Dreams Of Self Employment

My 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 Employment

These 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.
PROS CONS
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 Employment

People 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 Business

Lots 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
  • Utilities
  • Wine
  • Perfumes
  • Books
  • Candles
  • Crypto currencies
I chose health and wellness, mainly because I did a degree  in Sport Science.  I have always had a love of health and I like the idea of natural products, so this industry fitted what I had an interest in.  I knew I could easily talk about the products and be able to recommend to my own network. I could start a bone fide business for a very tiny start-up fee with no overheads and be up and running as soon as I registered my business. Now who wouldn’t want that? I have the chance to earn some extra money whilst still working full time, until my business grows to the point that it becomes my main source of income.  I also have the opportunity to earn a residual income.  Basically, that means I have the opportunity of being paid without directly having to work all hours god sends.  In traditional employment  you are only paid for the amount of hours you work.  I now have the chance to earn a percentage of money from my team, a pay cheque for helping them start their business.  My team do not pay this, it comes from the company as a thank-you.  That does not mean I don’t have to work at all, quite the opposite, it just means that I have the opportunity of being paid for more hours than I directly have to work.  Now that idea is very appealing. Obviously, this takes lots of hard work and time, hence as discussed in my previous blog Tempus Fugit I am up and working really early in the morning, but I want to succeed and you get nothing in life without a bit of graft.

What Does This Give Me?

I work flexibly when I want in the pockets of time I have, not when a boss tells me.  I don’t have to leave the house early  to my son sat on the stairs crying for me, begging me not to go to work. This absolutely  broke my heart and crushed my soul.   I am not sat round a briefing table at 7 am, with a load of bleary eyed cops dreading the day ahead, under pressure to complete impossible tasks.  Yes, I am sat here typing this at a ridiculously early hour, but I love it, it does not feel like work and I am at home when the boy wakes up, not rushing out of the door.  We are not stressing about shift changes or childcare, everyone is happier. Ultimately, I am a business owner and entrepreneur without the massive cash injection needed to start a traditional business.  For a very small upfront fee I have a business with products ready to sell, marketing tools at hand, great training and fantastic support from my team.  The atmosphere is completely different from the one I am used to.  Everyone is positive and supportive. My team run their businesses in a completely different way to me, we are all different and have different skills, but we are all trying to achieve similar goals.  Mine are to be my own boss but also be able to work from home around the family whilst providing a good standard of living for them.  I now have the chance to earn an uncapped amount of money, unlike my old job where I would only earn more by working overtime or being promoted.   I don’t have a boss telling me how to run my business, I decide how I want it to run.

Am I Enjoying It?

On the whole I love it.  I do have those niggly doubts sometimes where I panic that I am never going to make this work, but they are short lived as I am supported by a great group of people. I don’t think I would be human if I thought everything was going to be hunky dory.  It is hard work and my pay isn’t at a level I would like right now to enable me to do this full time, but I know this hard work will pay off. This opportunity  has changed my life for the better and the great thing is, is that this is open to absolutely everyone from every single walk of life, yes even you. I am now in a team of other ex-police officers, social workers, HR personnel, people from the banking and finance industry, nurses, teachers, physios, personal trainers, stay at home mums, doctors and zoo keepers.  The people are amazing and what we achieve together as a team is unbelievable.

Could You Do It Too?

Absolutely.  If you just want an extra income to save for the little extras, or you have the drive to be your own boss then this is indeed a fantastic way of doing it. You don’t need qualifications or specific skills, you are guided and assisted every step of the way.  If you love great products and recommend them, like you would a film or restaurant, you have a business. What I would say is give yourself a chance of a better life, of a bit more cash and time freedom.  Surround yourself with  positive people  and enjoy great team spirit.  Join me, have a good time, enjoy the freedom and new experiences I have had.  Let’s enjoy the ride of life together.