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Best Self-Employed Jobs
3 Min Read | May 4, 2024
This article contains general information and is not intended to provide information that is specific to American Express, or its products and services. Similar products and services offered by different companies will have different features and you should always read about product details before acquiring any financial product.
Self-employment may appeal to those seeking flexibility and the opportunity to do work they enjoy. A study conducted by the Pew Research Center found that 62% of those in self-employed jobs say they're extremely or very satisfied, compared with 51% of those who are not self-employed.
What are the "best" self-employed jobs? There's no single path to self-employment that holds the title, as there are a multitude of work-for-yourself jobs for those looking to become their own boss.
Being self-employed means doing work in exchange for payment, outside the scope of a traditional employer-employee relationship. Someone who works in a self-employed job may call themselves an independent contractor or small business owner. Gig workers could also fall under the self-employed umbrella.
The IRS also defines self-employment on their website, which could be useful to understand for tax purposes.
Self-employed careers are on the rise, with 33.2 million small businesses operating in the United States as of 2022, according to the Small Business Administration. Those working in self-employed jobs represent a diverse range of economic, educational, and professional backgrounds.
Self-employment offers a wide range of possibilities for those interested in entrepreneurship or simply creating an additional stream of income. Deciding what type of small business to start depends on your skills and interests, as well as the amount of time and money you might put in.
With that in mind, here are some examples of the more popular self-employed job ideas based on earning potential and startup costs.
1. Freelance writing
Freelance writing is a creative way to make a living from self-employment for people who possess solid writing skills. Freelancers make money by creating written content, which may include:
- Newsletters
- Academic or journalistic articles
- Blog posts
- Case studies
- White papers
- Grant proposals
- Business plans
- Resumes
Freelance writing could also be a cost-effective way to start a small business, as it may only require a laptop and a good internet connection.
2. Real Estate Agent
Real estate agents may work within a larger brokerage but could be considered self-employed. Obtaining a real estate license may require an upfront investment of time and money.
Agents will likely also want to understand their local real estate market, enjoy talking to people, and possess strong sales, marketing, and promotional skills, but don't need a college degree to succeed.
3. Editing
Editors get paid to edit or revise written material published in books, newspapers, magazines, or online. Many freelance editors start as self-employed freelance writers, though that's not necessarily a requirement.
Self-employed editors may work in-house for clients or perform their duties remotely. They may focus on a niche, editing certain types of content, or take a broader approach and work with a range of different clients.
4. E-commerce
Opening an online store is another way to make a living from self-employment. Getting started usually begins with deciding what to sell, and then choosing an online platform to serve as the store's home base.
In terms of earning potential, several factors come into play, including:
- Types of products
- Demand for those products
- Promotional tools (social media, digital ads, etc.)
5. Dropshipping
Entrepreneurs who are interested in running a retail business but don't want to maintain inventory or ship products to customers might consider dropshipping. Here's how dropshipping typically works:
- A small business owner sets up an e-commerce website and lists products for sale that they've purchased from a wholesaler.
- Customers visit the site and purchase those products, paying the retail price set by the business owner.
- A third-party wholesaler handles order fulfillment, shipping the products to customers.
- The business owner makes a profit by keeping the difference between the wholesale price of the product and the retail price.
Becoming a dropshipper might appeal to those who want to gain a foothold in self-employment without high startup costs. Often, the biggest challenge is identifying the right product mix to facilitate a steady stream of sales.
6. Tutoring
Tutors make money by sharing their knowledge with students, either in-person or remotely, often through an online tutoring platform. Tutoring usually allows for a flexible schedule and has low startup costs. It's also possible to grow your tutoring business by offering in-demand services, such as SAT tutoring.
7. Virtual Assistant
Virtual assistants help business owners run their small businesses. Essentially, they do the work of administrative assistants but remotely.
For example, some tasks might include:
- Creating social media content
- Managing emails
- Scheduling meetings and appointments
- Making travel arrangements
- Returning phone calls
Virtual assistants may work with a diverse range of businesses, from global corporations to sole proprietorships. A virtual assistant might have multiple clients or devote their time to just one or two, depending on their schedule and the workload.
Some of the self-employed job opportunities mentioned above could be done from home or anywhere that has internet service. Additional examples of remote self-employed jobs include:
- Blogging
- Social media management
- Event planning
- Coaching
- Consulting
- Teaching and course creation
- Graphic design
- Website design and web development
- Photography
- Video editing
- Coding
Online content creation is another avenue to self-employment that doesn't fit into the traditional job mold. Content creators create video content for platforms like YouTube, TikTok, and Instagram, and then may monetize it through ads, brand sponsorships, affiliate marketing, and other channels.
Being self-employed usually requires a mix of hard and soft skills. The skills needed will vary based on the type of business venture and could include:
- Communication skills
- Writing skills
- Editing skills
- Marketing skills
- Tech skills
- Time management skills
- Research skills
- Analytical skills
Creativity, patience, and self-discipline are often critical to success as well since it may take time to establish and grow a small business.
Becoming self-employed may feel a little challenging, but there are numerous ways to broaden your skillset, including:
- Taking online courses
- Reading relevant books or articles online
- Watching related YouTube content
- Asking another business owner to act as a mentor
In some instances, the only way to learn the necessary skills for self-employment is through trial and error. For example, it may take several weeks or months of testing out different daily work schedules or routines to figure out how to handle time management.
How could I become self-employed?
Becoming self-employed is a process that begins with deciding what type of career to pursue and evaluating the skills necessary for it. Setting goals and creating a schedule or timeline for leaving behind regular employment may be the next steps. Those interested in self-employment may also want to consider how much flexibility they need and what kind of earning potential they're looking for in a job.
How could I make money working for myself?
There are different ways to make money with a small business, though they typically revolve around selling something either directly or indirectly. Aside from choosing the "how" of making money, there are also some financial questions to consider, including filing taxes and managing business finances. Opening a business checking account, for instance, could help you better manage business and personal expenses.
The material made available for you on this website is for informational purposes only and is not intended to provide legal, tax or financial advice. If you have questions, please consult your own professional legal, tax and financial advisors.
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