It’s not tough to find the top self-employed jobs. In reality, the internet has made it simple for almost anyone to start a company. Consider being able to choose your own hours, projects, and money. It’s a life that just 70% of Americans can imagine. At least until they decide to join the ranks of the self-employed.
It’s also one that’s rapidly expanding. Between 2000 and 2017, the number of sole proprietors increased by 722 percent. Nearly one-third of all Americans now work for themselves. This translates to nearly 44 million people in the United States alone.
If you’re considering being your own boss, you’re probably wondering what options are available to you. As a result, we’ve put together this fast guide to assist you in determining your next steps.
Let’s take a look at some of the top self-employment opportunities available in 2021.
Also, don’t miss our upcoming webinar on our fresh new “silver lining method” if you want to advance in your self-employed profession.
What Are the Advantages of Working for Yourself?
The most obvious advantage of being self-employed is that you are your own boss. The prospect of having complete control over your job appeals to me. Those that correctly manage their time and work will agree.
However, it isn’t the only advantage of working for yourself. Here are some of the benefits of working for yourself:
- High earning potential (the more you work/sell, the more money you’ll make)
- Save money on petrol (your home can serve as your workplace, or you can go to Starbucks).
- Spend less on clothing and washing (wear what you want, no one can see you anyway)
- Deductions from taxes (reduce your taxes by claiming business expenses)
- SIMPLE IRA and Solo 401(k) are two Big Brother plans for retirement savings.
- You can choose your own hours and days (balance your life however you want)
- This isn’t an exhaustive list. However, it should give you an idea of the financial and time flexibility it provides. Let’s look at the differences between self-employment based on products and self-employment based on services.
The Difference Between Self-Employment as a Service and Self-Employment as a Product
You can now approach self-employment in one of two ways:
You can do this by selling your time. Alternatively, you may sell a product.
If you choose the former, you will be exchanging your time for money. You accomplish this by providing a service to your clients. The following are some examples of service-based self-employment:
- Services provided by professionals (lawyers, marketers and accountants)
- Repairing and remodeling your home (carpenters, roofers, electricians and plumbers)
- Services in the field of creativity (web designers, writers and photographers)
- Massage therapists and hair stylists/barbers provide personal care.
- Health-care services (physical therapists and home health aides)
You still have control over how and when you operate as a service provider. You do not, however, have control over scalability. Your income is capped due to time and capacity constraints. Increasing your compensation and working longer hours are two options. This, however, will quickly exhaust you (and your clients’ cash).
The only way to get around this is to sell something. You’re selling things to your customers in this situation. This can be a physical or electronic product. Following are a few examples:
- Goods for consumers (apparel, accessories, appliances and hygiene products)
- Drinks and food (people and animals)
- Technology is a powerful tool (smartphones, computers and TVs)
- Supplies of raw materials (metals, wood and minerals)
- E-books, e-music, etc. are examples of digital commodities.
The scalability potential of product-based enterprises is one of their most appealing features. You put in the effort once and make money over time. You can conduct a sale or create extra products to increase revenue.
Let’s take a look at five of the greatest occupations for self-employed persons next.
5 of the Best Self-Employed Positions
There are numerous paths to being self-employed. The goal is to locate the ones that have a low barrier to entry and high earning potential. As a result, we’ve compiled a list of the finest occupations for self-employed people.
Let’s get started.
1. Work as a freelancer
There are around 59 million freelancers in the United States. And they made a whopping $1.2 trillion in total. To put it another way, there’s a lot of money to be made in this sector.
There are many different types of freelance services you can provide now. For example, you could:
- Set appointments and manage calendars for businesses and busy workers with a virtual assistant.
- Photographer: Capture weddings, birthday parties, family portraits, and holiday gatherings.
- Video Editor: For YouTubers and business professionals, turn unpolished video footage into polished products.
- Help plan online and offline events for businesses, influencers, and professionals as an event manager.
- Look at what firms require assistance with and see if you can turn it into a freelancing business.
2. Work as a consultant
At some point in their lives, everyone requires advice, direction, and inspiration. It’s so valuable that some individuals are willing to spend a lot of money for it. This is what has made consulting such a lucrative business.
Consulting is a $64.4 billion industry in the United States. But why limit your earning potential by concentrating your efforts in a single country? The global consulting market is about $160 billion. People all over the world are asking for help with issues such as:
- Starting a business and growing it
- Enhancing their health and way of life
- Putting money aside
- Developing marketing/business strategy
- Increasing your credit score and financial stability
- The internet is a fantastic learning tool. However, nothing beats obtaining expert guidance from someone who knows what they’re talking about. As a result, consultants are in high demand among entrepreneurs, professionals, and regular people.
