Considering Self Employment?

In another recent survey, potential work at home people were asked why they would consider self employment.  Below are some of their responses:

“Yes. Being my own boss is appealing.  On the other hand, the risk required is frightening to me”
“Yes, because I enjoy creating things.”
“Having been self employed for a number of years, I understand the opportunity and responsibilities.  At present stage, I need to have something that I can count on to move forward in my living situation.  As such, working a 100% commission or self employed status without a steady stream of income is not practical.  However, once that is achieved, I am convinced that we all need to be pursuing multiple streams of income as nothing, I repeat, nothing is guaranteed.”
“Yes…would love to work from home”
“Yes and no.  My current financial situation requires that I focus on a “”steady job,”” but I am looking at alternative streams down the road.”
“Yes, I’m registered disabled in the UK and have disabilities that prevent me going into a normal office environment. Rather than rely on benefits, I choose to be self employed.”
“Yes, I would like to start my own business, but I fear that I would not have the necessary skills to be successful.  I would actually consider self-employment on a part-time basis if that is at all possible.”
“yes because childcare is to expensive and I needed to be able to be my own boss and work when I can instead of a traditional schedule.”
“Yes.  Ownership opportunity. A home based business would allow me “”my time””, self management.  Tired of working for others.”
“Yes. Appealing for flexibility and potential income.”

The reasons  are common and not surprising.  A healthy mix of desire for flexibility and a need for additional or supplementary income.  These are offset however, by obvious concerns about risk.

Regarding risk, as one quote pointed out –  “..nothing is guaranteed…” – a lesson many of us learned during this prolonged recession.  Ask yourself one question: Which is riskier?  The probably of a layoff or controlling ones own destiny via self-employment?

At present, those unemployed are competing against many millions of other Americans for the same jobs.  Every opening has more or less 100 applicants.  This translates to a 1% chance of landing a traditional job now as opposed to 100% chance of starting one’s own business.

We’ll ask again:  Which option is riskier?

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