by Jimmy Thiel

Created on: May 22, 2008   Last Updated: April 30, 2010

There are numerous reasons that an individual might wish to be self employed. While these reasons will vary from one individual to another, there are some that seem to be at the top of every potential entrepreneur's wish list. I will address what I feel are the top three.

First, and most likely foremost, is limitless income potential. Most work from home internet sites and infomercials refer to this as "Financial Independence". While I don't put much faith in the instant wealth concept that these types of "opportunities" seem to promise, I do understand that not having to punch a time clock has its advantages. An employee of a company or another individual who receives a set hourly amount for a set amount of hours is clearly limited to the amount of earnings he/she can earn. For this reason it is easy to see that the right person, with the right product or service, and the right attitude can earn much more than the average laborer punching a time clock. This concept, however, has an alternative scenario that one must seriously consider. Limitless income can work two ways. The wrong person, with the wrong product or service, the wrong attitude or any combination of the three may find themselves earning much less than the protection of an hourly wage. My advice would simply be to investigate your business concept thoroughly before making a large leap of faith. Be sure there is an available market for your product or service. Check out the competition within this market segment, and be confident that you are the right individual to manage your business.

The second reason I feel most people would consider working for themselves would have to be the flexibility of time. There are far to many reasons that an individual may require flexible hours to attempt to touch on any particular one. It is obvious enough however to see that self employment for and individual with this type of need would be very appealing. Be aware however that flexible hours do not necessarily mean shorter hours. In fact, most successful self employed individuals work more hours than the average hourly laborer. This probably has to do with the limitless amount of income I spoke about in the previous paragraph. Flexibility means being able to schedule your working hours around your personal hours. For example, a work at home mom might schedule her breaks around the children's school and activities. This would certainly help with transportation and child care needs. It does not mean that Mom's

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