Comparing a job to self-employment

Reprinted courtesy of TheCareerNews.com
DETROIT, MI — Do you want to be self-employed? Get to use more creativity? Try for financial independence? More fully draw on your knowledge and skills? The U.S. Small Business Administration lists these as common reasons for wanting to start a business. However, successful entrepreneurs typically plan their new businesses for a year or more. Would you take a small-business start-up course or draft a business plan and get an expert to tell you how realistic it is?

A good place to start is to think through some comparison questions to start making your choice between a salaried job and self-employment. Include a list of the risks involved in achieving your goal. In some cases, the risks may be small. They would involve mostly the loss of your time and effort. Some ventures, though, would mean risking your life savings, your home, pension & health benefits, or even your personal relationships.
Additionally, consider these questions. Do you have the drive and energy to achieve what you want? Do your temperament and personality match those of business owners? Many business owners work seven days a week and take years to succeed. This could be just the challenge you need at this time in your life. Alternatively if you planned, could you get a better job at your company? Or a different job somewhere else? Would the results satisfy you as much as your own business?
Article abridged from AARP, and reprinted from TheCareerNews.com. Get the latest breaking News, Tips and Tools for your job search, Free!