Created your own Stream of Income by being Self-employed? Know the Intricacies..

in hive-175254 •  14 days ago 


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The sudden spike in creativity level of individuals during the corona virus induced lockdown makes me conclude that being an employee is a self-inflicted slavery. I was stunned when a young man who's been a Secondary school teacher called through and told me that he now sells bean flour. At first, I thought he was running a middleman sales but when he delivered my first order, I discovered that he actually produced it.

The "moi-moi and pudding I made from the flour was simply tasty and awesome. I placed a second order and he delivered just days ago. Just then, we talked a bit further and he told me the rigorous and painstaking process he follows through to manually produce his bean flour. I questioned why he preferred, he told me that he wants to sharpen his skills and is even contemplating quitting his teaching job as supply orders for the meal is getting robust by the day.

We all can attest to the fact the many lost their corporate jobs with private and some government employers during the last four months. It leaves one with the bewilderment of the whereabouts of their promised job security. Every employer had some tangible excuse to downsize.

Now, I agree with Robert Kiyosaki that "breaking away from a typical job structures and creating your own stream of income puts you in the best position to weather an economic storm, simply because you are no longer dependent on a boss or on the economy to determine your income". The revolution is that you now determine your income.

A lot of people are beginning to migrate from being an employer to financial freedom and self-determination of being Self-employed or owning a Small-business. Being self-employed though with attendant risks and challenges has proven to carry huge range of earning power, all the way from the freelance baby sitter or landscaper just starting out in life to the highly paid private-practice lawyer, consultant, public speaker or blogger on a cryptocurrency-powered blockchain like Hive, Steem, Uptrennd, etc.


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However, there are intricacies that need be understood when one becomes self-employed or owns a small business. Understanding these intricacies is crucial to a break-even and ensures a successful ride. Failing to understand also might make one crash into unforeseen debts or final bankruptcy. Note the following:

  • Being self-employed is typically a responsibility trap. You now become the Boss of the new firm created and you're still an employee. This means that you are to be lamed for all problems or ill taken decisions.

  • Being self-employed is draining. This is a difficult truth to take that becoming self-employed makes you a centre of attack by the government (taxes, levies), customer and employee. The truth is that as this stage there may not e enough time-off for family. If you do, you may likely lose ground. You have no free time because if you take time off, the business doesn’t earn money.

  • Being self-employed makes you a "Slave". Did your eye-brows raise? Yes! In a very real way, when you become self-employed, you don’t really own your business; your business owns you.

While creating your own stream of income by being Self-employed may give you freedom to operate at will, one must be guided by the fact that it's not a "takeaway". Much responsibility and dedication is required for success to be achieved. Where these demands are treated with levity, one may stand to regret that being yoked as an employee under another boss was way better.

Let's discuss in the comments section, Is being self-employed really the path to financial freedom?

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You've brought up a very interesting topic for discussion. The truth is that it's very much in context with everything that's going on today. It's complicated, I have experience with it.
About 16 years ago I started an ice cream business, manufactured and distributed ice cream. Then I worked with my brother so that I could take care of distributing them and making them because I worked in a company. Finally I did so well in my business that I ended up leaving the company and dedicate myself to my business, I was very young, and depending only on my business was good, but there are things that small entrepreneurs do not affect more than large companies. There was a big strike in my country because of political problems and many companies closed, including the sugar plant, the raw material needed for my product. I didn't get it, not in the amount I needed to produce enough profit, and I went bankrupt.
my first broken bank ha ha ha
I'm laughing now, but it was hard at the time it happened.
There are a lot of things that get out of hand, but these days there are a lot of options on the internet.

Great experience you shared here Josevas. We all need those experiences to shape us and prepare us the the future business/investment opportunities.

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Stunning write here my friend, the truth is that being employed in a place like Nigeria might never bring one any sort of financial freedom, the truth is that I have been a teacher too for more than 5 years and I could only save 100k, my health even deteriorated the more. In essence I feel I'm thankful to hive and to the the blockchain, the opportunities are boundless.

We share similar stories, however, much more value would be drawn from cryptocurrencies when we create product/service use-cases that are needed for everyday living.

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I can agree with 2 of the 3 points that you wrote... For over 2 decades I have been or self-employed, or a business owner, and I have passed through very challenging and difficult times...

I was at the moment when "my business owned me", but when I've got aware of that, I have stopped doing that business... It was exhausting, I was doing it just for money and nothing else...

But, when you do something that you like, that is your passion, then it's impossible to fall into that trap that business owns you... It's totally opposite as you don't look at your business as a work...

Thanks for an awesome post!



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I was at the moment when "my business owned me", but when I've got aware of that, I have stopped doing that business... It was exhausting, I was doing it just for money and nothing else...
But, when you do something that you like, that is your passion, then it's impossible to fall into that trap that business owns you... It's totally opposite as you don't look at your business as a work...

Thanks for that solid addition. That happens when growth is pursued intentionally.

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Self employed for gigs job is not easy for me. I just can write and always loose competition in bidding project, so self employed is not for me

Ahahaha, You stay where you're endowed

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