Self-employed or employee? Great reasons to do either.

So, you’re starting to think about working options and on one hand, you like the idea of leaving the house for a few hours and joining the outside world.  On the other hand, you’ve got a creative itch you want scratch and creating your own business could be the way to go.

Whatever way you want to go, that is, being an employee or becoming self-employed, will bring about differing environments, experiences and stimulation.  Everyone’s circumstance is different and as such, different priorities and values will impact the final decision you make in regards to your new working situation.

The key thing to remember is that you do have choices and that no decision is the wrong decision.

When drawing up a list of what 2 or more options may offer, I always ask clients to simply write down the benefits of the options they are considering.  That way, whatever decision made will always be the right one.  Yes, of course there may be compromise but knowing that you have weighed up options and made a decision that will always be right, compromises simply become part of the journey/process rather than a negative outcome.

Below I list what I perceive as the positives of becoming either self-employed or an employee:

Employed

  • You know exactly what income you will receive – therefore you can budget quite easily for your outgoings.
  • Can leave the job behind once you leave – so when you go home, you are home.
  • Clear directives for job performance – no second guessing what you need to do to get the job done
  • Defined working hours – making child care planning and any other commitments easier to organise.
  • Colleague interaction – meeting new people means having new and different conversations.
  • Company benefits – which vary according to where you work but could mean free parking, reduced gym membership, pension contribution………
  • Training opportunities – some companies like to mentor and grow their staff so potentially you could get access or funding for some brilliant new skills.
  • Update your knowledge and skills – technology and working practises are constantly changing so going back as an employee means that you can update/upskill your current knowledge.
  • Low cost – apart from maybe updating your work wardrobe and travel costs, your outlay for becoming an employee is low.
  • Negotiation opportunities – these can be at interview stage or once you have your foot in the door and proved yourself.   Some employers are keen to implement family friendly policies so you might be able to negotiate hours, working from home on some days, or salary increase.
  • Security – whilst job security is not guaranteed 100% these days, chances are there is more stability when an employee.

 

Self-employed

  • Unlimited earning – not that I am saying that you will become a millionaire overnight but you certainly have the potential to earn more than being an employee.
  • Create your own day –choose your hours and when you work them. Choose your location too.  There have been days I have sat in my ‘office’, times when I have grabbed my laptop and gone to a new café, park or the beach (yes, really!).  I have even put together a yearly plan at a busy trampoline centre.
  • Develop your business acumen – you will be learning and developing lots of new skills related to your business (and no-one needs to know if you’re a complete beginner at something!)
  • Personal development – trust me, you will learn a lot about yourself.  You will develop various traits such as resilience and of course, you will invest time and money into your personal development because that’s just how it is with owning your own business! You will be stimulated, stretched and challenged in ways you may not imagine (but all for the greater good!)
  • Flexible – your business can be designed to fit around other areas of your life as you see fit.
  • Follow your passion – this is your chance to create the job of your dreams rather than just doing something because you have the skills or it’s what you are familiar with.
  • Great bonding – chances are you will meet many people (face to face and online) on your solo enterprise and the great thing is, you have more choice in who you have to deal with.  In other words, they will not be colleagues that you ‘have to’ get on with but people you can choose to spend time with or politely move on from.
  • Support – yes, you are going solo but there is so much support if you want it – from networking groups to online groups. The amount of information and support I have received (and given) in some of the groups is amazing.  You don’t have to do it all on your own.
  • No daily commute – travel as and when it is needed rather than defined.
  • No bosses – sorry, I had to put that in!! But hey it’s a great one – you answer to no-one but you.  No office politics – how liberating is that?!

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