filled. But you're too experienced to be a beginner.
Try slicing and dicing your unique expertise and sell in hourly chunks. Or build on skills you take for granted, like negotiating.
4. Geographic Limits. All the "good" jobs exist in places you don't want to live. Or you really, really want to move to a tiny mountain town, where you'll breathe clean air, sleep like a log and compete for minimum wage jobs.
Choose a business you can run from your home computer and enjoy the best of both worlds. Or begin to offer a service the local residents need -- and will pay for.
5. Shaky industry. "Carlene," a fifty-year-old sales manager, lost her high-tech job following a merger. She held three jobs in the next five years - all temporary, demeaning and miserable. In the twenty-first century, you need to create your own career insurance.
Use portfolio theory: Create a business that targets multiple customers and multiple industries.
Bottom Line: Not everyone wants to become self-employed and I'm not promising an easy ride. But if you relate to these reasons for solo-preneurship, start now. Clients who choose this path say, "It's been a long haul but frankly, I wish I'd done it sooner."
********************************************** Cathy Goodwin, Ph.D., is a published author, career/business consultant, and speaker. Subscribe to Your Next Move Ezine: Read one each week and watch your choices grow! mailto:subscribe@cathygoodwin.com
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