Being Your Own Boss: 4 Self-Employment Ideas

Let’s just come out and say it—the current job market is tough. Even with the economy recovering, there are still millions of people who are unemployed, and even more who are underemployed. Finding a company that’s hiring in the first place is rough, much less one that offers a fair wage; then, when you do find a good opening, there are hundreds of other applicants competing for that one spot.

Meanwhile, many workers are becoming disillusioned with the idea of working for an unreasonable manager with impossibly high expectations. The prospect of setting your own hours is appealing, as is the knowledge that your success or failure depends almost entirely upon your own performance. For these reasons, we’ve put together a list of potential ideas for people who want to work for themselves and be their own bosses.

Real Estate

Even though the job market is still rough, the housing market is in one of the best places it’s been. At the beginning of the year, interest rates in the United States dipped below 4%, something that in the past would have been considered unheard of. That’s not to say that working in real estate is easy—quite the contrary—but it does mean that it can pay off.

Becoming a real estate agent requires just a few months of training. That training can be difficult, but if you put in the necessary study time, it’s something you can get out of the way, meaning it’s a new career that doesn’t necessarily require years of additional schooling. It requires significant investments in the beginning, so you will want to store up a cushion of savings before taking the plunge. Once you have established yourself, however, it offers the flexibility of making your own schedule and limitless growth opportunities.

Childcare

In recent years, many households have become dual-income homes. With both parents working, childcare is in high demand. There are a few routes to take when offering childcare. Some people prefer to care for children in their own home, keeping the child on their normal routine under the parents’ instruction. The other option is to run a childcare service from your own home, which allows you a bit more control over the way things are run. Running a childcare service from your own home or a separate facility, however, will require you to follow strict regulations and probably get a license from the state. The benefit, however, is that you have the freedom to scale up the operation as you bring in additional clients.

Open a Franchise

One of the scariest aspects of leaving the corporate world and starting up your own business is the lack of stability. By opening a franchise, you can build a sort of hybrid business, merging the freedom of being your own boss with the security of running an established business. Most franchises require an initial investment to acquire all the requisite materials and licenses, and each franchising company has guidelines that its franchisees must follow, but it still allows the freedom of running your own business. Your success or failure depends largely upon what you are willing to put into it.

Franchises come in all shapes and sizes. Fast food restaurants like Subway and Pizza Hut are largely based on individual owners purchasing a franchise and running it themselves. Home service providers like Chem-Dry and Lawn Doctor allow individuals to open up franchises to provide carpet cleaning services and lawn care, respectively. There are several possibilities to match your work style and preferences.

Freelancing

If you have special skills or training, you may be able to capitalize on them by becoming a freelancer. The Internet has opened up a wide range of possibilities, connecting freelance workers to clients across the country, or even worldwide. One of the most difficult aspects, particularly in the beginning, is promoting yourself as a professional. It doesn’t matter how good of a writer, sound editor, web designer, or graphic designer you are if you don’t have any clients. Fortunately, there are a wide range of tools available to help you along the way. Build a website to promote yourself. Actively engage in promoting your services via social media and through word of mouth. Post a portfolio of previous work, and keep it updated. Research search engine optimization tactics in order to make it more likely that potential customers will be able to find your site.

One of the most important things to remember when striking out as a freelancer is to give your work a fair value. If you price yourself too high, then you may lose customers, but if you price yourself too low, then your customers will actually be less likely to value your work. When you are a freelancer, you’re not only an artist, you’re a businessperson. Writing, drawing, and the like are only a portion of your job.

Whatever road you end up taking, the knowledge that you are your own boss is freeing. You no longer have to feel like you’re at the mercy of a bureaucracy over which you have little influence. Take a chance, take a leap of faith, and you will be able to take control of your life.

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