CHANCES ARE GOOD that at some time in your career, you will work for yourself. Many people dream of owning their own business. Many others are terrified at the prospect. Not all parents suggest that their children develop skills and learn to market them, as Handy does. Many still believe that security comes from a good career at a big company with great benefits. I remember when people thought that IBM was untouchable, would always be on top, and would never reduce benefits. That was before the rounds of layoffs beginning in the 1990s, the elimination of the defined benefit plan, and the streamlining of benefits.
Now many employees view companies like IBM—and those that laid off hundreds of workers after the 2008 market crash—as villains. In most cases, that's simply not true. In a global economy, and especially a struggling global economy, corporations simply cannot take care of employees for life. Rather than viewing this as a betrayal, we'd be better off accepting it as reality and putting our energy into moving ahead. Playing the victim only makes it harder to take charge and find your own solution.
Depending indefinitely on a paycheck from a corporation is a foolhardy approach to the future. Wherever you are in your work life, you need an escape plan. You need a skill for which someone will pay you. The best way to discover one is to think about how you might set up an independent business. There is almost no job that can't be done on a contract basis. All kinds of people thrive as entrepreneurs. You need a passion for what you do, discipline, and hard work.
Many talented, entrepreneurial people move in and out of corporations. They develop their skills working for one or more employers and then set up their own shop—as designers, writers, carpenters, electricians, software developers, or accountants—and begin to acquire clients. Sometimes they discover that one client is consuming more and more time and providing more challenging work. They might join that company as an employee.
But these employees don't resemble those of the 1960s. Modern workers have a portable skill set. They never become lulled into thinking the corporation will take care of them when they get sick, when they get old, when the company is acquired, or when new management takes over. Nor do they become rigid with fear when these things happen. Successful workers in the twenty-first century will focus on their own skills and on how to develop them rather than on corporate politics and how to stay on the right side of the boss. You should always be on the lookout for ways to develop your own skills. Look for opportunities to take on new projects, to speak, to make presentations, or to appear on radio or television. Don't back away from difficult assignments. They will help you grow.
Here are some other things to consider:
Risk. Don't brush off the possibility of self-employment just because it scares you to death. Every successful entrepreneur feels exactly the same way. One of the biggest risks people take is putting all their eggs in one basket by relying on the same employer for salary, benefits, pension, and then investing in the company stock.
Marketing. Many people with terrific skills simply don't know how to let people know that they're available. This task is much simpler than it used to be. In the small town where I live, most people prefer to rely on independent computer consultants, plumbers, roofers, florists, acupuncturists, and nearly every other service they need. In every case, if you are good at what you do and start doing it, the word will get out.
Fees. You must be able to figure out how much to charge and stick to your guns. Remember that you will be paying your own benefits. If you use an hourly fee, you should take into account the years you spent building expertise in your field when you set the fee.
Professional growth. You still need mentors. But they will not be the obvious ones from your workplace. Constantly weigh the relative merits of pumping out more work or, say, attending seminars to learn more about your specialty. Create a balance, too, between projects that pay well but offer little challenge and those that pay less but offer growth opportunity.