Being self employed takes a lot of guts. You have to be brave enough to even make the decision to be someone who is their own boss. Then you have to carry that courage with you as you endure successes, failures and all that comes with it. As with everything in life, there are no guarantees things will work out. Someone who chooses to be self employed has to be ok with the possibility of failure or success ahead of time.

I’ve been self employed consistently now for about 4 years. Previous to that, I was self employed for a small stint. That particular business failed so I dusted myself off and went back to working a “normal” job while I brainstormed for my next venture. It wasn’t long before I started a small project on the side while I was working, but that didn’t work out either. Then, I stumbled into real estate and my life was never the same. My point in sharing this is to tell you you have to be willing to take a huge chance and if it doesn’t work out you have to pick yourself up, be ok with what happened, learn from it and move on.

Being self employed is not for everyone. There are many distinct personality traits entrepreneurs possess. I did some research and found the following traits to be the most commonly cited on many different lists:

1. Ambitious
2. Obsessive some say Passionate (my wife can vouch for my obsessiveness)
3. Self Disciplined (need to be able to motivate yourself)
4. Self Aware (knowing ones strengths/weaknesses)
5. Perseverance
6. Visionary/Creative
7. Flexible
8. Resourceful
9. Risk Taker
10. Competitive
11. Hard Worker

If you don’t have every single trait on this list don’t be discouraged. It doesn’t mean you’re going to fail. In fact, the list would be longer if I put every single trait that I found on the lists. I personally don’t possess every single one of these traits. Yet, I’m thriving just fine. These traits that are listed are based on many other expert’s opinions and observations of entrepreneurs. Yes, it is true, some people are just born entrepreneurs, but I believe some can be created if you’re flexible and willing to put in the hard work required in being self employed.

I think one of the most important traits on here is #4. You really have to know yourself well and know what you are capable of and not capable of. You need to be willing to ask for help when you have no clue how to do something. I have found that there are things I have learned how to do for myself after someone has helped me or shown me what to do. Then it’s no longer a weakness of mine. There are some things though I gladly leave up to the experts.

If you think you have what it takes to be self employed then gather up as much patience and courage as you can to take the plunge. Come up with a business plan that includes any marketing strategies you have so you’ll have an outline of what you’re doing. Keep in mind you can revise your business plan at any time as needed. I’m a huge fan of putting things down on paper even if it’s a napkin with just a few random thoughts.

One of the few things I actually enjoyed about working a job for someone else is that once I left work for the day, I was done with work for that day. When you work from home especially, it’s difficult to stop working. Self employment is one the most stressful things I’ve endured.For me, the benefits of being my own boss has out weighed the stress. I have no rush hour traffic. I don’t get up early. In fact, I sleep when I want. I have no work clothes to worry about because I can dress how I want. I get to spend a lot of time with my wife and kids. If myself or one of the kids is sick I don’t have to call off work worrying if someone is going to be mad or if I have any paid time left. The list of pros of me being self employed could go on and on. However, it is not for everyone. It can be a scary and crazy ride at times. I hated working for someone else. I wouldn’t want to live my life any other way. Only you know if you have what it takes.