10 Ways to Fail at Being Your Own Boss

Whether you call yourself an entrepreneur, freelancer, self-employed or independent contractor, the fact is your dream of being your own boss is shared with a growing number of people. According to a recent survey by Freelancers Unionand Upwork (previously Elance-oDesk), 53 million Americans are self-employment. Another study by Intuit predicts that 40% of the US workforce will be freelancing by 2020.

All of those impressive stats and hopes aside, maintaining (what we’ll call) a “self-employed” career is no leisurely venture. Despite producing work of high quality, many people find themselves coming up short and, unfortunately, having to go back into a conventional job.

Self-employment comes with its fair share of hurdles, but, as with any other endeavor, failing shouldn’t stop you. As Richard Branson puts it, “The best developer of a leader is failure.” Though failures will inevitably happen in the pursuit of working for yourself, you can take steps to prepare yourself, so that you avoid as many of them as possible. Here are 10 reasons why you could fail.

Fear of Failure

Self-employment is the same as starting a new business, with just as many hurdles to clear to keep the doors open. But while some people can use fear of failure as the ultimate motivator, others succumb to the pressure and spend more energy on worrying than on planning for success.

Fear can even kill your career before it starts. So if you find yourself worrying too much, shift your attention to your career’s immediate demands instead of your projected failures. Your odds of success will increase.

Falling to the Competition

The pool of talent is growing, especially if you’re a freelancer, which makes some industries extremely competitive and difficult to get your foot in the door. Many freelancers apply to many, many job openings and never hear back. You might produce the same quality work as some of the top performers out there, but sometimes quality alone won’t be enough. You have to make an effort to stand out. 

There are many options for opening doors, including becoming a better salesperson, having better marketing or providing a unique product. If you are just starting out, you can even reach out to companies you’re familiar with and offering to do an assignment for free to prove your worth. Don’t forget about building your network too, as satisfied clients make great referral sources.

No Business Plan

Surviving a self-employed career requires more than just applying to job postings. It’s about setting a timeline of goals and finding ways to reach them. Just as with any other business, the best way to ensure success is to create a plan for your business. This will allow you to strategize and understand your objectives. If you have a clear vision of where you want to be, you’ll be able to recognize, tackle and move on from any failures that may occur.

Lack of Publicity

Your personal brand is your best marketing tool, and it’s your responsibility to build it up. As you know, there is no sales or marketing department that will promote your work. Though you may want to devote your time exclusively to your specialty, you also need to focus almost as much energy on making yourself known.

A cost-effective way to promote your personal brand is to create a blog or website to showcase your portfolio. Using social media sites like LinkedIn or Facebook can help you promote your product to the world. Remember to take your efforts offline. Attend industry events to build your network, and let your results speak for themselves through word-of-mouth marketing. Also, don’t forget your business cards! 

Procrastination

The world of self-employment is no place for procrastinators. In order to seek and secure work, you must be a self-starter. There’s also no boss to delegate tasks to you. So, if you’re not finding and doing your own work, you’re going to wash out. And although taking a creative break can be good, if you don’t meet the client’s needs, they’ll most likely move on to the next person.

Avoid procrastination by addressing the root of why you’re procrastinating. If it’s fear of failure, remember that you’re already failing by avoiding the work. Instead, be successful by actually starting it. If you’ve landed a job that is bigger than your skillset, take some time to broaden your skillset. That will give you the confidence you need to proceed.

Poor Prioritizing

Getting used to being your own boss can be tricky. You’re on no one else’s schedule except your own, so it’s understandable that you may first gravitate toward activities that are not essential to work. But this gravitation is why many people fail; they don’t prioritize.

The longer you put off your work, the less energy you’ll have when you most need it, and the worse your work quality will be. If you want your work to be sustainable and successful, it’s essential to keep a schedule and put your responsibilities at the top of it.

Not Seeking Family/Household Support

Life for the self-employed need not be lonely, but it can feel very solitary at times. That’s why family or household support is worth seeking. It helps maintain your mental wellbeing, especially in times of crisis. You might not think you need it now, but the romanticism of the lone entrepreneur isn’t worth the possibility of harming your relationships through prolonged absences. If you’ll be working from home, make sure everyone can make the adjustment when it comes to things like personal space and scheduling.

Not Understanding What to Charge

For many, determining your worth is a delicate but brutally consequential aspect of your career. It’s not much different than the stress-inducing conversation that precedes asking your boss for a raise. But we all know that if we don’t set a certain bar for ourselves, no one else will.

