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Best Ideas for Self Employment

There are two types of people in the world -- workers and entrepreneurs. Both groups play an important role in shaping today's economy. Without dedicated workers, businesses cannot function in an efficient manner. Without great entrepreneurs, innovation and economic growth will be severely stifled. Many entrepreneurs start out as independent contractors or self-employed individuals and in time, grow into business owners.

The invention of the Internet is a true blessing for business-minded people. Not only the World Wide Web expands potential customer base, it also makes self-employment a less painful experience. One can now offer professional services through classified sites like Craigslist, sell products online and open revenue-making websites with manageable startup costs. It is a fact that many leading websites and web services like Facebook, Youtube, and Yahoo were not started by a bunch of capitalists, but rather by ordinary people with big ideas. However, it is important that you complement your terrific ideas with certain expertise or background.

As the job market is expected to remain stagnated for several more years, self-employment is increasingly becoming a practical option for recent college graduates. A college degree really opens up many self-employment opportunities for its holder. For example, a person with a degree in a highly academic field such as English, mathematics, foreign languages and the sciences can earn as much as $30 an hour working as a private tutor. In most cases, a bachelor degree is the only prerequisite for this lucrative career. If she achieved high scores on her college entrance tests, her earning potential is even better,

A self-employment career as a private tutor offers a flexible work schedule and requires very little monetary investment; one can even maintain a full-time job while at it. Moreover, private or contract tutors are always in high demand. No matter what the current economic condition is, many parents are still willing to spend big bucks on their children's education.

A career as a contract bookkeeper is another good self-employment opportunity. Demand for this type of service is generally very high. According to the U.S. Small Business Administration, small businesses make up of about 99.7% of all employers in the US. In today's highly competitive environment, many small business owners are aggressively looking for ways to cut costs. A majority of them see contract bookkeepers as a much cheaper alternative to accounting firms or a full-time bookkeeper. Additionally, one does not need an accounting degree to engage in this self-employment career. The minimum requirement (in the small business perspective) is usually completion of a few accounting courses or some hands-on experience.

In close, any self-employed career demands a lot of effort and personal investment (at least in the initial phase.) The old adage, "Patience is a virtue," definitely holds true here.

Source: 
1) FAQs - Frequently Asked Questions. U.S. Small Business Administration

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