One of the things that I admire most about the younger millennial generation and those that are coming behind them is they understand that happiness and quality of life are more important than making money. It’s a lesson most of the older generations had to learn the hard way, if they learned it at all. 

Sure, you’ll run into salty old-timers who think today’s youth are soft, but I think they are smart. They are using specialized skills and ever-evolving technology to find their niche in a world that is becoming more splintered every day. Many are striking out on their own and choosing self-employment over the typical 9 to 5 routine.

Statistics bear out this new move by many to be their own boss. 

What do the numbers say?

The numbers actually sagged for a bit a couple decades ago when big-box stores and large corporations ran roughshod over the mom-and-pop businesses. However, mom-and-pops’ kids and grand kids were apparently paying attention and not having any of it.

A steady exodus of people have moved away from traditional employment and into the world of self-employment, usually without hiring others to help. A study by FreshBooks, a cloud-based accounting company, revealed the number of Americans looking to work for themselves may reach 42 million by the end of 2020, with almost half being of the millennial generation.

How many of these people who make the leap regret their decision? As it turns out, nearly none. Surveys reveal that while a lack of financial security both short- and long-term is a concern, the benefits of a flexible schedule, reporting to nobody but themselves and constant creativity all offer positive psychological benefits. These same surveys also show that most people prefer being autonomous to having authority and prestige.

In fact, 97% of those surveyed by FreshBooks said they had no interest in ever returning to a traditional work environment. Yes, 97%! It’s impossible to argue with those numbers.

Prepare for Self-Employment

If half of the 22-year-olds in the country are working for themselves, who are the other half walking away from traditional employment and embracing the world of self-employment? They’re people like you. And unlike many of the young adults trying to survive out there, you’ve got some experience on your side that will serve you well as you boldly strike out on your own.

I’d like you to consider a couple of things while letting the idea of joining the self-employed turn over in your mind:

1. Anybody Can Do It

You likely have certain skills and experience in areas that you care deeply about, or you have the desire to get those skills. Who cares if you’re a corporate attorney who has never had a day of dog grooming experience in your life? You love animals and a course on dog grooming goes by much faster than law school. You either have the skills or can get them, so don’t let not having them hold you back

2. Mitigate the Risk

Of course, there is risk involved, and it will probably be more than just your ego that takes a hit if things don’t work out. Many people who have gone on to lucrative self-employed lives started small. Keep your expenses low and don’t grow too fast just because it massages your ego.

3. No Plan is Perfect

Some people like to plan, plan, plan. While all entrepreneurs should have a basic idea of what to expect in the first 30 days, 90 days, six months and a year, don’t wait to begin because your business plan isn’t perfect, or conditions aren’t exactly as you’d like them to be. There’s always going to be a reason not to take the plunge. Plan as best as you can, then go for it!

 4. Find a Career Coach

I also urge you to consider sitting down with a career counselor to talk about the things you’re interested in and the direction you see yourself heading. I have worked with many people who have decided they want to become self-employed but needed guidance on what that meant in their situation.

It’s human nature to convince yourself that your plans are perfect or horrible, or to become overconfident or scared. It’s also natural to believe you are predestined to succeed or fail. I can’t think of a single person I’ve worked with who has not experienced these extremes.

It’s good to have another person to share your ideas with as you start; someone who can provide constructive feedback and serve as a cheerleader. You’ll have plenty of people telling you that you’re crazy if you go out on your own. Don’t listen to them. Get the right kind of people in your corner.