Wednesday, October 20, 2010

I will never go back to a j-o-b again!

I have been self-employed for almost 30 years now, since I was a youth. I was always dreaming up things to do to make money. I used to decorate writing paper and then package it with some envelopes and sell these little sets of writing paper to relatives and friends. Then I went to packaging dry beans and spices together and selling it in a package with a recipe at farmer's markets. I have also done tutoring, sewing, cleaning, running a hamster hotel, writing fantasy books, and a myriad of other things. I love it. I am my own boss. I wouldn't have it any other way.

Self-employment packs many benefits, including deciding your own schedule, being picky and choosy about which clients you want and which you don't, and tax benefits, of course. If you're not making enough money to warrant hiring your own accountant, I suggest you become very educated about the tax guidelines in your area: what can you claim as expenses? This is one of the big perks of self-employment. Even if you also hold down a j-o-b, you can enjoy running a little business on the side. Your business can absorb the cost of some of the things you want to have, like new technology or equipment, as long as you can show that it was purchased for and is being used by, the business.

Start brainstorming...what kinds of things would be fun for you to do and would make you extra money? Homemade dog food? Custom-made halloween costumes? Unique bridal accessories? The sky's the limit, so start writing down everything that comes into your mind. Next, brainstorm a business plan. How will you advertise your goods or services? Be careful with initial investments. Keep them small until the income from your business can support further investments.

Good luck and have fun!

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