So, recognize what goes into accurately pricing yourself. If you’re new to the game, charging a lower rate than the competition can be a great way to build a client base. If you’re a seasoned pro, then charge like one. If you’ve been working with a company for a reasonable amount of time, you can begin to raise your rates. Also consider the size of the company you are doing work for, as well as the budgets of their individual projects.

Being Financially Disorganized

It may be hard to understand at times, but for most self-employed people having the books in order gets harder the more successful you become. Think about it. It’s easy to keep track of income and expenses when you are just starting out with a few clients. But as things begin to pick up, your accounting becomes something you do late at night when all your real work is done.

This can spell disaster when you stop paying attention to the expenses and costs of doing business. When you don’t have a clear picture of your financial health, you won’t know when you’re in trouble. Don’t let your finances get out ofcontrol, even if it means outsourcing the work to an expert.

Failing to Pay Quarterly Taxes

Speaking of expenses, many self-employed people overlook the tax situation that comes along with working for yourself. According to the IRS Self-Employed Individuals Tax Center, “As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly.”

If you ignore the quarterly requirement and owe more than $1,000 in taxes at the end of the year, you may face fines and penalties. Though some people opt to pay the penalties come April 15 to hold on to precious revenue, it’s best to pay your estimated quarterly taxes via Form 1040-ES. As good as it may sound to hang on to the money now, it’s a lot more lucrative to not be forced into spending more than you would have had to later.

Starting and maintaining a self-employed career is like owning a business. Though it can afford you many freedoms, you will also face more demands. You will be your own C-suite employee of every stripe. But if you are prepared for what’s to come—including potential hiccups—then your chances of surviving by practicing your true vocation will drastically increase.

Sean Bradley

10 Truths We Forget Too Easily

It’s surprising how easy it is to lose sight of the important things in life. Busy schedules and weekly routines have a tendency to put the brain on autopilot.

Some of life’s essential truths need repeating. Keep this list handy and give it a read any time you need a boost.

1. Being Busy Does Not Equal Being Productive

Look at everyone around you. They all seem so busy—running from meeting to meeting and firing off emails. Yet how many of them are really producing, really succeeding at a high level?

Success doesn’t come from movement and activity. It comes from focus—from ensuring that your time is used efficiently and productively.

You get the same number of hours in the day as everyone else. Use yours wisely. After all, you’re the product of your output, not your effort. Make certain your efforts are dedicated to tasks that get results.

Related: How Successful People Stay Productive and In Control

2. Great Success Is Often Preceded By Failure

You will never experience true success until you learn to embrace failure. Your mistakes pave the way for you to succeed by revealing when you’re on the wrong path.

The biggest breakthroughs typically come when you’re feeling the most frustrated and the most stuck. It’s this frustration that forces you to think differently, to look outside the box and see the solution that you’ve been missing.

Success takes patience and the ability to maintain a good attitude even while suffering for what you believe in.

3. Fear Is the No. 1 Source of Regret

When it’s all said and done, you will lament the chances you didn’t take far more than you will your failures. Don’t be afraid to take risks.

I often hear people say, “What’s the worst thing that can happen to you? Will it kill you?” Yet, death isn’t the worst thing that can happen to you.

The worst thing that can happen to you is allowing yourself to die inside while you’re still alive.

4. Your Self-Worth Must Come From Within

When your sense of pleasure and satisfaction are derived from comparing yourself to others, you are no longer the master of your own destiny. When you feel good about something that you’ve done, don’t allow anyone’s opinions or accomplishments to take that away from you.

While it’s impossible to turn off your reactions to what others think of you, you don’t have to compare yourself to others, and you can always take people’s opinions with a grain of salt. That way, no matter what other people are thinking or doing, your self-worth comes from within. Regardless of what people think of you at any particular moment, one thing is certain—you’re never as good or bad as they say you are.

5. You're Only as Good as Those You Associate With

You should strive to surround yourself with people who inspire you, people who make you want to be better. And you probably do. But what about the people who drag you down? Why do you allow them to be a part of your life?

Anyone who makes you feel worthless, anxious, or uninspired is wasting your time and, quite possibly, making you more like them. Life is too short to associate with people like this. Cut them loose.

6. Life Is Short

None of us are guaranteed a tomorrow. Yet, when someone dies unexpectedly it causes us to take stock of our own life: what’s really important, how we spend our time, and how we treat other people.

Loss is a raw, visceral reminder of the frailty of life. It shouldn’t be.

