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Making the leap from full-time -> self-employed
07-30-2006, 03:55 PM
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Making the leap from full-time -> self-employed
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Posts: 67
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Hi all,
I need some advice  I currently work for a Large Corporation (defense contractor, airplane maker - just to give some reference). I love my department, I could have better coworkers, I suppose. I'm currenly interning there, with a quasi-solid (The department wants me, but my brain tells me that Something Could Always Go Wrong) offer to work full-time after graduation. Grad's not till May 2009, at best.
OK. Now that that's out of the way: I -love- working for myself! I love getting up when I want to, writing for who I want to, taking on projects that I honestly enjoy and feel good about. I don't like the feast-or-famine cycle, nor do I like having to haggle with those that don't think writers ought to be paid a fair price for their work.
I've been weighing my options:
1) Do I want to finish school? (yes! I love college too, heh)
2) Do I want to return to Large Corporation?
3) Do I want to continue to build my business?
90% of everyone I've talked to so far has said:
1) DON'T GO FREELANCE CORPS ARE BETTER
2) Freelance will drain you of your creativity as you struggle to keep your head above water.
3) Freelancing won't make enough to care for a family
4) Corporations are the only way to go to really get use out of your degree
5) What about your student loans?
6) You're so smart -- why throw away the opportunity to work at a Fortune 500?
7) You're no better than anyone else - you gotta pay your dues, and working for a corporation is just that. Quit whining.
I'm just starting to dread going to work for someone. I just think that those 40 hours could be used another, more creative way? Am I just wishing hopefully, or living in a fantasy world?
If y'all have any advice, let me know 
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07-30-2006, 04:00 PM
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Posts: 7
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I think you should finish your education and carry on with your job if you get offered the placement. Whilst doing this you should be building up your little business. By doing this you have a constant salary from your job and you'are getting extra money from your online work.
Once you have developed your business and you are earning more than your full time job I think that's when you should move across to being self employed.
If you're worried about freelancing it would be best for you to develop your own websites.
That's what I would do and that's what I'm planning to do. 
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07-30-2006, 07:36 PM
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Posts: 91
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yea what karl said. If you can finish college easily then DO IT. You will regret it later if you don't. Also, you can always freelance on the side until you get enough money to quit.
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07-30-2006, 10:48 PM
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Posts: 27
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I'm also going to recommend finishing your degree and even working for "the man" for a while. You'll gain experience and you can still work on your other ideas on the side.
The catch is this.... it's very easy to get comfortable with that reliable paycheck and reach the point where you can't live without it (at least in your mind). I'd try to live on 2/3s and sock away the other 1/3. When (and if) you finally decide that working for yourself is what you really want to do, the transition will be easier because the income will be easier to replace, and you'll have savings to draw from if needed.
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07-30-2006, 11:07 PM
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Posts: 504
Name: Nick Ohrn
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codeism,
I feel your pain here. I'm also currently interning for a large Fortune 100 company (think consumer products, appliances, lightbulbs, finance, etc.) They love me in my department. My assignment manager thinks I'm the greatest thing since sliced bread, and my site leader is always giving me extra assignments to do because he knows I can. If I wanted to, I know I could work there after graduation (May 2008).
However, I have so far abhorred the experience. I hate the corporate lifestyle. I hate the everything I do is touched by 8-12 people before it goes anywhere. I hate answering to people in pointless meetings about projects that I can easily handle myself.
I'm quite self-motivated, like you seem to be, and I know I can go it alone doing something I love. I've gotten a lot of the same responses you have from the few people that I've told, so I've resolved to do something about it to make sure I'm successful. Here's my plan:
1) Finish my college degree. People with college degrees generally make $1 million + more than those without over the course of their life.
2) Pursue side ventures during college. You have a lot of freedom. Instead of spending money on parties and other social activities, sock it away towards your freelancing business. Take the time to improve your skills and start making money.
3) Depending on level of success, start freelancing right out of college or take a job as a consultant in your field. Display depth or breadth of knowledge, and a consulting firm will take you on. They get paid well and avoid most of the corporate trappings.
That's what I plan on doing. You have 3 years left of school. Think about all the time that gives you to keep freelancing, building contacts, and building your skills. In three years, you can accomplish so much!
Whatever you do, don't drop out. Especially if you're on scholarships (don't know if you are or not, but you might be.)
Good luck with your decision!
