It May Be Time For a Work Change

Many people dream of being their own boss. The thought never seems to go away - even after years working a corporate job, the desire to work for yourself persists.

Recent statistics show this dream is becoming a reality for more and more workers.

According to the Bureau of Labour Statistics, the average job tenure for American workers over 25 was only 5 years in 2018. Additionally, freelancers made up 34% of the workforce in 2016, and that number rose to 43% by 2020, indicating more people are leaving traditional employment.

The appeal is understandable. Corporate ladder climbing is no longer seen as the ultimate career goal by many. Even those successful by society's standards - with executive titles, large teams, and six-figure salaries - still feel unfulfilled going to the same office every day. Work can leave you frustrated and angry, affecting your personal life. The corporate environment requires playing a role and hiding parts of yourself in order to fit in.

Being your own boss offers freedom and control. You get to decide when to take a vacation, your hours, and who you work with. You can be creative and inspired, without dreading useless meetings or company politics. The idea of leaving a legacy with your own business can be incredibly motivating.

However, the jump to self-employment can be daunting. Fears of failure, finances, and the unknown are normal. But for some, staying in an unfulfilling job is no longer an option - their health, happiness, and sense of purpose depend on change. The dream of working for themselves continues to persist until they find a way to achieve it.

• In 2019, there were over 31 million self-employed Americans, representing nearly 20% of the total U.S. workforce.

• Approximately 75% of self-employed workers say they are happier working for themselves compared to traditional employment.

• The average age of entrepreneurs starting a new business is around 40 years old, dispelling the myth that it's only for younger people.

• Women are starting businesses at nearly twice the rate of men, showing increased entrepreneurship across genders.

• The top reasons people want to work for themselves are to be their own boss, achieve work/life balance, pursue passions, earn more money, and gain scheduling flexibility.

• Common fears about entrepreneurship include unpredictable income, lack of employer benefits, isolation, and work/life balance challenges.

• Access to affordable health insurance, often through a spouse's employer plan or the marketplace exchange, can ease fears about leaving traditional jobs with benefits.

• Advances in technology have made it easier and more affordable for individuals to start online businesses and work virtually.

• Entrepreneurship training programs, incubators, and resources exist through organizations like SCORE and the Small Business Administration.

• Talking with mentors, developing a business plan, lining up capital, and starting small/part-time can help mitigate risks and ease the transition to self-employment.

If you feel trapped in corporate life but called toward entrepreneurship, know that you're not alone. Many have made the transition successfully. It takes courage, but the rewards of being your own boss can be immense for those willing to take the risk. With careful planning and dedication, it may be time to turn your persistent dream into a reality.

Get in touch if working from home is the change you might be looking for