In recent years, an increase in individuals choosing to work independently rather than seek employment with large corporations has been witnessed. While it brings many benefits in terms of flexibility and initiative in work, it also brings a variety of difficulties, specifically financial instability and a huge workload. This essay will explain about these problems and suggest some practical solutions to tackle these issues.
One fundamental problem for those running their own businesses is ensuring financial stability. Due to be independent employers, their source of costumers may be limited when compare to other large companies, particularly in the early stage of their businesses. This leads to unstable income from month to month, creating pressure and challenges in living costs. For example, in the first month of a new freelancer, he only earns 3 million while the standard of living is 8 million. Another challenge self-employees face is the sheer volume of work. Unlike an employee in a large company who has clearly assigned tasks, these individuals must handle all important tasks themselves, including marketing and customer service. For example, an individual motel owner must perform a huge amount of work at once such as contacting customers, arranging schedules, checking bills, and managing rooms. This requires a broad skill set, even a gap in knowledge can affect that business.
To address these problems, many effective solutions can be implemented. One of them is entrepreneurial networks and associations, such as startup incubators and local business clubs to attract more diverse customers. Participation in these business clubs helps to expand their social circle as well as increase beneficial relationships. From there, self-employed can improve their financial resources. Another important solution to help entrepreneurs develop their businesses is to recruit suitable individuals to assist in their work. By assigning each important task to their employees, they can focus on more decisive tasks, leading to more efficient business growth. For example, an advertising company owner can find consultants or people with experience to assist in marketing and customer service, while the employer only needs to manage and complete the projects thoroughly. Therefore, recruiting more employees or finding support people will be an ideal solution to help self-employees overcome the work crisis when working on their own.
In short, while becoming self-employed can face many challenges such as financial resources and a heavy workload, these barriers can still be handled effectively. By joining reputable business networks and finding the right supporter, individuals running their own business can still succeed and grow.