Remind yourself every morning when you wake up that each day is a gift and you’re bound to make the most of the blessing you’ve been given. The moment you start acting like life is a blessing is the moment it will start acting like one.

After all, a great day begins with a great mindset.

Related: Why Leaders Lack Emotional Intelligence

7. You Don't Have to Wait for an Apology to Forgive

Life goes a lot smoother once you let go of grudges and forgive even those who never said they were sorry. Grudges let negative events from your past ruin today’s happiness. Hate and anger are emotional parasites that destroy your joy in life.

The negative emotions that come with holding on to a grudge create a stress response in your body, and holding on to stress can have devastating health consequences. Researchers at Emory University have shown that holding on to stress contributes to high blood pressure and heart disease.

When you forgive someone, it doesn’t condone their actions; it simply frees you from being their eternal victim.

8. You're Living the Life You've Created

You are not a victim of circumstance. No one can force you to make decisions and take actions that run contrary to your values and aspirations.

The circumstances you’re living in today are your own—you created them. Likewise, your future is entirely up to you. If you’re feeling stuck, it’s probably because you’re afraid to take the risks necessary to achieve your goals and live your dreams.

When it’s time to take action, remember that it’s always better to be at the bottom of the ladder you want to climb than at the top of one you don’t.

9. Live in the Moment

You can’t reach your full potential until you learn to live your life in the present.

No amount of guilt can change the past, and no amount of anxiety can change the future. It’s impossible to be happy if you’re constantly somewhere else, unable to fully embrace the reality (good or bad) of this very moment.

To help yourself live in the moment, you must do two things:

1. Accept your past. If you don’t make peace with your past, it will never leave you and, in doing so, it will create your future.
2. Accept the uncertainty of the future. Worry has no place in the here and now. As Mark Twain once said, “Worrying is like paying a debt you don’t owe.”

10. Change Is Inevitable -- Embrace It

Only when you embrace change can you find the good in it. You need to have an open mind and open arms if you’re going to recognize, and capitalize on, the opportunities that change creates.

You’re bound to fail when you keep doing the same things you always have in the hope that ignoring change will make it go away.

After all, the definition of insanity is doing the same thing over and over again and expecting a different result.

Life doesn’t stop for anyone. When things are going well, appreciate them and enjoy them, as they are bound to change. If you are always searching for something more, something better, that you think is going to make you happy, you’ll never be present enough to enjoy the great moments before they’re gone.

A version of this article first appeared on TalentSmart.com.

Related: 13 Habits of Exceptionally Likable People

Travis Bradberry

6 Smart Ways to Reduce Startup Stress

To be successful in the startup world requires an unrelenting amount of determination, persistence and trust. More than anything, though, it takes resilience to deal with the stress that seems to perpetually grow and not show any sign of slowing down.

Of the myriad strategies to execute and the relationships to develop as an entrepreneur, the stress associated with everything necessary for success can be unrelenting. Just when you thought you were “good,” 10 more to-dos get thrown onto your list. Here are six smart ways to reduce the startup stress:

1. Get rid of the to-do list.

Checklists have an unwelcoming way of growing and growing and growing. For me, the more unchecked boxes that appear in my little green notebook, the heavier the weight that bears upon my shoulders.

To-do lists create an illusion of productivity and priority. What was at the top of your list today may be thrown to the wayside tomorrow. Instead, try this: write an “I did” list that keeps track of your productivity. This way, you’re motivated to add to the list as opposed to feeling disheartened if you don’t.

2. Release your inner writer.

A 2005 study on the emotional and physical health benefits of writingincluded two groups of people. The first group was tasked with writing about stressful life events while their counterpart was instructed to write about more neutral topics. The results: writing three to five times for 15 to 20 minutes over a four-month time frame positively impacted their overall health.

3. Forget the goals. Focus on process.

I know. Hearing the word “process” makes those unshaven hairs on the back of your neck stick up because the last thing anybody needs is more rules. However, the reality is that the learning lessons and “fruit” of learning occur along the journey of attaining a goal, not in achieving it.

If you’ve ever played on a team then you know that consistency is what yields a win -- the daily grind of showing up and applying what you learned. It’s not so much the “plays” you learn but the habit of learning that becomes the winning process.

4. Fail fast.

While learning from successes can certainly reinforce what’s “right,” it doesn’t “fill the void” of what can be improved. An oversight, a slippage in judgment, a minimal effort or an unsuccessful attempt are the best takeaways from failure because they build your knowledge base.

