blog

work/zenpoint work/contracting

7 reasons to be a contractor

(March 21st, 2009 - 4:37PM)

Several months ago, I left the security of my full-time job to start Zen Point, my UX contracting company...and I haven't looked back.

I think you should switch to contracting, too. There are a ton of benefits to being your own boss, and after several months of living the life, I can honestly recommend it to you. Here's why.

  1. Save a TON of money in taxes.

    When you're a contractor, almost everything you spend money on is a tax write-off. Car insurance and gas? Write-off. Dinner out with a friend? Write-off. That PS3 you just bought? Write-off.

    As long as the expense is even remotely related to work, you can write it off. You will save you so much money with these write-offs that it's worth considering contracting for this reason alone. It's like getting a massive raise.

  2. Work when and where you want.

    Ever read Timothy Ferriss' excellent book, The 4-Hour Work Week? If not, you really should. It's one of the best and most inspiring business books I've ever read. You can buy the audiobook version on Audible - the narrator does a great job.

    Anyway, the reason I bring up The 4-Hour Work Week is because in the book, Timothy Ferriss argues that one of the keys to true happiness is mobility. Being able to free yourself from the 9-to-5 confines of the office is a huge bonus that will make achieving your life goals much easier. And if you're a contractor, freeing yourself in this fashion is trivial.

    I actually only go "into work" about twice per week. I might even phase that out at some point. I can shuffle my hours around to make my day more convenient and relaxing. I can sit on my couch and write code. Definitely a perk.

  3. More job security.

    Everyone seems to think that full-time, salaried employment is the key to job security...but is it? Are you really more secure if 100% of your income is coming from a single source? What if that source dries up? Wouldn't you be better off diversifying your risk?

    When you're a contractor, you can pull money from multiple sources. If one of those wells dries up, you only lose a fraction of your income. On the other hand, if you're working full-time for a company and they no longer require your services, you lose all your income.

    There are certainly some benefits to working full-time, but if you or a friend have been laid off, you know that with salaried employment, stability is just an illusion.

  4. Remove aspects of your work life that frustrate you.

    If you don't like the company you work for...fire them.

    Ever worked for a really miserable company, where you hated your job but were afraid to quit because you needed the money? Well, if you're a contractor, the solution is easy: fire the client.

    If you're a full-time employee, firing your client is more difficult because they represent 100% of your income. But if you're a contractor, clients can be replaced much more easily.

    It's nice to be able to pick and choose the projects you want to work on.

  5. YOU decide when it's time for a raise.

    At most companies, salaried employees get a review once a year, where their compensation is bumped up around 5%. But why should your salary be increased at a scheduled time once per year? It's not Christmas.

    When you're a contractor, you choose what you get paid. When you want more money, you raise your rates. Your clients will be remarkably willing to toss you a few extra bucks if your work is good.

    Get paid what you deserve, not what someone else thinks you deserve.

  6. Build your social network.

    When you work full-time for a company, you live inside their social bubble. You'll get to meet your co-workers, your clients, and perhaps a few contractors...but you're more or less limited to working within the social confines of your company. If you're a social butterfly like me, this drives you crazy.

    I want to meet new, interesting people. I want to expand my horizons. I want to know everyone. That's why I became a contractor. Now I get to work with a wide variety of different people, in vastly different lines of work.

  7. Work on a wider variety of projects.

    Working on the same project for several years is kind of a drag. I much prefer having several projects on the go at once. This exposes me to new technologies, methodologies and business processes. I can honestly say that each new client has taught me something really useful.

  8. Work for 61 minutes and charge for two hours.

    I think this one's pretty self-explanatory. ;)

So now you're convinced that contracting is a good idea, right? Well, in the future I'll probably write some tips for getting started. Stay tuned.

permanent link - digg this post - 38 comments

38 comments

March 23, 2009
All those advantages and you still bail on all of our plans 'cause you're working late.
March 23, 2009
Not tonight honey, I have a headache.
Your Clients
April 9, 2009
"Work for 61 minutes and charge for two hours."

Nice.

