Guide to Self-Employment
From time:
“So you lost your job. Now what? As an employee, you had a daily routine, health insurance coverage, and a regular paycheck. You liked the security—while it lasted. And if you sometimes daydreamed about the freedom of working for yourself, leaving a full-time job never seemed worth the risk.
But now, laid off into a recession and the worst job market in decades—2.6 million Americans lost jobs in 2008, with 524,000 eliminated in December alone—you may be thinking self-employment sounds like the best path out of unemployment. Rather than try to land one of the few open jobs out there, maybe you could work as a freelancer or consultant, at least until the job market recovers. You’re in good company: There were nearly 9 million self-employed workers in December, according to the Bureau of Labor Statistics. But if you’re among the thousands of unemployed now trying to go it alone, where do you start?
First, step back. Decide what your goals are and how freelancing will help you achieve them, says Pamela Slim, author of the Escape From Cubicle Nation blog and a forthcoming book of the same name. “It’s obviously very easy at the point of being laid off to really come from a position of fear and desperation,” she says. Thinking about long-term goals from the start will keep you grounded and help you determine how to proceed. Once you’re clear on your goals, Slim says, you should ask: “What are the specific skills, knowledge, money, resources, information, and contacts [you] need to bring that picture to life?”
Health Care
There are plenty of nuts-and-bolts concerns that can overwhelm first-time freelancers, especially those who suddenly lost steady jobs. Chief among them is health care. The health insurance system does not accommodate… “ continue reading
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