The Mindset of the Self-Employed: Are You Cut Out for It?

Jan 2
06:46

2024

Chuck Crawley

Chuck Crawley

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Every week, an astounding 125,000 individuals take the plunge and start a home-based business. However, it's a sobering fact that 80% of these small businesses don't survive past the first six months. Is self-employment truly the American Dream it's often painted to be? Let's delve into the psychology of the self-employed to see if you have what it takes.

The Perks of Being Your Own Boss

There are undeniable benefits to self-employment. Less commuting,The Mindset of the Self-Employed: Are You Cut Out for It? Articles escaping the rat race, more time for personal pursuits and family, being your own boss, and the potential for unlimited income. It sounds like a dream come true, doesn't it?

What Does Self-Employment Really Mean?

But what does self-employment truly entail? According to Webster's Desk Dictionary, 'self' refers to a person or thing considered as a complete and separate individual, by oneself or itself, a person's nature or character, independent, automatic, self-operating. If you can't see yourself in these definitions, you might want to reconsider your entrepreneurial aspirations. Remember, the harsh reality is that 80% of businesses fail within the first six months. What's your plan if you're not turning a profit by then?

The Psychology of the Self-Employed

A Complete and Separate Individual

A genuinely self-employed individual is complete in every way. They are headstrong, confident in their purpose and goals, and separate in their convictions, setting them apart from the crowd. They operate based on their understanding and beliefs, and even when the initial excitement fades, they remain guided by the big picture and continue to move forward. Success, in their mind, is inevitable.

By Oneself, A Person's Nature or Character

The true self-employed don't need to blend in with the crowd. Their vision is clear and complete. They are driven from within because it's an integral part of their nature. They take responsibility for setbacks or failures, analyze them, and use the lessons learned for future reference.

Independent, Automatic, Self-Operating

The truly self-employed know how to delegate responsibilities but will take them on themselves if necessary. They are always planning for the next step, with a viable "plan B" at the ready. They know where they want to be and have the determination and insight to get there, one way or another.

Are You a Candidate for Self-Employment?

Whether you're considering making the leap into self-employment or currently running a full-time or part-time business, embodying the above traits will significantly increase your chances of success. The real secret to success in any business can be measured by the psychology of the self-employed, and that secret must come from within. So, are you a candidate?

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