-Nick
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07-30-2006, 11:10 PM
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Posts: 39
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You might as well finish your education, you're going to have to pay all those student loans anyway, might as well defer them a bit longer. From a person who has three college degrees and doesn't use any of them, I don't know how much you will use your degree in the real world, but it couldn't hurt, and since you enjoy your time there, you might as well finish school.
If you still have a couple years of school ahead of you, you don't have to decide about the job right now, do you? Two years is plenty of time to figure out whether you can make a living on the web or not. Chances are by the time you graduate, you will have your internet business established, and if it pays more than a day job and you enjoy it more, then go for it. If not, you still have the education to get a decent paying day job position to fall back on.
In internet years, two years is a long time, the whole landscape could change by then.
The big advantage of a day job is the group insurance benefits. It's harder for a self-employed person to find reasonable rates for health care, especially if they have a family. But you can sometimes offset this by joining trade organizations, which may have group plans for their members. And of course, if you are making way more than a day job would pay, you can afford the higher premiums you're likely to pay.
Working on the internet tends to have less chances for social interaction than a day job, if you are a social creature, you might miss the daily contact with people. If you're on the shy side in real life like I am, and couldn't care less, it's perfect.
On the internet, you can use your writing skills for a lot of things besides selling your articles outright.
If you get it right on the internet, your income should far exceed a starting salary at an entry level position at even a good company...
What I did was I worked on the internet and treated it as a part time job with regular set hours until I started forgetting to pick up my checks on payday at my day job because I didn't immediately need the money, then I quit and went full time on the Internet. For me that took about two years to reach that point, but I think I could have done it much faster if I had had someone to mentor me who already knew the ropes.
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07-31-2006, 09:32 AM
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Posts: 67
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Quote:
Originally Posted by nickohrn
codeism,
1) Finish my college degree. People with college degrees generally make $1 million + more than those without over the course of their life.
2) Pursue side ventures during college. You have a lot of freedom. Instead of spending money on parties and other social activities, sock it away towards your freelancing business. Take the time to improve your skills and start making money.
3) Depending on level of success, start freelancing right out of college or take a job as a consultant in your field. Display depth or breadth of knowledge, and a consulting firm will take you on. They get paid well and avoid most of the corporate trappings.
Good luck with your decision!
-Nick
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This really resonates with me - I've been hanging on to #1 like nobody's business, but I'm also following up on #2 - I find that drinking until my eyes no longer focus on what's really there to bore me to tears -- writing and building upon niches makes me happier and it's cheaper than party cups!
I do need to give them an answer as to whether or not I want to work next summer by November - I have a strong feeling that I will:
1) Finish school - the networking and prime college targets...I mean...students makes it worthwhile
2) Segue into either Large Corporation and handle security for them (which I can use in my favor of become a SME) , and take advantage of a 100% paid-up-front tuition coverage from Large Corp. That'll pay nicely for a Master's, which I can also gain from (I want to get an advanced degree for the specialization factor - if no one ever gives me extra money for it, I still wouldn't consider it a waste)
3) Do what I can now, and save up at least a year's salary before I actually "make the leap"
Financial stability, in my mind, is honestly the key to a successful transition. And all of you are collectively right -- I still have a *lot* of time. What can I say, I'm a nervous overplanner.
Thanks to everyone for commenting.
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07-31-2006, 10:03 AM
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Posts: 1
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start part time. try a few things. see what works. slowly transition yourself into being self-employed. and make sure you make money REGARDLESS if you work or not.
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07-31-2006, 12:42 PM
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Posts: 1
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Lots of good advice here. Honestly, it's how comfortable you feel working by yourself. I'd say finish college DEFINITELY. Get a degree because that can always be a backup plan in case something goes wrong. Develop your business and always have a plan B and plan C and plan D. What happens if Internet stops working, or the industry is completely satruated? What I'm saying is, just have a backup plan. Then you can work on your business from there 
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07-31-2006, 12:49 PM
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Posts: 67
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Quote:
Originally Posted by Matthew
Lots of good advice here. Honestly, it's how comfortable you feel working by yourself. I'd say finish college DEFINITELY. Get a degree because that can always be a backup plan in case something goes wrong. Develop your business and always have a plan B and plan C and plan D. What happens if Internet stops working, or the industry is completely satruated? What I'm saying is, just have a backup plan. Then you can work on your business from there 
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If the Internet dies, at least the MFAs will die too :P (only kidding!)
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