Self-employment receives a lot of positive press these days, but not everything we see online about working for yourself is true. Those colorful digital nomad photos you see on Instagram show us the highlights of not having to clock into an office all week. But they don’t necessarily give us a realistic portrayal of the challenges that come with making your own money.
I’m not saying I’m against self-employment. Actually, I work for myself (hence, why I have this website), and I love it! Even so, it’s important to consider the real-life hurdles that come up when you decide to go all in as an entrepreneur, artist, or freelancer.
Our human nature can sometimes get in the way of embracing these hurdles.
In all areas of life, we tend to set our eyes on specific goals because we believe they will provide the answers to our problems. I’ll get XYZ, and then I’ll be happy, free, relaxed, etc. Once we achieve those goals, the glitter and excitement start to fade, as we’re presented with a new set of problems and questions we’ve never faced before.
What once looked like a solution or a gift ends up feeling like another item to add to the list of complaints.
Does this sound familiar?
Maybe this cycle of self-employment challenges is good for you. Or maybe it’s telling you that you’ve chosen a path that’s unaligned with your passions and long-term vision for your work life. That’s up to you to decide.
What Are the Benefits of Self-Employment?
Between time-freedom, location-freedom, and creative liberty, the benefits of doing your own thing are many.
- You become the leader of your entire professional life.
- You design the brand.
- You create the products, services, or programs.
- You market your business exactly how you want to.
- You pay yourself as much as you want.
- You build the network you want to build, and ditch the rest.
What Are the Risks of Self-Employment?
Ironically enough, I could copy and paste the benefits I mentioned above and call them risks, as well. The truth is, responsibility creates joy and pain – whether you’re a parent, a teacher, or a business owner. *Getting to* take charge of your work life sometimes feels like *having to* keep showing up if you want anything to get done.
Oh, and the whole “pay yourself as much as you want” deal…that results from a high-level commitment to a strategy that produces reliable income each month.
Self-employment is a humbling journey, especially for those of you who vow never to have a boss again. Over some time, you might regret the thoughts you had about your former employer because you miss the support, stability, and sense of camaraderie that came with it.
Financial Risk
No matter where your business stands – whether you have a sole proprietorship, partnership, limited liability company (LLC) or a corporation – you are taking on added financial risk that isn’t present when you’re working for someone else.
Emotional Risk
What else is risky about working for yourself? Well, the stress can become downright scary at times!
As the business owner, you are the constant problem solver. Acclimating to this role can weigh on you spiritually and emotionally, if you’re unprepared.
Whether you’re starting or scaling your business, you are constantly having to readjust your routines and recalibrate your energy until you land in a flow that truly works for you. Sometimes that flow involves building a team around you. Sometimes it requires you to do less, for the sake of your personal well-being.
In any case, as a business owner you are responsible for doing the research, making the mistakes, and finding the answers that lead you to a lifestyle that feels more rewarding than being someone’s employee.
Wrap-Up
Is there tension in finally getting what you want? Of course. But that tension isn’t necessarily a sign that you’re on the wrong track. Instead, it could be time to practice being present and creating moments of stillness throughout your day.
Implementing healthy rituals throughout my morning and evenings has been a total game-changer, as I’m growing my business by myself.
I am cheering you on, as you release the tension of receiving what is good for you.
Further Reading on KatQuintana.com: If you like these reflections on entrepreneurship, check out the lessons I learned after being laid off in 2022.
