Self Employment…Investing in Oneself

Business owner

Either you are someone who works for a multi-national company or someone who just retired but yet not ready to stay at home for the rest of your life, you surely have come across some ideas for a business which you want to own all by yourself. Starting new businesses is a good step forward, which will always show how hard working that person who owns the place is, and how successful he/she had become. Being self employed is not an easy task, but when one puts his/her leg into this world, the tougher tasks seems less hard.

A self employed is the person who is working for himself/herself without being under the pressure of working for someone or some company that pays him/her a monthly salary. Self employment requires a lot of understanding before one goes into that road, because being self employed can be a wide concept which is being used to refer to those who opened their businesses down the streets, and those who started their own thing from their homes.

Self employment ideas:

There are several ideas which might be implemented in the world of self employment and its businesses. There are different reasons why people decide to depend on their talents and start their own businesses. These reasons might be a person who got retired, a woman who just gave birth and need to start doing something right from her home, and it might just be for the person’s interest in what he/she is going to open.

There are different self employment ideas for a mom who wants to work from her home, like:

  • Depending on her writing or other artistic talents

Your writing talent can always bring you some money, and other times it might not. Being someone who is able to think about topics, focus on them, and then formulate good articles about, is just one good reason to use this talent and start your own blog. Blogs don’t usually bring money, they are mainly made for people to share their writings and talents and get themselves known especially with the remarkable growth of the social media world. Sometimes when people succeed in getting their words read, people start sharing their articles on their websites and pages, and that way, the writer will get paid for his/her pieces.

Artistic talents might vary; drawing people might be one of them, or even creating your own designs. Publicize for yourself on the internet, let people know that you can do them some drawings or even design them an identity for their new businesses with less amount of money than what big advertising companies take yet with a good quality. Art does have different types; it might be in sewing some fashionable items, doing some handmade stitch work, or even making jewelry. All these artistic talents can turn your passion into a self employed business.

  • Making use of her cooking skills

All the moms out there have already gone beyond the basic cooking skills which everybody knows. Some managed to have their own cooking recipes, while others are just the ordinary chiefs who are found in any home kitchen. Those women who made their own recipes know exactly how to get themselves excited throughout their days, by being in a kitchen. This cooking talent might be an excellent example for one of the self employment jobs from home. Cooking can be started from home, the woman can even start by taking orders from her friends or family members, make them cakes for their special events, and get them amazed by the delicious food which she cooks.

For a mom to start her own cooking business, it is better if she had any previous courses in the field, because the way food is delivered, along with its packaging and other factors related to the way the dishes are made, is important to guarantee that customers will always come back.

  • Getting back her background knowledge

Every person has gone through different lessons in life from which he/she have learned something new. This is not only about life lessons, but the women should go back to what she have learned in college and in here previous positions and start benefiting other people from her knowledge. Starting a consulting business in the field which you are experienced in is a good self employment idea, because a lot of people don’t want to enter the hassle of facing some problems in a field which they might know nothing about, so eventually they will turn to people like you.

Just remember that you are still not famous so you always have to provide people with any evidences that you have previously succeeded in what you are doing, either by showing them your previous work, or letting them have a look at some documents.

  • Putting her hobbies more into focus

The self employment jobs for a mommy are numerous, because the online world is making everything easier in this century. We all have our hobbies, but we have never thought about using them in starting our own businesses, nor did we even ever think that they might be a tool that brings us some money. Hobbies might be helpful in such cases, if you happen to be someone who loves to make jewelry, you can always sell them and even if you are still not ready to get rid of your own handmade things, you can still manage to make tutorials for people so they can know how you managed to make such a beautiful piece.

Hobbies might vary; some people find their interest in sports and getting fit so they can share videos of good exercises for people who want to lose some weight. A person might be interested in decorating cakes in a way which is error-free and can be easily done, so they can also manage to make videos for such things.

  • Sharing some of their travelling experiences

 Who might not be interested in travelling? I guess no one, but in order to start your own travel planning business, you should be someone who have been to different places, witnessed different cultures, and knows way beyond what ordinary people know. If you have mastered the art of travelling before, so get the travel guru from inside you and start making good plans for people so they will have nothing more than just to go and book the flight tickets and the hotel rooms.

In order to be a good travelling planner, you should be someone who is considered a good researcher before being someone who have been to these places before, because when you write down a plan for someone, you should give them evidence from the internet that those places do really exist and are beautiful just the way you are describing them.

Self employment retirement plans:

The problem of being self employed comes when the person forgets to pay attention to his/her retirement plans. Being a self employed person is good in its own ways, like you will always be able to skip office for one day, work from home whenever your mood is not calling for a work from office day, and you can always take longer vacations than the one you were used to take when working for someone else. Aren’t all these reasons great to make those who have some ideas for entering new self employment careers, work even harder to get their ideas implemented in the real world?

According to the Kauffman Index of Entrepreneurial Activity, it was found that 0.34% of American adults created a business per month in 2010, and they were not only young people, but it included the activity of those who their ages fall between 35 and 64 years old.

The biggest mistake which many of the entrepreneurs make is not having a retirement plan which they follow, sometimes it is really hard for the person to put aside some of the income which he/she makes out of the business, even if it is tax-deferred. Business owners should always think about the times when they might need to pay from this money when the business is not doing well, or when customers are not paying in their expected times.

The most common reasons why a person might not be saving some money for the retirement might be paying off major debt, paying for the business as well as the health expenses, lack of steady income, or paying for the education expenses.  In order to try and save some money for your retirement, there are three known options which you might choose from:

  • Solo 401(k): the solo 401(k) is mainly reserved for the business owners who are working without employees, so they can get a contribution as both the employer and the employee, giving you higher limits than other saving plans.
  • SEP IRA: SEP IRA is suitable for both the business owners who are working alone, and the ones who have people working for them as they can contribute up to 25%. It is considered an easy way since it can be done from almost any bank or brokerage firm, in which the person just goes and opens one. The reason why many people use it as a kind of saving money when they are working alone is that the one who contributes to the plan is the employer and not the employee, so whenever the employer do contribute, he/she should also contribute for all his/her employees.
  • SIMPLE IRA: the SIMPLE IRA is similar to the SEP IRA only in one different thing, which is it offers the employees the ability to contribute along with the employers. Although the employer will have to contribute a 3% for each of his/her employees income for each year’s plan, 2% if that employee did not contribute to that plan. 

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