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5 Reasons to be Thankful for Self-Employment
Thanksgiving is an occasion to reflect on all the things in our lives for which we’re grateful, and share that gratitude for the people who have helped to make it all possible. This year, as small business owners adapt to great economic and social challenges posed by the pandemic, the National Association for the Self- Employed (NASE) offers five big reasons you can be thankful for self-employment.
1. You are your own boss.
Even in tough economic times, independence is one of the biggest blessings of owning a small business. Being your own boss means every bit of work you do is for yourself.
You own your own time. No one tells you what to do, and no one places limits on your potential. Your time is your own, and that means your earnings are your own, too. With that freedom comes the responsibility of being self-motivated, of course, but it also means the sky’s the limit.
You define your skillset. When you work for yourself, you own your intellectual property and talents. You also define what those talents are, both by honing your professional skills and by recognizing the strength of “real world” experience beyond formal education.
You call the shots. What’s more, being your own boss means you make the rules. No dress code, no timecard, no requests for vacation days. When you’re working on the clock for someone else, important family events and even basic self-care take second place to the demands of the company. Working for yourself means putting your priorities in proper order.
You can take risks. If you believe in yourself and your vision, that’s the key to making it happen. No supervisors and bosses and boards to convince, no begging for budgeting and buy-in; if you want to make it happen, just roll up your sleeves and get to work. Whether you’re a freelancing contractor or a small shopkeeper, building a small business on your own terms is empowering and liberating. There’s a lot to be thankful about when it comes to being in charge of your life.
2. You have amazing customers.
When you’re working for someone else, you may find yourself dealing with prickly clientele who, through no fault of your own, see you in adversarial terms. Tough client relations are a regular source of stress among workers in sales, customer service representatives, and retail. What’s worse, when relations do go sideways between a business and client, it’s often employees – not the boss – who end up bearing the brunt of a customer’s dissatisfaction. Friction like that isn’t just bad for your career. It’s bad for your health.
You decide who to work with: While a small business owner can’t prevent all friction between themselves and their clients, they have a lot more control over who they take on as clients in the first place. Freelancing and small business contracts are about mutual agreements, not compulsion. Clients choose you, and you also choose them. Choosing your own clients can head burnout off before it ever sets in.
Value-based, respectful relationships: You can build your business on your own ethics and goals, and take on clients (and vendors) that align with your vision. As a result, a small business relationship is a lot more like a partnership. Independent businesses often develop long-lasting, respectful relationships with their customers forged on collaboration, loyalty, and trust.
Variety of services: Another plus in the clientele of a small business is project variety. Your business from day-to-day is built around the custom needs of your clients. That means less monotony and more engaging work!
3. Your work-life balance is (really) realizable.
In the past couple of years, millions of Americans joined the ranks of the work-from-home workforce to find a mixed bag of positives and negatives.
For some, the overly long office meetings were replaced with overly long emails and Zoom calls. Some appreciated cutting the commute out of their day, while others just filled that extra time up with more work. Some enjoyed spending more time with their family; others were overwhelmed with the needs of homebound school-age children. Some simply found they missed the social aspect of the workplace.
One thing that’s clear from the pandemic’s massive work-from-home social experiment is this: If you’re not working for yourself, you’re not enjoying as many advantages of remote work as the self- employed and small business person.
The much vaunted “work-life balance” is more realizable when both aspects – work and life – are actually under your control.
Being self-employed means being the master of your own schedule. For the independent business owner, working from home means getting up and walking away from the computer screen when you need it. It might also mean working early in the morning or in the evening, when it’s most convenient for you and the rest of your family.
Work from home – or not! Flexibility can also mean working away from home. Maybe that means an office, and maybe that means taking your work on the road.
Take your show on the road. In fact, small businesses are increasingly experimenting with the delivery model of service that once was the domain of plumbers and pizza places. Now, accountants, financial advisors, beauticians, and others are making house calls.
Bon voyage! Beyond your own community, self- employed people have almost unlimited mobility. The internet allows us to find clients all over the world, and do work all over the world. For you, that might mean the coffeeshop a short walk your home. It might also mean the coffeeshop a short walk from the beach.
4. You determine your own future. Beyond the independence of day-to-day work, a small business grants you the possibility of determining your own future. Working for yourself means carving out your own career path and even creating the foundations for a business that your family will carry on after you’re gone.
You’re in charge. To be sure, there are risks. Nothing is guaranteed in self-employment: no one is putting money away and planning for your retirement but you. But unfortunately, playing it safe with payroll employment doesn’t always translate into secure retirement, either. Millions of workers have dedicated decades to companies that have turned around and yanked retirement pensions out from under them. A small business owner plans for their future with clear eyes about their own responsibilities, relying only on themselves.
No regrets. Working for yourself is about pursuing your passions in your active working life, not delaying them until you’re all done with work.
Self-employment means you never look back and regret a chance you didn’t take.
5. You have help.
When you launch your own independent business, it can feel like you’re stepping into unknown territory. But you aren’t alone.
Local resources: Your local business development center, small business and trade associations, and other small business owners are right there with you. They offer a wealth of wisdom that will help you find low-cost vendors, small business loans, and other invaluable connections.
National resources: Beyond your community, resources like the federal Small Business Administration (at sba.gov) and NASE are focused on answering your questions and connecting you with business support. NASE membership includes 24/7 access to experts to answer questions about taxes, law, accounting, and more. Learn more at nase.org.
Show gratitude for the little things. Your friends, family, and community are also there to cheer you on, support your decisions, and watch you thrive. This Thanksgiving, take a moment to reflect on all the ways your social support system has helped you grow your business. It’s not always flashy. Because they come from the heart, some of the most meaningful forms of support can almost escape your attention.
Advocates come in many forms. Maybe you have friends who share your social media posts. Maybe you’ve got a few golden customers who praise your services and send new business your way.
Or maybe your spouse or kids have taken over some of the household chores you used to do so that you can focus more on growing your business in the evenings. The little things that our loved ones do every day add up. On this Thanksgiving, take stock of these blessings and show your gratitude.