Part Five - Pros And Cons Of Self Employed Model

PART FIVE (Pros and Cons Of Self Employed Model)

What is Self-Employment?
Self-employed is a person who works for himself/herself instead of being an employee of another person or organization, drawing income from a trade or business.
Is Self-Employment for you?

Who belongs in this category?
Consultants, Doctors, Lawyers, Accountants, etc.
Do you have what it takes to be Self-Employed?

“ Self-employment” Pros Self-employed Startup Costs: Low Carrying Costs: Low Control: High Customer Base: Unlimited Multiple Income Streams: Yes

“ Self-employment” Cons Self-employed Replicability: Low Leverage: No Scalability: Limited Growth Potential: Limited Profitability: Low

“ Self-Employed” Business Model
Pros: 5
Cons: 5
Level of Effectiveness = 50% Self-employed Startup Costs: Low Carrying Costs: Low Control: High Customer Base: Unlimited Multiple Income Streams: Yes Self-employed Replic ability: Low Leverage: No Scalability: Limited Growth Potential: Limited Profit ability: Low

Analysis
Self-Employment Facts:
The common thread of all self-employed: dreaming of setting your own schedule and choosing your own projects.
The pros and cons of self-employment are often two sides of the same coin.
Independent people, like you, often relish the idea of owning a business and not having a boss.

Analysis
Self-Employment Advantages/Disadvantages:
Every client will become your boss - as will the banks and other people who provide you with funding or credit to get your business going.
Freedom of flexible hours remains a dream. In reality, you will be putting in more than full-time hours for at least the first year, as you get your business off the ground.

Quote
“ It takes more than enthusiasm and a business concept to become sustainably self-employed.”
- Johanna Kristolaitis ‘The Medium Online”

Takeaways
Self-Employment is not for everyone. It requires an independent mindset, utmost dedication, superior organizational skills, and a burning desire to succeed.

Where do you go from here?

CLICK HERE TO GO TO
PART SIX

Part Five - Pros And Cons Of Self Employed Model

by Val Slastnikov on Mar 02, 2009

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Part Five - Pros And Cons Of Self Employed Model — Presentation Transcript