Tired of the job and the boss? Do you feel like you have more potential than you get credit for at your 9 to 5? Do you just need to be able to make more money? Starting a simple business as a contractor may be the way to go for you.
Let’s start by figuring out what a contractor is. A contractor is a person or company that undertakes a contract to provide labor to perform a service, or do a job. What that means in simple terms is just about anyone that you hire to perform a service for you or do some work for you that charges you a fee to perform that service or complete that project is a contractor.
That could be a pretty long list. That would make not only the guy that built your house a contractor, but the kid that walks your dog for you during the week as well. Not only the hi rise window cleaner is a contractor, but so is the music teacher that comes to your home for guitar lessons. Some are licensed, and some are qualified by experience.
Now before you quit your job and start out on your own, one thing to consider is whether there is a need for whatever job or service you want to perform as a business. For instance, just because you are a blackbelt in Karate doesn’t mean that there is a strong demand in your area for Karate instructors. There may be too many Karate instructors in your area now and not enough students to go around. There may not be enough demand for what you are good at. The idea is to get a great career and if you are struggling to stay afloat due to being in a field that is saturated already, then you are just making it more difficult on your self right out of the gate.
So, provided you have chosen a field where there is a real need for what you do, let’s talk about all the great reasons to be independent and contract our services out to others.
1. Being a self-employed contractor gives you ultimate control over your financial future. One of the benefits of starting your own business is that the sky is the limit when it comes to your earnings potential. Want to make more money? If you’re in a proven industry like house painting, simply increase your ad spending, hire on more employees, and watch your revenue grow. With a larger business comes more headaches, but at least you’ll be seeing the kinds of income jumps that make it worthwhile. Contrast this with a typical job working for someone else where there is a ceiling to how much you can earn, no matter how many headaches you have to deal with on a daily basis.
3. Contractors get to be physically active. This one might sound hokey, but think about how weak your body gets sitting behind a desk for 40 hours every week. One of the main reasons behind the epidemic of obesity in this country is that most of us live sedentary lifestyles, and office work only contributes to the problem. On the other hand, if you’re out there installing kitchen cabinets or hanging drywall or setting tile you can bet that the calories are burning off at a pretty good clip. Contracting work can help you lose weight and build muscle, both of which can help you lead a healthier and longer life.
4. Contractors have the opportunity to build something that is tangible and lasting. I think one of the big reasons that people get into contracting work is that there is a great sense of accomplishment when a project is complete. You can stand back, look at a kitchen that you just remodeled, and feel good knowing that you’ve made the homeowner happy and that they will get years of memories and enjoyment out of it. It’s a physical creation that you can point to and say, “I did that”. Many corporate jobs simply cannot provide this because they quite often involve providing a service that is temporal or ambiguous.
5. Contractors get to make a mess. Alright, this last one is kind of a fun addition to the list, but there’s something in the human DNA that just makes us want to make a mess of things sometimes (especially boys and men). That’s why you might notice that demolition crews seem to take extra enjoyment in their work! Tearing out an old kitchen or bathroom is always one of the coolest stages of a remodel, in my humble opinion. Of course you have to clean up after yourself to prevent an irate homeowner (!), but it’s so worth it.
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Being a contractor gives you a great sense of accomplishment at the end of the day. No matter what it is that you offer the world, when you do a great job, you feel good. Become the best at what you do and the pay will be great too.
In the comments below, please leave your thoughts and comments about this topic and other great reasons to be a contractor.