April 11, 2009
@Your Clients:

Aww, I love you guys. :)
July 9, 2011
I feel this is among the most important facts for me. And i'm glad reading your write-up. But wanna remark on some general things, The web-site style is fantastic, the articles is truly wonderful :D. Good job, cheers.
July 18, 2011
An individual built various advantageous facts presently there. I did looking with regard to within the challenge and also noticed a lot of men and girls might agree inside your internet page.
September 21, 2011
I would like to appreciate your hard work you did write this post. I am optimistic about the best job for the same path for the future.
October 10, 2011
The secret to happiness is to put the burden of proof on unhappiness.
November 1, 2011
I would like to show gratitude you for the hard work you did write this post.
November 17, 2011
This information will be very important for people who do different reserches in this area.
December 3, 2011
Excellent post and wonderful blog, I really like this type of interesting articles keep it u. I am really loving the theme/design of your web site.
December 11, 2011
Well, this is my first visit to your blog! We are a group of volunteers and starting a new initiative in a community in the same niche. Your blog provided us valuable information to work on. You have done a marvelous job!....
December 14, 2011
have examined almost all the posts on your blogging resource and I would like to go on but I terribly want to sleep. It’s 4 a.m. Next day – new life.
December 15, 2011
Excellent post and wonderful blog, I really like this type of interesting articles keep it u. I am really loving the theme/design of your web site.
December 19, 2011
There is no question that instantaneous water heaters are good options to trust in terms of their water heating services. However, you need to know that not all kinds of this water heater will work best for you.
December 23, 2011
Did you know about Freelance writing job service? I wanted to tell that your ideas connecting to this good post is supreme! Thank you very much for creating it!
December 23, 2011
Can I make a suggestion? I believe youve obtained one thing good here. But what for those who added a pair links to a page that backs up what you are saying? Or maybe you might give us something to have a look at, something that might connect what youre saying to something tangible? Just a suggestion. Anyway, in my language, there are usually not much good source like this.
December 25, 2011
I am very happy to find this blog.Thanks for creating the page! Im positive that it will be very popular. It has good and valuable content which is very rare these days.
December 25, 2011
Did you know about Freelance writing job service? I wanted to tell that your ideas connecting to this good post is supreme! Thank you very much for creating it!
December 26, 2011
wow..i had no idea you were so young! haha, i just mean you seem so experienced and skilled already to be only one year out of college. i am in school for design right now, with about a year and a half to go. thanks for the tips and insight!
January 2, 2012
The post is written in very a good manner and it entails many useful information for me. I am happy to find your distinguished way of writing the post
January 3, 2012
Excellent post and wonderful blog, I really like this type of interesting articles keep it u. I am really loving the theme/design of your web site.
January 5, 2012
A contractor can really save a lot of money in taxes. They doesn't have to pay a large amount every year.
January 6, 2012
Thanks for this informative post. It help me a lot. And it gave mo ideas on how to make more money in marketing business. I hope lots of people visit this site so they can easily learn this informative post.
January 6, 2012
Hey! I simply want to give a huge thumbs up for the good information you've gotten here on this post. I will probably be coming again to your blog for extra soon.
January 9, 2012
Multivitamins are the best way to increase stamina level in our body.Multivitamins are best to for the human skin and best for fight against virus.
January 12, 2012
Thanks for a very informative blog. Where else could I get that type of information written in such an ideal way? I have a mission that I am simply now working on, and I've been on the look out for such info
January 13, 2012
Nobody can go back and start a new beginning, but anyone can start today and make a new ending.
January 28, 2012
The love of beauty in its multiple forms is the noblest gift of the human cerebrum.
January 29, 2012
Its use will be off-limits for ordinary citizens, saving a million dollars a year and reducing greenhouse gas emissions in the region.
January 30, 2012
Congratulations on your accomplishment. The sense of wanting to help, but not knowing how or where, is something a lot of us are going through.
January 31, 2012
great. These are the reasons too why i became a contractor. anyway, I am glad that you had this stressed out.
January 31, 2012
It's rale an forthcoming stop. The penning treat old and the way of capability is rale inflatable. It's truly a official use. Thanks alot for the increase.
February 1, 2012
Thanks a lot for enjoying this theory secern with me. I am appreciating it dread untold! Adscititious nervy to rectangular penalise cerebration. Morality assets to the communicator! all the transactions!
February 1, 2012
What an amazing post that I have ever come through. It gives the information that I was really searching for the past week and I am really satisfied with this post. Need more like this. Thank you.
February 1, 2012
You got a really useful blog I have been here reading for about an hour. I am a newbie and your success is very much an inspiration for me.
February 2, 2012
Just wanted to say great job with the blog, today is my first visit here and I’ve enjoyed reading your posts so far
February 3, 2012
I think I am quite anxious about this technical meeting and I want to know the feedback of this meeting.I am sure it will be an extremely informative one and all those will attend it will be quite beneficial.

post comment

Required fields are marked with a *