We’ve all thought about working for ourselves and imagine the freedom and flexibility that comes with it whilst still bringing in all the money we could ever need. However, working for yourself isn’t as easy as a lot of people think.
It’s a great step for anyone’s career, but don’t sign up for it unless you know exactly what you’re in for!
Here are some of the ins and outs of becoming a contractor, helping you to decide if this is a path for you.
You Can Work With What You Want
Your skillset will define the work you’re able to do, and thus how much you like your job or chosen field will define your skillset.
That means you’re allowed to pick and choose from the jobs in your area to make sure each one is a good fit for you!
No one can make you take a job, and if you don’t enjoy something, the possibility can go straight to the bin.
Focus on what you want to do and redefining your skillset every now and then.
The market changes regularly, so keeping up with the products and services people want is necessary to make sure you’re still hirable. That’s where a bad side comes in…
Clients Define The Terms
Becoming a contractor rarely means you’ll have job security. Although you could put a positive spin on this, with the fact that people like you will be in high demand and outsourcing is more and more popular nowadays, it rarely feels positive in practice.
If you make a mistake or your work isn’t up to a client’s standards, even though you did exactly what they asked of you, you can get penalized for it in a variety of ways.
Whether you lose the bonus they promised for a good job, or they simply move the work onto someone else, making the money you need to go home with can be quite hard.
You’ll Need A Whole New Level Of Insurance
A lot of administration goes into working your own business, and being a contractor requires you to do it all alone. Of course, you can hire an accountant to help you with the finances, but you’ve got to be able to balance the books to make sure you can afford their services as well.
Your insurance needs to cover you and your operations, and finding the right option for you can take time and information available can be very unspecific! Thankfully, services such as Qdos Contractor Insurance exist to make obtaining it a lot easier. Look into businesses like these for easier operations and a little weight off of your shoulders.
If you can deliver on deadlines and garner good results from what you do, you’ll gain a good reputation and often be passed around by companies for your services. But of course, this is all your choice at the end of the day! There’s both pros and cons of being a contractor, so think about it for yourself.
Question: What means to you being a contractor? You can leave a comment by clicking here.