Written for EO by Ken Boyd, a former CPA who creates accounting and personal finance content.
“Opportunity is missed by most people, because it is dressed in overalls and looks like work.”
This quote, attributed to Thomas Edison, captures the reality of being self-employed. Working for yourself allows you to capitalize on opportunities that may not be available to you as an employee. However, seizing the opportunity may require far more work hours and responsibility than you spend at a traditional job.
That’s the trade off.
So, before you abandon life as an employee in favor of launching your own startup or becoming your own boss, consider these top realities of self-employment.