April 26, 2016

Employed Versus Self Employed

Today I was asked a question that I have often been asked before and I think many of you may face from time to time.  I know I have asked it of myself at times.  Do I take an opportunity to be employed right now or do I continue working for myself?

If this is something you are considering you might like to see the answer I gave this person. For me this starts with looking at what you want your business to do for you, whether that is employed or self-employed. Consider:

  • What do you really want for your life? – Start with the end in mind and the big picture so you know what you do fits with that.
  • What is the nature of work? – Is that the same for both opportunities?  Are you doing what you love as if you are the rest can be fixed!
  • Who are you working with? – Do you like them enough to commit?
  • Location – Is it where you want to be?
  • Hours – Number and flexibility (if flexibility is important).
  • Rate – What do you need / want to earn across how many hours and can you provide that better self-employed or employed?

You can also play around with what is tax allowable self employed versus employed but if the answers to the above lean one way or another then you have your decision.

Don’t let money be the deciding factor – I regularly demonstrate to business owners not making what they want how easily they can structure their products or services into packages aimed at the right target customer, to charge what they want and need to and earn what they are really worth.  In fact it is a big focus on our upcoming workshop.

And if the above still does not give clarity, a more simple way is list the positives and negatives of both options and see which list is longer.

Oh yes and you also need to consider the business viability of the employer – no good giving up your business unless you know they have a sustainable business themselves!

I hope this is of interest to some of you facing tough decisions and if you want to look at this and a whole lot more, why not join us at one of our workshops.

joanne s

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