Success or failure is only determined by where you stop. The faster you iterate through the cycle of create, innovate, reiterate (i.e. learn), the sooner you can apply those lessons towards the next great idea. One caveat: be sure not to disregard being deliberate or thorough for being hasty.

5. Burn it off.

It has been said before and I’ll say it again: exercise is one of the best stress reliefs out there. Rigorous activity for just 20 minutes, three times a week has been shown to reverse the symptoms of depression caused by stress. Remember, it’s not the goal that’s important but rather the process, or routine, to follow that’s the moneymaker.

6. Exercise your entrepreneurial chivalry.

Attitude is contagious. Random acts of kindness help brighten anybody’s day. The person on the receiving end will be pleasantly surprised that you went out of your way and in return, you'll feel positive from helping another.

On the one hand, stress is no fun as it eats away at your purpose. On the other hand, though, it serves as a fuel towards that same ambition. Manage your stress and you manage your entrepreneurial impact.

 Jeff Boss

10 Painfully Obvious Truths Everyone Forgets Too Soon

You know how you can hear something a hundred times in a hundred different ways before it finally gets through to you?  The ten truths listed below fall firmly into that category – life lessons that many of us likely learned years ago, and have been reminded of ever since, but for whatever reason, haven’t fully grasped.
This, my friends, is my attempt at helping all of us, myself included, “get it” and “remember it” once and for all…

1.  The average human life is relatively short.

We know deep down that life is short, and that death will happen to all of us eventually, and yet we are infinitely surprised when it happens to someone we know.  It’s like walking up a flight of stairs with a distracted mind, and misjudging the final step.  You expected there to be one more stair than there is, and so you find yourself off balance for a moment, before your mind shifts back to the present moment and how the world really is.
LIVE your life TODAY!  Don’t ignore death, but don’t be afraid of it either.  Be afraid of a life you never lived because you were too afraid to take action.  Death is not the greatest loss in life.  The greatest loss is what dies inside you while you’re still alive.  Be bold.  Be courageous.  Be scared to death, and then take the next step anyway.

2.  You will only ever live the life you create for yourself.

Your life is yours alone.  Others can try to persuade you, but they can’t decide for you.  They can walk with you, but not in your shoes.  So make sure the path you decide to walk aligns with your own intuition and desires, and don’t be scared to switch paths or pave a new one when it makes sense.
Remember, it’s always better to be at the bottom of the ladder you want to climb than the top of the one you don’t.  Be productive and patient.  And realize that patience is not about waiting, but the ability to keep a good attitude while working hard for what you believe in.  This is your life, and it is made up entirely of your choices.  May your actions speak louder than your words.  May your life preach louder than your lips.  May your success be your noise in the end.
And if life only teaches you one thing, let it be that taking a passionate leap is always worth it.  Even if you have no idea where you’re going to land, be brave enough to step up to the edge of the unknown, and listen to your heart.  (Angel and I discuss this in more detail in the “Passion and Growth” chapter of 1,000 Little Things Happy, Successful People Do Differently.)

3.  Being busy does NOT mean being productive.

Busyness isn’t a virtue, nor is it something to respect.  Though we all have seasons of crazy schedules, very few of us have a legitimate need to be busy ALL the time.  We simply don’t know how to live within our means, prioritize properly, and say no when we should.
Being busy rarely equates to productivity these days.  Just take a quick look around.  Busy people outnumber productive people by a wide margin.  Busy people are rushing all over the place, and running late half of the time.  They’re heading to work, conferences, meetings, social engagements, etc.  They barely have enough free time for family get-togethers and they rarely get enough sleep.  Yet, emails are shooting out of their smart phones like machine gun bullets, and their day planners are jammed to the brim with obligations.  Their busy schedule gives them an elevated sense of importance.  But it’s all an illusion.  They’re like hamsters running on a wheel.
Though being busy can make us feel more alive than anything else for a moment, the sensation is not sustainable long term.  We will inevitably, whether tomorrow or on our deathbed, come to wish that we spent less time in the buzz of busyness and more time actually living a purposeful life.

4.  Some kind of failure always occurs before success.

Most mistakes are unavoidable.  Learn to forgive yourself.  It’s not a problem to make them.  It’s only a problem if you never learn from them.
If you’re too afraid of failure, you can’t possibly do what needs to be done to be successful.  The solution to this problem is making friends with failure.  You want to know the difference between a master and a beginner?  The master has failed more times than the beginner has even tried.  Behind every great piece of art is a thousand failed attempts to make it, but these attempts are simply never shown to us.
Bottom line:  Just because it’s not happening now, doesn’t mean it never will.  Sometimes things have to go very wrong before they can be right.  (Read The Success Principles.)

