Is your character suitable for self-employment?

Original author: Thomas Thomas Hamorro-Remuzic
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Want to tell the boss the magical words “I'm quitting”? Make sure that self-employment is suitable for you by examining the list of qualities necessary for self-employment.

Many people all over the world work for themselves, even in places favorable in terms of employment.

Self-employment rises every decade. Some predict: by 2020, more than 40% of America's workforce (which is more than 60 million people) will work for itself. Due to the fact that self-employment, in many ways similar to entrepreneurship, fills the gap between supply and demand in the labor market, its growth leads to a continuous increase in economic well-being.

But what is better to be guided by, choosing between traditional full-time employment and life in the "self-boss" mode? To get an accurate answer to this question, a lot of psychological research has been done.

Scientists tried to find a genetic predisposition to individual work. They evaluated whether self-employed individuals are different from those who prefer the traditional form of labor (meaning biologically). As a result, several striking differences were found between these groups.

It turned out that the difference is more noticeable on a psychological rather than biological level. Numerous data show: success rate and satisfaction with self-employment largely depends on personality traits: character and behavioral preferences determine how effective and happy you will be after the transition to independent work.

And again, gender inequality?

The October 2013 study showed that the following character traits are usually encouraged to work for themselves:
  1. openness to experience - a character trait associated with creativity , a sense of beauty and liberal political views;
  2. risk appetite and extroversion - a focus on concentration on the external, rather than the internal world.

Meanwhile, goodwill and a tendency to avoid risk force people to abandon individual work and even interrupt such activities. These profound differences in character can also explain why women have lower levels of self-employment than men, even despite the economic component.

In all cultures, women are usually less open and impulsive, but more complaisant than men. The role of risk is especially interesting, since it is the increase in its level that pushes people to self-employment, as well as to doing business. September 2014 study shows: an average rather than a high level of risk is more strongly associated with the success of self-employed people. Simply put, you must be an adventurer in order to work for yourself, but you can achieve success without falling into extreme self-confidence.

Entrepreneurial spirit

Self-employment is the best alternative for people with an entrepreneurial spirit who are considered more creative, flexible, productive, and far-sighted. The main reason for this is that such traits help maintain motivation and interest even in the absence of a clear work structure and routine. People with this character are bored in traditional work, and they usually refuse to obey the established order and regime.

Although the likelihood of serious success for entrepreneurs is very small, many successful businessmen - including Bill Gates, Steve Jobs and Jeff Bezos - were somewhat incapable of working for self-employed people in the traditional sense. They did not want to adapt to someone else's business or follow something other than their own opinions. If you have any problems with the management - personal or addressless - self-employment will help you.

No wonder education is also important. Many studies show that professional short-term entrepreneurship courses contribute to the success of self-employed people. A growing number of publicly available online courses and training materials are destroying the educational industry. But at the same time, this can be regarded as an attempt to satisfy the needs of millions of people who are going to move to self-employment or investing in a portfolio for their own career.

The character decides everything

Although many choose individual activities to make their work more enjoyable, freelancers usually experience less job satisfaction than full-time employees. In fact, people who change their office to self-employment usually work more and earn less than they did before they left office.

It's funny, but individual labor activity, due to its low sensitivity to economic market fluctuations, is more stable than traditional employment. In addition, self-employed people do not have to look for a common language with tough or incompetent bosses.

Character also determines how long a person will work independently. In a study lasting 50 years, inquisitive, resilient people with a higher level of emotional intelligence (EQ) remained self-employed longer. It is noteworthy that the levels of EQ and stamina are also a guarantee of career stability for employees employed. Therefore, the desire of people to leave their position will increase along with the growth of their curiosity.
You should consider quitting and self-employment if:

  1. You can put up with instability.
  2. You like the lack of routine.
  3. It’s hard for you to follow the rules.
  4. You know how to motivate yourself.
  5. You are emotionally stable and hardy.

PS We recommend another article on the topic - 10 fun exercises that will help you become a more successful entrepreneur .

The author of the translation is Vyacheslav Davidenko, founder of MBA Consult .

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