Dreams Of Self EmploymentMy husband and I have dreamt of self-employment for a long long time, but there have always been issues holding us back. Probably the same ones that stop everyone else who has the same dream. We have no transferable skills, no trade, no cash to inject into the business, we don’t want to put our home on the line as equity, the list goes on….. A couple of years ago I spent two years of my own time plotting and planning in an attempt to open our dream business. We tried to register the business as a charity, to obtain investments and get started. We had a team of fabulous trustees willing and able to put in their own time and efforts. However, when I submitted my applications to the charities commission, for various reasons it kept getting knocked back and in the process we lost the freedom to run the business as we wanted. The next step was all the trustees getting business loans to try and get the business plan off the ground, but like most people we all had commitments and just could not put that amount of risk into the idea. So, after two years work it fell to the wayside, we were gutted but had the knowledge that we had tried and no matter what the outcome, I have no regrets. We explored the idea as thoroughly as we could. All of this culminated from a loathing of being employed. Being dictated to by others and a feeling of not being respected and listened to. A lack of control of our working lives I suppose you would say. So, the idea of being self employed has always been a pull especially for me.
Self Employment ‘v’ Paid EmploymentThese are some of the Pros and Cons as I see them. This is not an exhaustive list these are just some immediate thoughts about self employment. You can swap round these reasons for paid employment.
|Make own decisions||You only have yourself to blame|
|No Boss||No sick/holiday pay or other entitlements|
|Make and keep your own money||Lonely|
|Make your own opportunities||The risks of loosing your own money is high|
|Your Time is your own||Have to do your own books/taxes|
|No redundancy||At the start invest more time and effort|
|Can assist with Tax breaks||Stress of all the above|
Traditional Self EmploymentPeople have a vision of self-employment as follows
- Traditional brick and mortar business – This would be a shop, cafe, or similar business. You would need a large cash injection to get this started. It has lots of overheads such as staff, business rates, insurance, utilities, rent, stock, marketing, accountants etc..
- Trade – This would be a trade or specialism that you might have. So for this type of work you will have to have some training or formal qualification, maybe employ staff, have stock or specialist equipment, marketing, insurance, again accountants.
- Other – This includes other business structures such as franchise, freelancer/consultant, social enterprise, charity and network marketing
What Did I Choose?I chose the Network Marketing route. Here are my reasons why I chose this method of self employment. Network Marketing is also known as Multi Level Marketing (MLM) or Direct Sales and is an effective and proven business model. It involves personally recommending a companies products and business opportunity. If you would like to know more about what Network Marketing is and how it can work for you the download my FREE PDF which you can access on the home page. I believe this type of business will revolutionise how we look at employment and business opportunities, certainly in the current climate of pay increase caps and redundancy risk. Who doesn’t want to earn an amount of money on the side to supplement their income? Robert Kiyosaki, the author of Rich Dad Poor Dad said “If I had to do it all over again, rather than build an old style type of business, I would have started building a Network marking business.” Bill Gates is also a fan stating “If I would be given a chance to start all over again I would choose network marketing.” For these people to consider this to be a legitimate way of owning a business means it has a great pedigree.
Real BusinessLots of people believe this is not a ‘real business’, maybe because it is not widely understood. Eric Worre, who is a very successful network marketer addresses this is his latest blog “Is Network Marketing A Real Business?” He says “So, by definition a ‘real business’ is one that provides someone with an income and that income is generated by either buying or selling.” This is certainly what network marketing is about. You will have heard of the most common companies such as Avon or the age old Tupperware. These companies have been around forever and are known for giving women in particular, a bit of extra income. There are numerous companies and business opportunities out there to choose from including:
- Health and wellness
- Make-up and skincare
- Crypto currencies