Taking the decision to go self employed is a big one! It's a scary prospect and for most people (including myself) most of it is a complete unknown until you actually experience it. People can tell you what it's like but you can't know until you do it yourself. There are many negatives to being self employed, but (in my experience at least) a lot more positives.
Most of the points below can be both a negative and a positive, so it's really down to your own attitude as to what you take from it. I've chosen to enjoy it, so I do!
Your Income Becomes Irregular
Having a 'proper' job means you know when you're getting paid and how much. Being self employed (at least at the start) means exactly the opposite. For me, I get paid when I work. I'm quite seasonal so I get more money at certain times of the year and less at others. During the quiet times it can be squeaky bum time regarding paying the bills (which annoyingly are higher in my quiet periods). You have to make sure you don't go on spending sprees when times are good and put some away for the off season.
Your Hours Become Irregular
I suppose this depends on your type of business. If you run a shop, your opening hours are generally 9-5 Monday to Saturday. But running a shop isn't just about standing at a till. And for me it's even less regular... My
portrait and
wedding work is to the general public, so I have to fit around their free time. I find myself busier after 3.30pm (school) and after 6pm (work) for studio sessions. Saturdays are also popular so my working hours are basically the opposite of someone with a 'proper' job! Weddings are also (usually) on Saturdays, so the first day of most people's weekend is the busiest day of my week! And if I have a wedding on a Saturday, I can't do anything else, so I see people in the studio on a Sunday as well...
The seasonality of what I do means I can be working 10-12 hour days (or longer), 6 or 7 days a week in the weeks leading up to Christmas, have no free Saturdays in the summer, but then have almost nothing in January and February. My
commercial photography and
Google virtual tours level it out a bit, but not completely.
This does mean, though, that I often don't have any bookings on week days so I take my appointment free days as my weekends. I rarely get 2 together mid-week, but at least I do get some time off which I think is important. Too many people work all hours because they think they have to and run themselves into the ground. Don't feel guilty about having time off! Just don't over do it...
The real positive to this though is that my girlfriend works shifts so her days off aren't always on a weekend. So we can take a mid-week 'weekend' and spend it together at a time when places are quiet!
Always on Duty
For me the biggest negative is the fact that I'm never completely off duty. I take time off when I can, and having the studio means I can leave work at work at the end of the day. But I always have my phone on me. People don't seem to think twice about ringing at all times of the day. I regularly get calls at 8 or 9pm while I'm sitting at home or in the pub. I even had a call on New Year's Day enquiring about
wedding photography! He even seemed a little bit miffed when I pointed the date out to him and asked if I could call him in a couple of days...
But I do understand why they do it. People can't be researching and booking
wedding and portrait photographers during work hours. They come home, have dinner and sit down with a glass of wine and the laptop, find my number and ring. I always answer if I can (after losing a very lucrative wedding to someone who did pick up) but it would be nice sometimes for time off to actually be time off...
It Can Get Mighty Lonely...
I see plenty of customers and clients who are all entertaining in their own way, but for quite long stretches of time I'm on my own in my office. I might be editing photos, designing a wedding album or producing leaflets so I'm busy, but there's no-one to talk to. That's the one thing I miss about having a 'proper' job in a big company - workmates. It would be nice to nip out for lunch with my team, or have a quick pint on a Friday with the rest of the office...
But there are ways around it. I've joined a few networking groups which gives me a good social aspect to my day. Yes, they're very good for business, but more important than that, it's a few hours of social interaction with people who aren't my customers. Customers are great, but you can't have the same relationship with them as you can with a colleague or a friend...
Doing What I Love
That's all there is to it. I love what I do and enjoy all of it despite the bad stuff. I'm happier now than I've been for years and happier than I ever was with a 'proper' job! So if you're thinking of going self employed - do your research, make a plan and just do it!