5.  Thinking and doing are two very different things.

Success never comes to look for you while you wait around thinking about it.
You are what you do, not what you say you’ll do.  Knowledge is basically useless without action.  Good things don’t come to those who wait; they come to those who work on meaningful goals.  Ask yourself what’s really important and then have the courage to build your life around your answer.
And remember, if you wait until you feel 100% ready to begin, you’ll likely be waiting the rest of your life.

6.  You don’t have to wait for an apology to forgive.

Life gets much easier when you learn to accept all the apologies you never got.  The key is to be thankful for every experience – positive or negative.  It’s taking a step back and saying, “Thank you for the lesson.”  It’s realizing that grudges from the past are a perfect waste of today’s happiness, and that holding one is like letting unwanted company live rent free in your head.
Forgiveness is a promise – one you want to keep.  When you forgive someone you are making a promise not to hold the unchangeable past against your present self.  It has nothing to do with freeing a criminal of his or her crime, and everything to do with freeing yourself of the burden of being an eternal victim.

7.  Some people are simply the wrong match for you.

You will only ever be as great as the people you surround yourself with, so be brave enough to let go of those who keep bringing you down.  You shouldn’t force connections with people who constantly make you feel less than amazing.
If someone makes you feel uncomfortable and insecure every time you’re with them, for whatever reason, they’re probably not close friend material.  If they make you feel like you can’t be yourself, or if they make you “less than” in any way, don’t pursue a connection with them.  If you feel emotionally drained after hanging out with them or get a small hit of anxiety when you are reminded of them, listen to your intuition.  There are so many “right people” for you, who energize you and inspire you to be your best self.  It makes no sense to force it with people who are the wrong match for you.

8.  It’s not other people’s job to love you; it’s yours.

It’s important to be nice to others, but it’s even more important to be nice to yourself.  You really have to love yourself to get anything done in this world.  So make sure you don’t start seeing yourself through the eyes of those who don’t value you.  Know your worth, even if they don’t.
Today, let someone love you just the way you are – as flawed as you might be, as unattractive as you sometimes feel, and as incomplete as you think you are.  Yes, let someone love you despite all of this, and let that someone be YOU.  (Read Love Yourself Like Your Life Depends On It.)

9.  What you own is not who YOU are.

Stuff really is just stuff, and it has absolutely no bearing on who you are as a person.  Most of us can make do with much less than we think we need.  That’s a valuable reminder, especially in a hugely consumer-driven culture that focuses more on material things than meaningful connections and experiences.
You have to create your own culture.  Don’t watch TV, don’t read every fashion magazine, and don’t consume too much of the evening news.  Find the strength to fill your time with meaningful experiences.  The space and time you are occupying at this very moment is LIFE, and if you’re worrying about Kim Kardashian or Lebron James or some other famous face, then you are disempowered.  You’re giving your life away to marketing and media trickery, which is created by big companies to ultimately motivate you to want to dress a certain way, look a certain way, and be a certain way.  This is tragic, this kind of thinking.  It’s all just Hollywood brainwashing.  What is real is YOU and your friends and your family, your loves, your highs, your hopes, your plans, your fears, etc.
Too often we’re told that we’re not important, we’re just peripheral to what is.  “Get a degree, get a job, get a car, get a house, and keep on getting.”  And it’s sad, because someday you’ll wake up and realize you’ve been tricked.  And all you’ll want then is to reclaim your mind by getting it out of the hands of the brainwashers who want to turn you into a drone that buys everything that isn’t needed to impress everyone that isn’t important.

10.  Everything changes, every second.

Embrace change and realize it happens for a reason.  It won’t always be obvious at first, but in the end it will be worth it.
What you have today may become what you had by tomorrow.  You never know.  Things change, often spontaneously.  People and circumstances come and go.  Life doesn’t stop for anybody.  It moves rapidly and rushes from calm to chaos in a matter of seconds, and happens like this to people every day.  It’s likely happening to someone nearby right now.
Sometimes the shortest split second in time changes the direction of our lives.  A seemingly innocuous decision rattles our whole world like a meteorite striking Earth.  Entire lives have been swiveled and flipped upside down, for better or worse, on the strength of an unpredictable event.  And these events are always happening.
However good or bad a situation is now, it will change.  That’s the one thing you can count on.  So when life is good, enjoy it.  Don’t go looking for something better every second.  Happiness never comes to those who don’t appreciate what they have while they have it.


Great article written by: Marc Chernoff