The pros and cons of working as an independent contractor
The pros and cons of working as an independent contractor
Pros
There is a lot of upside in working as an independent contractor. You can set your own hours based on how much time you want to dedicate to working. If you elect to work through a temporary agency, you will have the opportunity to work a number of different jobs. If you decide that you want to try your hand at a home based business, you can do that as well. You now control your own destiny instead of leaving it up to the big shots upstairs!
If you are set on being an independent contractor, you can pick and choose what jobs you want to work. You have unlimited opportunities for growth - you are limited only by yourself. You can elect telecommuting for one or more companies. You can start your own freelancing business. You can work from your home (in your pajamas) if that is what you want to do.
Being an independent contractor means you set your own schedule. If you want to start working at five o'clock in the morning or you prefer to wait until five o'clock at night, that is your option. If you want to work one day a week or seven days a week, you have that option available to you as well.
As an independent contractor you get to decide how much you get paid! You are not worried about raises or bonuses as you now create your own. You and you alone have the opportunity to decide what your financial future holds for you.
All of these are some of the pros of working as an independent contractor.
Cons
Although some people will tell you there is no downside to being an independent contractor, there are a few! One of the biggest downsides of course is how to stay motivated. If you are a self driven person then this is not an issue. You know what your strengths and weaknesses are and can work around them.
One of the cons of being an independent contractor is making sure you have enough work. In order to keep your financial house in order you understand that you need to work a certain number of hours each week. As an independent contractor, you do not have a guaranteed set of hours.
As an independent contractor you are responsible for your own "benefits". You will be responsible for paying taxes, maintaining health insurance and life insurance. All of these are taken care of for you if you are working for someone else.
If you get sick, you have no sick days. Depending on your work load, you may find that regardless of how bad you feel, you still have to work.
These are some of the cons of being an independent contractor.
Summary
Whether you are currently employed or you are unemployed and considering working as an independent contractor, you should carefully weigh the pros and the cons. Making the decision to work as an independent contractor means you are wise enough to measure the pros and cons.
The pros and cons of working as an independent contractor - To learn more about this author, visit Doreen Martel's Website.
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If you're one of the millions who has lost their job during this economic crisis you might be considering freelancing. As a freelancer, you are going to be classified as an independent contractor. Before you get started, you should be aware of both the pros and the cons of working as an independent contractor.
Pros
There is a lot of upside in working as an independent contractor. You can set your own hours based on how much time you want to dedicate to working. If you elect to work through a temporary agency, you will have the opportunity to work a number of different jobs. If you decide that you want to try your hand at a home based business, you can do that as well. You now control your own destiny instead of leaving it up to the big shots upstairs!
If you are set on being an independent contractor, you can pick and choose what jobs you want to work. You have unlimited opportunities for growth - you are limited only by yourself. You can elect telecommuting for one or more companies. You can start your own freelancing business. You can work from your home (in your pajamas) if that is what you want to do.
Being an independent contractor means you set your own schedule. If you want to start working at five o'clock in the morning or you prefer to wait until five o'clock at night, that is your option. If you want to work one day a week or seven days a week, you have that option available to you as well.
As an independent contractor you get to decide how much you get paid! You are not worried about raises or bonuses as you now create your own. You and you alone have the opportunity to decide what your financial future holds for you.
All of these are some of the pros of working as an independent contractor.
Cons
Although some people will tell you there is no downside to being an independent contractor, there are a few! One of the biggest downsides of course is how to stay motivated. If you are a self driven person then this is not an issue. You know what your strengths and weaknesses are and can work around them.
One of the cons of being an independent contractor is making sure you have enough work. In order to keep your financial house in order you understand that you need to work a certain number of hours each week. As an independent contractor, you do not have a guaranteed set of hours.
As an independent contractor you are responsible for your own "benefits". You will be responsible for paying taxes, maintaining health insurance and life insurance. All of these are taken care of for you if you are working for someone else.
If you get sick, you have no sick days. Depending on your work load, you may find that regardless of how bad you feel, you still have to work.
These are some of the cons of being an independent contractor.
Summary
Whether you are currently employed or you are unemployed and considering working as an independent contractor, you should carefully weigh the pros and the cons. Making the decision to work as an independent contractor means you are wise enough to measure the pros and cons.
The pros and cons of working as an independent contractor - To learn more about this author, visit Doreen Martel's Website.
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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