5 Ways to Be Your Own Boss

5 Ways to Be Your Own Boss

Perhaps you abhor your boss or work hours that don't allow a proper work-life balance or earn a salary that's far below your expectations. If this describes you, chances are you've looked into starting your own business. However, finding a way to begin your occupational independence isn't as easy as it sounds, even if you have the idea or the capital already in place. To start your journey toward flexibility, higher earnings, and success, here are a handful of ideas for you to become your own boss.

Join the Sharing Economy

If you're apprehensive about your cash flow as you transition from employee to boss, you may want to get your feet wet by joining the so-called share economy. By renting out rooms in your home, becoming an Uber/Lyft driver, or providing your skills and expertise for jobs on TaskRabbit or Wag!, you can set your own hours and make some scratch in the process.

These sharing economy companies are also ideal ways of testing out potential job opportunities in the future. If you've dreamed of starting a painting company or running a bed-and-breakfast, you can get a feel of what it's like to run the business on a smaller scale before committing to it.

Multilevel Marketing

Another foolproof way to earn what you want and set your own hours is by working with multilevel marketing companies. These companies market goods directly to consumers, offering you the opportunity to snag a percentage of the sales. For example, Amway allows you to set your own schedule and enjoy an earnings potential far beyond that of many other positions. The more you earn, the greater your chance to earn even more money while working fewer hours. 

Videography and Video Production

The growing popularity of YouTube and other video-sharing websites has created a niche market for those handy with a video camera or who have strong video-editing skills. If you've already gained experience by creating your own videos and uploading them to YouTube, companies may want your services. By creating videos or editing content that's already been shot, you can create a marketing medium that's cheaper than most other types of advertising. With the reduced cost of advertising, companies are willing to pay more for videography and production experts.

Buying and Selling

Do you have a keen eye for deals, steals, and bargains? If so, you might find that buying and selling goods is the ideal way to make a living. By researching the latest fads in decor, collectibles, or memorabilia, you can scour eBay, Craigslist, and even yard sales to find discount or rock-bottom prices on the things that other people want. Once you find your buy, you can flip the product on one of the same sites, sell it on Amazon, or open an e-commerce store.

If you have expertise in other areas, you can pair the buying and selling of games with your skills. For example, buying damaged furniture or guitars, repairing them, and selling them in like-new condition can help you turn a tidy profit while incorporating some of your favorite hobbies. Few jobs allow you the opportunity for profit and personal enjoyment.

Teaching

Everything from music to Spanish lessons is now available online, giving entrepreneurs like yourself the chance to earn money as a freelancer. However, you can also earn some cash on your own by developing your own e-learning or video skills channel or website. Depending on your profession, you can craft a video or a series that provides skills, advice, or tips to help people break into a particular industry.

Earning money on YouTube is one of the more difficult ways of earning money in this regard, but education platforms such as Skillshare, Coursera, and Udemy give you a medium to showcase your skills, and what you can offer to others.

By becoming your own boss, you can enjoy the freedom, success, and sense of purpose that has eluded you for your entire working life. While building a business may require more time and effort, honing your skills, or playing to your strengths, the experience and potential for profitability are well worth the journey.

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