You see them leading meetings. You see them mingling with top executives. You see them making suggestions and people actually acting on them. Who are these people? These are independent contractors. When you ask what independence means, it’s what many people wish to be (but don’t dare to be). We dare you.
Independence means having the boundless freedom and flexibility to apply and demonstrate your true working potential. Unlike traditional employees, independent contractors have the right to control most of the business, financial, and behavioral aspects of their job (source: IRS Seven Tips). While traditional employees are bounded by rules and directives, independent contractors have the legal right to control what, when, and how work is done.
This autonomy allows you to challenge yourself, explore your strengths, and apply your skills such that your final output represents you, your true capabilities, your very own masterpiece. You have the opportunity to go above and beyond expectations. When you deliver, take advantage of that. The ultimate benefit is greater recognition, respect, and reward.
Here are some other interesting points about independent contracting.
- Independent contractors that are so good at what they do (we call them TopMavens) can often complete a deliverable with flying colors in half the time it would take someone else. Instead of hanging around the office, they can go do something else like spend time with their family!
- Independence means working for yourself. As long as you deliver on time and with the desired output, take advantage of working at home, using your own equipment, managing your own hours.
- Did you know as an independent contractor, you are saving your client money? It’s true according to Nolo.com. A typical employee costs 20-30% more per hour than an independent contractor. Even though you are paid a higher bill rate, clients save on payroll taxes, employment benefits, office equipment, and other employee related overhead costs.
- You choose your work. If you don’t like an assignment then choose a different one. You find the work you like, you or your vendor negotiate your compensation, you manage your time and finances,and you control your success.
- Achieving independence is a life-changing event. With independence comes greater responsibility and greater rewards. Be proud of your Independence.
- Now that you know what Independence means, read our next article Is Independence Right For Me?