Bust your ass! Hard work pays off.

Get the Mileage IQ app for your phone to track your business miles you drive.

I've been self employed for 30 years. I don't make much money but the stress is so much less that working for other people & dealing with co-workers. What I lack is organization & assertiveness, or I would probably make more money. Good luck--I think you will like it!

I have been self-employed for most of my life I would suggest opening a business in the services industry because those have a tendency to be the most stable I myself do Landscape Maintenance and I make an incredible living I make two to three times the amount of people who are employees to someone else I set my own schedules I do what I want when I want and how I want but with that said you're going to have to be very motivated you're going to have to be very good with your social people skills and you're going to have to be reliable no one else is going to be telling you you need to get up and go to work it's all going to be on you you're also going to have to look in to getting medical insurance because unlike working for someone else it is not supplied

I'm an online retailer and have been since 1999 in an industry that I knew nothing about. This industry requires people to understand how to use a ruler - I had no clue. I didn't know how to design a website and I knew nothing about online marketing. Fast forward 18-years and my efforts continue to pay off. I saw an industry that had potential and I went with it - I learned how to use a ruler, I learned how to design a website, I learned how to make it mobile friendly and I learned how to obtain solid organic search results without having to spend a dime. Type into Google "What are solar shades?" without the quotation marks and the first site you see is mine. Just have a passion for success - you may find a business that you see potential in and not know a darn thing about it. That's OK - just be willing to put in the time to learn it inside and out. If you're willing to do that - you'll make it.

Don't even attempt your own business unless you're certain that you have enough motivation and self discipline to stay at it through good times and bad. If you do :

Whatever area you're planning your business to be in, research it as much as possible.
Know whether you can afford the start-up costs, and if you'll have enough to live on until things get off the ground.
Find if you will have competition, and where they are.
If there is a similar business to the one you're thinking of starting, perhaps go meet them and observe, and learn whatever you can. Be an information sponge !
There are tons of good information available online - way more than anyone can possibly tell you here. Take advantage of it !

Having your own business can be a whole lot of work, and also be deliciously satisfying. Good luck !

Your Credit is your GOD. Worship it.
Price for profit.

One does not normally decide to become self employed unless there is a skill, profession, or special knowledge one can market as a service. "Self employed" is not a profession. I believe the biggest cause for failure for aspiring entrepreneurs is entering a business without any or enough knowledge or understanding of how that business normally works. Working with customers and vendors can be very different from one business to another. If there is a business you think you would like to be involved in it is extremely important to spend minimally a year working in that business experiencing all aspects of the business.

Make sure you have enough in the bank to pay the bills when things get slow. Keep detailed records of all transactions. Keep your personal and business finances separate. Your reputation is your business, don't let anyone or anything, including yourself, stain it in any way. Do not underprice your products or services. And take care of yourself, you are looking at long hours.

Behave yourself at the Company Christmas party.

Hi! After I officially retired I thought a lot about my retirement job. It was fairly easy for me to decide on pet care because I've had animals all my life and love them a great deal and they seem to like and understand me. I joined an on-line service that matched providers and customers. It wasn't very expensive and saved me messing with stuff like advertising, etc. I had a ball and really enjoyed my clients and customers. I say find your niche and go for it!!

Yeah, a lot. First - your career has to be your passion. Make sure you "size up the marketplace" you will be catering to. You might love what you do, but if the market is already maximized, you will struggle to succeed. You MUST have something of great value to add to the marketplace to succeed. Over 90 % of all businesses fail in the first 2 years.
Secondly - have a business plan. If you're not sure what this is, go to your public library (or Google it.) Make your Plan - and follow it!
You have to be willing to sacrifice to build it. Secondly, all costs are on you. That means you will pay double Social Security. There are no benefits, no insurance, nothing - unless you find a way to fund it with your business.
Always keep your eyes open on ways to improve your business, even morph it. Be aware of what's going on in your industry at all times; stay ahead of it, in fact. They say if you see a Passenger train leaving the port - you're already too late.
Finally: be disciplined. Manage your finances, treat your people fairly. You must have a hand in all facets of the business. Generally an entrepreneur is good at looking at future prospects. But an entrepreneur is usually lousy at managing the business. Acknowledge your shortcomings and hire the required help. Or be willing to pay for professional advice.

Finally again: Read the book: "Who Moved the cheese?".
Good luck!

I am self employed. I set my own hours, I decide if I work or not. I'm contracted with a single company, but I'm free to work for others if and when it suits me. I do all my own record keeping and taxes. Questions? Hit me up.

You will work longer hours, for less pay (if any), and on average it takes 2 years for a new business to start making a profit. Without any idea what business you are going into, hard to give any insights.

Thank you to everyone who shared such great advice! (And the goofballs with the not-so-helpful wisecracks) Keep 'em coming!

Slow and easy wins the Race. Baby steps always and when you think that they knocked you down 5 times get up for the 6th. You will never fail unless you quit. Salesmanship begins when the 'Customers says 'No' and when your going through Hell keep Peddeling. The light at the end of the tunnel is not a train coming in the other direction.

What kind of business??

As a tax preparation worker, my best advice is to keep scrupulous records of all expenses and income. If it's just you, that should be sufficient. If you have employees and have to pay them, it would be worth the time and expense to consult a professional on the records you must keep, taxes you must pay, and insurance you must maintain. These are just a few of the complexities of being self employed but they will save you a lot of trouble if you see to them from the outset.

Do not sell contraband. Be prepared to have no life but the business. Pay your taxes. Go out of business.

I've been self employed since 1998. What do you want to know?

I never could figure that one out, and I did try to figure it out. What I noticed was that all of the theories as to how that works really don't work as promised, and only sell the ideas and sometimes the services of those who claim to know. Huge industry in that. Most of them self employed and making a killing.

And no "paid vacation"

You have no pension
No job security
Insurance is all up to you
File your own taxes or hire an accountant

I hope you have the money to support doing that...

Most of these are great tips. Instead of re-iterating what they said, I’ll just go ahead and say, make sure you pay ALL taxes. You’re going to ahave to be more but don’t get dissuaded by that. And make sure you always have some sort of revenue.