The following are some of the fastest-growing consulting industries:
- Guide businesses on how to communicate with their audience on social media.
- Interior Design: Give advice on how to make your house or office more appealing (big now that people are working and schooling at home)
- Taxes: An increasing number of people are handling their own taxes and require assistance in maximizing their savings.
- Marketing: Assist businesses and entrepreneurs with product/service branding and marketing strategies.
- Business: Whether you’re beginning or running a business, you can lend a hand.
- The beauty of these fields is that you don’t need a four-year degree to work in them. You can enroll in online classes or use the internet to self-educate. There is also a sizable market in the legal, medical, government, and academic domains.
3. Train to be a coach
A life or business coach, not a sports coach. What’s the difference between the two?
A life coach is a professional who assists you in managing your life. Perhaps you’re having trouble juggling work and home life. Or you want to live a healthier, more fulfilling life but don’t know how. Even individuals in search of their life partner may find themselves working with a life coach.
It’s also a fantastic business to be in. Life counseling will be the second-fastest-growing business by 2020. It is predicted to continue growing at a rate of 6.7 percent YoY (year-over-year). But the value is much more impressive: its global market is worth $15 billion.
You can specialize in one area, such as health, lifestyle, dating, or fashion.
What is a business coach, exactly?
A business coach assists professionals with their working lives. For example, they may be able to help with:
- Increasing efficiency
- Increasing revenue and fostering a healthy work environment
- Changing the branding
- Taking care of public relations
- Creating business strategies
- Assessing the needs of the company, as well as its strengths and shortcomings
- The market for business coaching in the United States is worth $11.6 billion, making it an appealing field to enter.
4. Pursue a career as a real estate agent.
The real estate industry, believe it or not, is still flourishing (even amid a pandemic). In 2021, millions of people are likely to enter the housing market. The fact that interest rates are at an all-time low also helps.
People will always need a home, so the housing market is a strong sector. You’ll always have clients, whether you’re selling properties or managing rentals. Self-employed realtors make the most money, with a salary of $106,280.
If you want to work as a real estate agent, you must first obtain a license. The classes and exams can be completed in four to six months. Online classes are available, but you must meet your state’s criteria.
5. Offer digital products for sale
Digital consumption is on the rise, but you already knew that. You’re probably a digital native (or a digital convert) who uses technology on a regular basis. More individuals than ever before are consuming digital information. And e-commerce is rapidly expanding. According to a survey conducted in 2018, 70% of Americans purchased products online.
This is why e-commerce is becoming more popular. Finding suppliers and manufacturers to source things to sell is simple. Amazon also allows you to handle vast inventories without having to rent storage space. Drop-shipping is another possibility. You may sell things without having to manage inventory by working with a drop-shipper. The products are delivered to the customer directly from the drop shipper. All you have to do now is create a website, promote it, and get people to buy from it.
But it isn’t only physical goods that they are purchasing. Digital items are becoming increasingly popular. By 2025, the global market for online courses, for example, is expected to be worth $325 billion. Between 2020 and 2024, this will be a $12.81 billion increase. Even a sliver of this pie might mean big bucks for course creators.
As a result, you’ll notice an increase in the number of online courses available. Everything from how to start a business to how to create candied apples is covered in these classes.
Audiobooks, e-books, digital art, movies, and software are all examples of digital things you can make and sell.
But what if you don’t want to make or buy anything? There’s another possibility. Affiliate marketing is a type of marketing that allows you to promote the products of others. Your job is to publicize it and persuade people to buy it. A blog is the most popular way to accomplish this.
Product-related blog posts will be written by affiliate marketers. “How to Manage Your Freelance Finances,” for example. Then they’ll provide a link to an accounting tool as an affiliate link. They get a percentage of the sale when customers click it and buy it.
Locate the Highest-Paying Self-Employed Positions
Being self-employed allows you to achieve financial independence. It also gives you more control over your lifestyle (and work). But what if you’re seeking for the best, highest-paying self-employed jobs? Then selling products should be your forte.
You can maximize your profits by selling goods online (particularly digital products). It has cheap initial and ongoing operating costs. Plus, there’s no limit to how much money you can make. People who sell items online can make six or even seven figures per year.