Should i be self-employed? | Online-Education.net Career Counselor

Question:
Dear Guidance Counselor,

I am finishing my liberal arts bachelor?s degree soon and thinking about my career path. I believe that someday I would like to be self employed, not sure if I want to be an entrepreneur, but I could run my own business in some way maybe. What are your thoughts on that? How do I know if I am cut out for self employment? Are some people better at it than others?

Sincerely, Jim

Answer:
Dear Jim,

This question is an interesting one for people to think about before they jump into the risks and rewards of self employment. The more common career path for someone out of college is to become employed at an organization; perhaps a business, educational center, human services agency, and so on. Some companies are global and very large, others are mid-range, and of course there are small ones, too. You could even find yourself employed at a family owned business with just a few employees.

Employment in an organization

The advantage of being employed by an organization is that for whatever your career, there is already a structure in place. On the financial end there will be a salary and perhaps benefits such as health insurance. There is a job description, a supervisor (generally), specific responsibilities and expectations. Many jobs can only be done as part of a group, company, or organization. For instance, you won?t find a self-employed fire-fighter!

Self employment

However, many types of careers can work for both self-employment and also working for others. Accounting is a good example of this kind of job. As an accountant, you might choose to work for an accounting firm, in an accounting department in an organization, or in your own business. Writers, musicians, teachers, business owners, psychologists, social workers, literary agents, architects, graphic designers, computer programmers, and lawyers might similarly choose to either work for a company or agency, or to start their own practice.

Here are some questions to consider about your personality style: Do you like a defined structure or are you comfortable with ambiguity? Do you like to work independently or as part of a team? Are you comfortable with risk? Do you have good self management skills? Are you willing to do what it takes?

People with a personality oriented towards self-employment tend to thrive on risk, have good self-structuring skills, are autonomous and independent, can tolerate ambiguity, and are willing to work hard for their business.

On a practical level, you will also need to assess your financial and educational resources if you choose to become self employed. Do you have the right credentials, licensing, and experience for the field you are choosing? Service professions such as psychology, accounting, social work, consulting, and tutoring might not have as much overhead costs as say, starting a franchise, but you must have the proper training and credentials.

If you are going to be self-employed in a business that focuses on products, you will need to assess your costs. Local courses at a community college or library could help you learn how to create a suitable business plan.

In summary, there are some wonderful advantages of self-employment. It can be a thrill to be your own boss. On the other hand, there is a steep learning curve and you will be challenged to become comfortable with risk, ambiguity, self-reliance and self-structuring. Perhaps having a mentor or coach would be helpful in your journey.

Good luck in your career path.

Tags: bachelor's degree, career path, self-employed

Filled Under: Finding the Right Career - Karen Jo @ April 2nd, 2012 No Comments

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