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There’s a lot of information out there about what working from yourself is truly like, and not all of it applies to every entrepreneur. Whether you want to learn about becoming self-employed, or you’re already an experienced entrepreneur looking for some affirmation or clarity, here are 7 myths about working for yourself that are really outdated, and often inaccurate.
Myth #1: You’re always available to hang out.
If you work for yourself and make your own schedule, people assume that you’re always available for a mid-day coffee break or a quick chat on the phone. While this is definitely true sometimes and one of the highlights of working for yourself (flexibility!) sometimes you have to have a meeting with your team or put your head down and finish that article (me, currently!) Whatever the case, it’s best to make the boundaries clear, both to yourself and your loved ones, early on.
Myth #2: You’re self-employed, so you must be rich.
You may hear this all the time as an entrepreneur, this might be what you think will happen when you become an entrepreneur, or, congrats! You actually are rich. However, this isn’t the case for all entrepreneurs, especially for newly budding ones. A ton of money may have to be invested in your business at first. If you’re a freelancer or an influencer, it take weeks, even months, to receive the payment from a completed project you’ve submitted, which could definitely affect budgeting.
Myth #3: You’re self-employed, so you must be broke.
On the flip side of my point above, people may think that, because you’re self-employed, you’re not making enough money to support yourself. I think we know by now how much influencers can make for a single campaign, or how much photographers can charge per hour. Some bloggers make enough to support themselves and hire a team as well. The amount of money you make depends on a lot more than whether or not you’re self-employed.
Myth #4: You work in your pajamas all day.
While this may be a reality for some, this is hardly true for others. Sure, one of the benefits from working from home is that you have the option to work in your pajamas all day, but this may decrease productivity (Will you be able to distinguish bed time from work time if you don’t get out of bed and change out of your pajamas?) and, depending on the nature of our job, you may need to have a Skype meeting with a client or leave the house for a coffee chat. You may just work better after changing clothes, even if that means changing from pajama pants to yoga pants.
Myth #5: Being self-employed is easier than working in Corporate America.
As someone who has worked both for myself and Corporate America, I can wholeheartedly say that self-employment is just as challenging, if not more so. Most of the time, though, they’re just too different to compare. Every job comes with it’s own challenges, some which certain people are better suited to handle some better than others. It’s not about who has it worse, it’s about finding what works best for you.
Myth #6: Being self-employed is riskier than working in Corporate America.
Self-employment can be risky, but not necessarily riskier than any other career path. It’s very possible to get laid off of what is considered a “steady” job, perhaps unless you’re tenured. You are also in charge of the hours you work, which eliminates the risk of getting demoted or having your hours cut.
Myth #7: To start working for myself, I need to quit my job right away.
There are so many people on the Internet telling aspiring entrepreneurs that they need to quit their jobs and start working full-time as an entrepreneur, ASAP. This is advice that needs to be taken with a grain of salt and is dependent on the person and their unique situation. It makes sense to quit your full-time job if you’re making just as much, if not more, with your business, but it also makes sense to keep that job a little longer to build your savings. Carving out time outside of your day job (early mornings, nights, or weekends) to build your business is also an option. The point is, you can start working on becoming self-employed today, without having to quit your job to do it.