Becoming Self Employed – Is It For You?

Becoming self employed is an attractive prospect for many people. It offers a degree of flexibility and you have no boss to answer to. Being self employed can also be lucrative, any profits made are yours once you have met ongoing costs. If taking the plunge to go self employed appears tempting, it is important to take a rain check and remember that there many downsides too.

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One of the main cons of being self employed is that being employed on a payroll actually offers a great deal of security. When you decide to become self employed you give up many of the benefits enjoyed by employees. Employment gives a worker lots of rights including, a contract, regular pay, sickness and holiday pay as well as some legal protection. Of course as a self employed person you can still access benefits, but it will be instigated and paid for by yourself. Thankfully there are lawyers who specialise in offering support to businesses in different sectors, for example a truck labor lawyer will represent truck drivers working on a piece rate basis.

So why do so many people choose to go self employed, when there is so much security and benefits to being an employee? Read on to discover why some business owners choose to make the switch.

Earning potential

Most people working on a freelance basis earn more than if they were self employed in the same role, in fact it is estimated at around 45%. You are able to put certain expenses through “the books” which further enhances earning power. As you are working for yourself you will be able to develop your business without constraints, you will be able to pitch for work at higher prices as your reputation grows and any profit will be yours.

You are your own boss

Being self employed means that you don’t have anyone monitoring your every move. You will need to meet the requirements of your clients, but how you get there is up to you! On the flip side however, you will need a high degree of motivation and a strong work ethic. Otherwise your business will not progress as much as you envisaged.


If you require time off to watch the kids nativity or go to the dentist, you won’t need to grovel to your boss. You won’t be constrained to the 9-5 routine, as you can choose your own hours. This is particularly useful if you wish to become a player on a global scale in the future, as you will be accessible 24 hours a day and not just when you are in the office.


Being self employed and running your own business is a constantly evolving role. You need to stay one step ahead of your competitors in order to survive in the marketplace. You will need to adapt manufacturing processes, services and product design to meet your target audience requirements. All of which offers variety to your role.

To conclude lots of research needs to be undertaken prior to becoming self employed, but if you’re sure that being self employed is for you and your personality will allow a high level of commitment, then take the plunge and enjoy the freedom!

8 Things Freelancers Need To Think About Before Something Critical Happens

Being a freelancer has some incredible perks, but it can also be tough at times. You don’t always know if you’re going to get paid, and what exactly are you supposed to do if you fall ill and can’t work? Here are 8 things freelancers need to think about before something critical happens!

Getting Insurance

Getting insurance is possibly one of the smartest things that a freelancer can do. Insurance can help to cover you when you’re ill, even in the hospital, and you won’t be left in the lurch so badly if you can’t work. It’s a small expense to pay each month for long-term peace of mind!

Knowing Your Worth

Knowing your worth is crucial as a freelancer. Have you ever considered that you could be undervaluing yourself? Many freelancers make the mistake of offering really cheap rates to get clients, but this could be a huge mistakes. Your clients will want quality, rather than to save money. They want to make sure they get the most out of their money, so rather than trying to do the cheapest price, figure out your worth and make sure they get the best value for money. If they give you $3000 to design their new business website, make sure you design the best business website for that price imaginable.

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Finding Somewhere Suitable To Work

Finding somewhere suitable to work is imperative as a freelancer. Working from home is relatively cheap, but it can come with many issues. You can experience interruptions, find distractions, and find it difficult to separate work and home life. It could be better to lease an office – there are sites out there that make leasing offices easy for you. You need to consider what’s more important; getting things done in a healthy environment, or working in your pyjamas?

Keeping Accurate Records

Keeping accurate records is something every freelancer must do to avoid getting into trouble with the government. You must make sure you accurately record what you earn, what your business expenses are, and every other relevant piece of information that impacts your business. When it comes to filing your tax returns, you’ll need this information, and you’ll wish you had it if you ever get audited!

Building A Wonderful Reputation

You get a wonderful reputation by consistently producing quality work, pure and simple. You must do your best for your clients again and again, and this will help you in terms of recommendations and things like that. If you cut corners, chances are, your reputation will be mediocre at best.

Developing A ‘Paid Up Front’ Policy

A paid up front policy can be a little scary to reel out, but it makes sense when you have unpaid invoices to worry about. You should ask for a deposit at least from new clients or those who haven’t been to you in a while. This not only ensures you get your money, it shows you that a client is serious about the work.

Turning Clients Down

Turning clients down is sometimes something you have to do if you’re going to be true to yourself. You must be honest about limitations if a client asks you to do something you’re not comfortable or confident with. Clients are not as scary as they seem, and will respect you for being honest. You could even offer to refer them to somebody else who can do the thing you can’t. Who knows, the client might hire you anyway!

Knowing When To Take A Break

It’s too easy to exhaust yourself mentally and physically when you’re a freelancer. You must set boundaries for yourself and only break them in exceptional cases if you’re going to produce the best work and have a great work/life balance. You should take at least one day off and do not work on that day. Everybody needs some down time and a day off! During your work days, make sure you get up from the computer, stretch, meditate, go for a walk, or do something else to give you a break from the screen. It can be tempting to sit there and plug away to get things done as quickly as possible, but sitting in front of a screen for 10 hours without even having eaten lunch isn’t healthy at all. Never feel bad for taking a break!

If you’re a freelancer, make sure you make a note of these things today. The sooner you take them on board and implement them, the more your quality of life should improve and the safer your business will be!

Never Get Trapped By A Freelancer

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A lot of people have started moving over to doing work for themselves, over the last few decades. This trend of new freelancers has seen a massive rise thanks to the tech industry. Now, it’s possible to have people working for you all over the world. And, you don’t have to worry that the work will be done badly; it will still be done by professionals. This presents businesses with a great chance to get their work done cheaply. But, it also opens up some risks. To avoid these, you just have to take the right steps. And, this post will be going through those steps.

When you first hire someone, they should give you a proposal. This acts a bargain. The freelancer will work out how much they will do the work for, how long it will take, and when they will work on it. And, you will agree with it if you want to hire them. In most cases, people will take the proposal very lightly. But, it’s important to make sure that you both know exactly what is required for the job. And, exactly how much it will cost you both in time and money.

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Along with this, you also need to provide the freelancers with a spec for the job. This will detail exactly what you need them to do for you. With something like this, everything means everything. It’s important to make sure that you don’t give them any surprises down the road. Otherwise, you may find that they don’t want to work with you anymore. Always include any future work that you might want done, too. This will make the job sweeter for them. And, it will help to make sure that they understand the scope of the project.

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Once everything is agreed, you need to have a contract made. This will protect both parties, in case anything goes wrong. Most of the time, the contract will not be needed. But, it could be very useful if you have issues. You should always use a professional contract company to help you make something like this. You need to include details about the work and the freelancer’s claim to it once it’s done. And, everything else you’ve agreed.

One of the easiest ways to make sure that you don’t get ripped off by a freelancer is by getting them to fill in timesheets. A lot of freelancers will add on extra time when they come to you with the bill for their work. And, this can cause issues. So, it’s better to have some timesheet tracking online, which will prevent the issue altogether. A lot of companies offer this service very cheaply or even free. So, it’s worth taking a look.

Hopefully, this will help you to avoid issues when it comes to using freelancers for your work. A lot of these things will also protect the worker. So, it’s in their interest to help you with this by going along with it. So, if someone refuses to do this for you; you shouldn’t be working with them.