5 Myths of Self Employment

5 Myths of Self Employment

by Diana Louis

Many people are afraid to let go of their current salaried status and enterprise to becoming self employed. This could be attributed to the horror stories about self employment. Below are 5 most discussed myths of self-employment busted.

No. 1 Myth of Self Employment – No guaranteed income

There will be no guaranteed income if your business is failing. However, if you have a great business plan, proven statistics and well researched market. You should see consistent stream of income coming in.

No. 2 Myth of Self Employment – Require huge Capital

The capital outlay will depend on the nature of business you are getting into. Not all business will require large capital outlay. If you are venturing into online businesses, minimum capital is required. With online business you can eliminate the need for a physical store, saving on the rental expenses.

No. 3 Myth of Self Employment – Thriving business = lesser time

It all boils down to time management. With a thriving business and increase cash flow you will are able to acquire more resources to hire more people, buying time with money. You would be able to spend more quality time with your family. If you are an internet entrepreneur, time would be more flexible as you would be able to complete your work with your mobile device remotely at your convenient location. You have the flexibility of going to the office when necessary.

No. 4 Myth of Self Employment – You are the boss, you have the say

This is true to some extend, you will have the last say of most decision of the company. But in order for the company to be functioning well, it is good not to be too complacent and be open to your staff’s opinions. Most companies adopt open office concept, forgoing the traditional hierarchy structure. This is to encourage innovation, idea sharing and open communication.

No. 5 Myth of Self Employment – You need to be smart to succeed

That person must be smart, clever or some other traits. In reality, these entrepreneurs are not geniuses or professors, they succeeded because they have a strong belief in their business and have the desire to make it work. They find all sorts of way to keep it going, if they are not good at programming, they hire a programmer. They are not good in selling, they hire salesperson.

Hope the above busted myths will give you an idea of how self employment is like. Depending on the type of market and product you select to do your businessScience Articles, the problems you encounter will be different. It is important to select the right market to work on.

Source: Free Articles from ArticlesFactory.com

You can find out more about being a successful internet entrepreneur with www.guaranteedinternetincome.com.

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