Experience is a very good teacher ... little you can think of, but oh soooo true. Many have entered (like me) self-employed with big plans to conquer the market and make more money. We can say that these goals are far-reaching, but there is a lot going on between the time you start and the time you can reach these goals. I would like to share and hope to share with you the Best Reason for Self-Employment. Before we disclose this fact and offer some practical suggestions on how to prevent it, let us briefly consider why people choose to work for themselves.

Why Do You Hire Yourself?

Things that make you go hmmm ... What a wonderful song from the 90s and a good explanation of why people choose independence. I'm sure I can confirm this with SBA data or other small business statistics, but just because of working with small business owners and emerging entrepreneurs over the past decade, many wanted to become their own managers. Before I set out on my own, I would say, yes, that's a good reason to work for myself. However, after working and caring for a small business, I now have a little heart to quote a big zombie. I have found that being your manager can be as difficult as 10X as working for a project manager because unless you are a natural person with good planning skills, the road for a small business operator can be difficult. In addition to dealing with you, you should also do a lot of work at least with a little bit of quality just to hold things together. I hear some readers out there think that the internet and various forms of technology are making things easier ... not so much. Yes, it probably increases productivity and efficiency, but hey, work is a job no matter what platform you do it on. Now, let's talk about the leading cause of failure.

Failure to Hire Your Number

Lack of understanding of a basic business contract. Yes, it is shocking, isn't it? Let me explain. When most people decide to start a small business or self-employment, they focus on creating a widget and/or providing a hungry market that is willing to pay $$$. Undoubtedly, I agree, it is tempting to fall head over heels in love with $$$ before considering the cost of doing business. Yes, my friends, there are costs to every business transaction and the rules that govern them. Why do you think that most business deals between family members without using a contract usually separate and create a split?

The main weapon one has for self-employment is a business contract and for good reason. Before doing business, there should be a relationship between the seller and the customer/client. One of the most important clauses (geez, I am starting to sound like a lawyer) in a business contract is the scope of the definition of services because in this section you tell the client what you will or will not do to get $$$. Hopefully, without this clause, you put yourself in an awkward position and possibly a failure. There needs to be a clear understanding of what you will and will not do, but also the terms of the business transaction. In other words, you need to be clear about how often and how long it takes to provide widgets and/or services as a business owner.

Here is timely advice on understanding the basics of a business contract: Never avoid leaving work if the terms do not wake you up and your business. I know ... it's hard to turn down $$$ especially when it's needed. Also, trust me on this. Every $$$ is not good money and there is more chance of getting a business than you know.