The 10 Most Important Lessons I Learned When I Decided to Work for Myself

The 10 Most Important Lessons I Learned When I Decided to Work for Myself After spending ten years in the corporate world, I finally decided to make the leap and work for myself. Over the past five years, Ive created a successful business and could notlage be happier. As Ive reflected upon my time as a self-employed writer, Ive realized what its taken to get me here. Below I list the ten fruchtwein important lessons Ive learned since becoming my own boss.1. Life insurance is a must.When I left my employer, I left behind all my benefits, including fantastic life insurance. Over the course of the first few months, I didnt consider life insurance to be a necessity. However, I soon realized that I needed the peace of mind of knowing my husband and children would be financially taken care of, if something happened to me. I went out and purchased a policy the next day. There are many advantages and disadvantages to life insurance, but as a breadwinner, I decided that I needed that comfort to take care of my familyshould the unexpected happen2. Dont forget health insurance.Not only did I put off buying life insurance, but I also put off enrolling in a health care plan. I didnt realize how much Id miss a group health plan. When looking at different health care plans, I found some providers were better than others. Take a look at the best insurance providers for the self-employed.3. Roll your 401(K) into an IRA.One of the things I worried about when leaving my employer welches my 401(K) account. I was scared of losing everything I had saved for retirement, once I quit. Luckily, the benefits of rolling my 401(K) into an IRA account allowed me to keep investing for retirement. Not only could I keep saving, but I also had more options. An IRA account gave me more investment options and flexibility.4. Managing your time is crucial.Being your own boss is great. situation my hours and being able to take time off whenever I needed was exactly why I decided to go rogue, in the first place. However, when I first started working for myself, I strugglumineszenzdiode managing my time. I concluded that if I wanted to be successful at home, I needed to make some changes. Cutting out social media, using online time management tools, and setting up an actual work schedule helped me stay on top of my work and make better use of my time.5. Eliminate distractions from your workspace.Working from home can get distracting. There were times that I would do a load of laundry instead of answering an emailmaybe take an hour to declutter my daughters closet. Recognizing that I was getting distracted by things around my house led me to remove myself from any distractions during working hours. Instead of working at my kitchen table, I started working in my husbands study. I would shut the door after dropping my kids off at school and just work. Eliminating those distractions helped me focus and made me more successful.6. Learn how to delegate.Before I started working for mys elf, I had an employer who delegated tasks. Suddenly, assigning tasks was my responsibility, but I was unsure and unwilling to distribute work. I wanted to take steps to efficiently delegate, so I started small. Asking a financial firm to handle my taxes and freelancing a few blog articles out every month helped me focus on more important tasks. 7. You cant avoid taxes.The only thing I miss about being employed is not having to worry about taxes. Becoming self-employed meant that was now my responsibility. I discovered plenty of ways to manage my taxes after becoming my own boss. I set aside money each week to cover my tax fees. I also save every receipt and am diligent with my bookkeeping. Now, when tax season comes around, Im a lot better prepared and less stressed.8. Balance work and life.Balancing my work life and my personal life became significantly harder when I first became self-employed. I was busy and paranoid I wasnt doing enough to ensure the success of my business. That led to the neglect of my family, my home, and my hobbies. Finding balance meant becoming more strictnot with working, but being mindful of my familys needs. At night, my laptop remained in my office, and my phone was turned off. I set aside a few hours every night to spend with my family. Those few changes led to a more balanced, happy work and home life.9. Be a good boss.Sometimes I forgot that I was my own boss, which meant there were times I didnt treat myself like I should. My first few business trips were spent in cramped motor hotel rooms eating crappy, fast food and taking the cheap flights in the early hours of the morning. No good boss would expect their employees to do that, so why was I doing it? I learned to treat myself like I expected a good boss to, and it made all the difference. I was happier and more productive, which lead to more success.10. You reap what you sow.Perhaps the most significant lesson Ive learned while working for myself is that success depends on m e. If I slack off or waste time, it is my own pocket Im stealing money from. Additionally, I learned that Im only accountable to myself. Reaching my full potential and and ensuring the success of my business is entirely up to me. These ten lessons Ive learned havebeen well-earned. It was a little rough at first, but Ive slowly learned how to manage my time, be efficient, and take care of the leg work necessarywhile still enjoying theperks of being self-employed.