Working For Yourself? Self Employed vs Employed


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Have You Always Fantasized About Working For Yourself? But Couldn’t Decide Between Self Employed vs Employed?

Thinking about going it alone, working for yourself, quitting your job and starting your own business? Or maybe you’re tired of trying to make ends meet and just want a stable job with benefits? There’s a lot to consider when deciding on what kind of work you want, whether you want to be self employed vs employed.

Over the past couple of years I’ve worked for myself but recently made the change to work for an employer. Both come with their own share of positives and negatives. I’m a corporate employee by one of the largest real estate company in my area. But personally, I have a preference for being self employed.

You might ask, “Am I Self Employed?” If you work for yourself, own your own business, engage in “Gig” work or freelance work, or are an entrepreneur then, yes, you’re self employed.

Pros of Being Self Employed

Not Having A Boss:

It’s probably the sweetest part of not being employed by a company. I don’t have to answer to anyone other than my clients. My career is not determined or influenced by one single person. As an independent contractor, I had to kiss ass with clients but if a person didn’t like me or respond to me by giving their business then it wasn’t the end of the world. Working for a good, caring and mentoring boss is probably the rarest thing in the world. I wouldn’t depend on it. People that I felt I could look up to in my industry fell far and few inbetween but working for yourself means you’ll only have to look up to yourself.

Sense of purpose:

I knew exactly how I wanted to run my business. I knew I could find a way to make money that would fit my lifestyle and personality. I motivated myself and kept my spirits up during slow periods because at least I was “making money on my terms.” I’m employed now but I definitely miss the days where I felt self-motivated and every dollar earned had so much more value.

No Red Tape:

I really like not having red tape on how to run my businesses or how to do things. Creative solutions are welcomed when you run the show. No rules or regulations. You can go as far as you want to go. Some people feel stressed in that kind of situation. Like, “What do you mean I can do whatever I want and how I want it??” “This is chaos!” Nope, with choices come freedom and innovation.

Flexible work hours:

Ok it wasn’t that flexible. I had to work when my clients were available which in real estate meant evenings and weekends. But it wasn’t every weekend and it wasn’t every evening. If it was slow, I worked less. If it was busy, I worked like a dog. Real estate is a demanding industry. Some other versions of self employment can be more flexible and allow you to work from home like freelance writing, consulting or social media marketing.

Sounds really awesome, right? Why doesn’t everyone just work for themselves. Why would anyone work for “The Man”?

“The Man” pays your taxes and subsidizes your health insurance/benefits:

Did you know that your employer pays your taxes? Specifically, part of your social security tax. An employee pays 6.2% and an employer will pay the rest. When you’re self employed you’re paying the whole 12.4% for social security. What about your commuter benefits, health insurance premiums, what if you had to pay the premiums outright or pay out of pocket? PTO is also pretty nice. Not going to work but getting paid anyway. These are things that we just expect when employed but self employed individuals have to cut into their profits to cover these costs.  The self employment tax is a pretty penny and should be considered when deciding to take the plunge. That’s probably one of the bigger benefits of being employed vs self employed.

You Get Paid No Matter What:

Whether it’s a bad day or a good day, you get a check at the end of your two weeks! I don’t know about you, but I like to get paid. Having to hustle day to day or deal to deal in order to make income can get tiresome. The truth is when you’re self employed your not going to make as much in the beginning as your employed counter parts. There’s no promise you’ll even succeed to make equivalent to what you would have made if you were employed. The beginning of starting your business will likely be slow and you’ll need some sort of cushion to break yourself in. My first year in real estate I made -$6000. I made negative income!!! The cost of my business was more than my income. I lost money. Then my second year was $36K, then 46k. Now I’m making double that being employed.

When it comes down to it, working for yourself isn’t easy. The type of employment you choose is entirely up to you and is a matter of personal choice. For right now employment seems to be the answer, but who knows, if a good business opportunity presents itself, I just might take it!

Check out my other posts!

Why Multiple Streams Of Income Are Absolutely Necessary

What To Do When You Dislike Your Job

How To Live With Student Loans & Pay Them Off Faster

The Power Of Positivity: Live The Good Life

Positivity

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I like to consider positivity one of those things you just exude. The power of positivity hold so much weight in our society nowadays.  We all know that person who caries a cloud over their head, raining on everything and everyone around them and then there’s that person who brings light into every room they enter. You know this person is living the good life.  They greet everyone, laugh, remember your name and generally just have a good disposition.  When talking about the future or their current state, it’s all good!  And it’s not an act, these are people who generally believe it.  We also remember what it’s like to be around someone who is depressed and an all around Negative Nelly.  But being positive can make you stand out.

There was this girl from law school that I knew.  She was very well liked, smart and…positive!  I never remember her complaining about the workload, the classes or really anything in general.  She worked hard, studied, networked through extracurricular activities. She had that confidence and believed in her work and her reason for being there.  That girl ended up winning.  She graduated among the top of her class and ended up in a great associates position at a major law firm.  I on the other hand was very negative at the time and ended up dropping out later that year. (More on that in another post)

I really didn’t learn the power of positivity until later in life. And it honestly makes a difference!  It changes your life! And best of all it makes you happy!

  1. Gratitude: At any given time we all have problems in our life.  A flat tire, a bad hair day, a lost loved one, a hard day at work.  And it’s so easy to focus on these issues but what about the good things in your life?  What about your family or great partner? What about the fact that you’ve made it to X years in your life? You’re still here enjoying what it means to be human! What about the food on the table, your job, the clothes on your back the God-given gifts life has presented you?  Now imagine you spent as much time feeling this positive about what you have in life vs what’s wrong.
  2. Affirmation: Even if it’s not true say it and make it true.  Last night I was working out with my Husband, he was helping me out with weight training.  He likes to push me.  Meanwhile, I haven’t done a single push up in, like, 8 years.  The phrases I said were, “I can’t,” “it’s too much,” “you’ve lifted more weight than me.”  when is was his turn to work out, he kept pushing himself, “come on!” “Let’s go!” After he was done with his set, he’d push himself further, “two more!” Again and again. My point is, believe in the goal and the goal will come true.  Reality starts with thought, positive or negative, and that is what the outcome will be.  My husband really believed he could lift the weight and even when he was tired and pushing himself, he could.  Write down your goals. Say them aloud every day, affirm them.  You’ll be surprised at how easily the ideas come  to you, as well as the willpower to make them happen .
  3. Action: Because positivity is nothing but hope without action, you can keep saying your mantras, keep having positive thoughts but if you’re not willing to put in the work to make it happen…  I’m sorry to have to be the one to break it to you, it ain’t falling out of the sky and happening for you. You need to ask yourself the hard questions.  What are you willing to do to make this happen? What are you willing to sacrifice? Because all gains in life start with sacrifice and work.

What I’m really saying is that changing your attitude and your perception coupled with action can bring blessings and “luck” into your life.  This isn’t just another motivational blog post.  Give it a try, seriously.   Positive thinking is everything.  Maybe positively can’t change all the problems in the world, but it will definitely change how you feel about them. 🙂  Stay Positive!

I hope you liked “The Power Of Positivity”
Check out my other articles!

The Power Of Change 
On Gratitude…
Playing The Game Of Life And Winning: 5 Approaches To Success

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