There was a time when families didn’t face quite such a precarious balancing act in juggling their parental responsibilities with the necessity of keeping a roof over their heads. Many baby boomers likely remember growing up in an era where both parents could work, but they certainly didn’t have to. Working hours and pay were reasonable and the cost of living was manageable.
Unfortunately, to paraphrase Bob Dylan, the times they have a-changed!
Today, it can seem as though working parents are constantly on the back foot, struggling to make enough money to keep their finances afloat in an era of wage repression and facing punishing hours which mean they barely get to spend any time with their kids. The world of work seems unlikely to change any time soon, so perhaps it’s time for industrious parents to take matters into their own hands and lead the mass migration towards self employment.
No matter what you love doing there’s a way to make money from it
The great think about making a living on your own terms is that you don’t have to wait to be handed an opportunity. You can simply create one for yourself. You can build on what you love and are passionate about and from there extrapolate a way to make a living from it whether it’s selling your artwork on Etsy, making money from your writing activities or even grooming your neighbours’ pets. Whatever you’re good at and love doing, there’s money to be made from it and living in the digital era gives you direct access to the people who want what you have to give.
Have the flexibility to prioritise
Of course, self employment isn’t a big party where you get paid to sit in a coffee shop sipping lattes. It still involves a lot of hard work, effort and occasional frustration. Nonetheless, one thing self employment gives you that you’ll never get in a salaried job is the complete flexibility to prioritise your workload and plan your days around what matters the most… Your kids, your friends and your loved ones.
It may not be as risky as you think
Many risk-averse parents may love the idea of setting up their own business or becoming a self-employed freelancer but balk at the perceived risk. But in an age where there’s really no such thing a job security anymore, is going into business for yourself really all that risky an enterprise?
What’s more, there are many ways to mitigate risks. For example, getting a pertinent Qdos Contractor Insurance policy can ameliorate the public liability risks for everyone from electricians to media consultants. You can use affordable Facebook ads to generate buzz around your business long before you’re ready to trade. You can reduce your operating costs by scaling up your business solutions as your enterprise goes. What’s more, you don’t even need to commit to it full time if you’d rather take a little longer to grow your brand and build your audience.
You don’t have to jump in both feet first
Many freelance businesses can be launched alongside your day job as a side hustle. This will allow you to make a little extra money to use as a buffer as you build your business venture to the point where it could become your full-time profession. Just remember that all the money you make from your nascent business is still taxable, even though you pay tax at work.
Thanks for stopping by today, I run this blog alongside my part-time day job. It is possible to do both and hopefully one day I can make the jump to full-time self-employment.
*This is a collaborative post