Paths of Self-Employment in 2023
If you’re looking to become self-employed, there are many different paths to pursue. And within those paths, there are many different careers to look into. But before you get to looking into careers, it’s important to know some of the paths that are out there as well as a little bit about what they entail.
What Are The Different Paths of Self-Employment?
In this article, you’ll learn about a few of the paths you can take to become self-employed. This is by no means an extensive list, but rather one full of paths that I have a bit of experience with or have enough knowledge to talk about.
- Content Creation
- Service
- Education
- Freelancing
- Product/Ecommerce
- Real Estate
Now, we’ll get into some of the different paths. These vary widely, everything from writing and video creation, to things like doing home repairs. The path you choose largely depends on what your skillset is and what your ideal life looks like. Would you like to help people more directly for a living? Or would you like to have a more passive form of income that allows you the freedom to do the things you love?
Content Creation
The content creation path of self-employment includes creating your own content in whatever medium is best for you. For example, you can write blogs, create videos, write a newsletter, or even create an online course.
Depending on which medium you choose, there are a variety of ways to monetize this path. In blogging and video creation, you can monetize through ads, affiliate marketing, and potentially sales if you choose to go the course creation route.
Service-Based
In this business model, you’ll be offering a service to people. There are multiple ways to do this. Either you do the work yourself, or you hire a team of people to do the work for you and you handle the administrative side of the business. There are really no limits to what you can do in this industry, everything from simple handyman work, to cleaning and even some landscaping.
Education-Based
This model is a bit more limited in its options, but there is still great potential. The three main paths are course creation, coaching, and private tutoring. The course creation route is a bit more passive, but you will still need to do the work of actually creating the course, as well as potentially deal with the customer service side of the business.
Freelancing
Freelancing has the ability to be a wildly successful business model. It entails using one or multiple of your skills and offering your services to businesses who need help with whatever you’re offering. What makes this business model great is that you can set your hours, rates, and work as little or as much as you want.
Product-Based
In this business model, you’ll be selling products for profit. Generally speaking, this includes creating your own product, but there are certainly ways to sell other people’s products such as setting up an ecommerce site using products from sites like Alibaba.
Real Estate
The real estate model of business generally requires you to have some money to invest up front. For that reason, it can be tough to get started, but if you have the money to invest, there are a number of ways to go.
Frequently Asked Questions
How Can I make the most money being self-employed?
The most profitable methods of self-employment include blogging and real estate investment. If done right, blogging can make six figures a year. Real Estate has the potential to be highly profitable, but only if you have the money to invest and you invest it wisely.
What are the advantages of being self-employed?
The advantages of self-employment include the ability to set your own hours, the ability to have creative freedom over whatever it is that you’re doing, and the freedom to do the things you love on a more consistent basis.
What are the disadvantages of self-employment?
The disadvantages of self-employment include a potentially inconsistent income, the loss of employee benefits, and potentially higher taxes
What Is Self-Employment?
Self-Employment is working for yourself or working for a small business that doesn’t require you to be on-site all the time. It is a form of employment that generally allows you to set your own hours and work as you please.
How Can Self-Employment Benefit You?
Self-employment can benefit you in a variety of ways, including potentially increased income, increased time freedom, and the ability to do exactly what you want for a career. This ultimately can allow you to live a better, happier, life.
Wrapping Up
When I first started looking into the world of self-employment, I had no idea where to start. I had heard things about various different paths, but I really didn’t know what they entailed. My hope with this post is to provide you with a little bit of information about the few paths that I have experience with and help you in the decision to become self-employed.