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June 9, 2010

So, You Want To Be Your Own Boss

With competition for jobs stiff and employment forecasts less than stellar, many people are turning to work as contract or freelance employees, according to Boston-based outplacement and executive coaching firm ClearRock.

The firm said government statistics show the contract labor force growing twice as fast as the traditional workforce, with freelancers projected to make up more than 25 percent of all employees by 2012.

Clear Rock said that even as the economy recovers, workers who have been shaken up by layoffs may see contract work as a surer way to control their own fate in the labor market.

The firm offers advice to workers considering full-time contract work:

  • Get support from your family, since freelance work typically requires more time on the job and offers no insurance or other benefits.
  • Reach out to former employers and other contacts to find work.
  • Get used to marketing yourself.
  • Specialize in a few subject areas that you know best, where you can outperform others.
  • Be prepared for dry spells when work is hard to come by.
  • Get help with tasks on the business side of your new venture that you're not prepared to handle yourself, and make sure you know what you need to know about taxes, licenses and permits.
  • Make business contacts through volunteer work.

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