Hey,
Happy Monday! I had a chill weekend, literally. The temperature dropped a little but and I’m loving the cooler weather in Houston.
I started Friday with a $1,200 offer for a digital asset I’m selling and then welcomed leads and sales over the weekend including a $200 payment from Doordash!
This sounds all fine and well but, nobody talks about the real surprises of going full-time self-employed… so here’s what I wish I knew before I quit my job.
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What you should know about self-employment
Unpredictable income
You are your OWN HR (human resources department)
Burnout is real
The health insurance reality
These are the important conversations that need to be had.
Unstable income. Cash flow is up and down and having an emergency fund is ever so important.
There are no employer benefits and as a solopreneur, you are responsible for: healthcare, retirement, and taxes.
No paid sick days. You might have work on the brain the majority of the time, which means you never really “clock out.”
How confusing is private health insurance? I didn’t realize how overwhelming health insurance would be without an employer plan. Different carriers every year. Stressful open enrollment.
That’s why I like options like Solo — it’s built specifically for business owners and makes coverage simpler, in my opinion.
But, I don’t want to forget the perks of solopreneurship:
Dream schedule here I come: I just woke up from a 90-minute nap today at 11am - I make my own schedule
Pay everyday, even weekends: This is nice. I earned an extra $200 at 7pm-ish on Friday which was unexpected and I made money over the weekend too!
Limitless income: No cap on what you can earn
Freedom: Time freedom. Financial freedom can follow.
You’re the boss: This means you’re not being micromanaged by someone else. This can result in less stress and more enjoyment in your work.
If you’re thinking of going full-time, you’re not crazy. There’s good and bad, just prepare in a smart way.
Cheers,
Jenn