Being Self-employed Vs Working For A Boss
You might have already heard from a lot of people just how risky starting your own business can be
. Nowadays, working for a boss can be even riskier, than starting your own business! Years ago, when you where employed by a particular company, you started from the bottom and worked your way up to higher positions, often working for that same company for 40 years and then on your retirement they award you with a gold watch and even threw you a farewell party. These days, being an employee can be such an unpredictable experience. You hear news about how corporations lay off hundreds of employees at a time, and some companies going out of business without even paying their employees superannuation! On top of all that, working as an employee can seriously limit your income-producing potential. Its interesting to know that most wealthy people in the world gained wealth through being self employed.
While it may be true that starting your own business has its risks, these risks can be minimized or even eliminated if you are equipped with the right set of tools, knowledge and skills. This is the reason why you should conduct a business plan and feasibility study before you actually start the business itself. A business plan and feasibility study allows you to assess how profitable a business would be in a particular location, all while considering other important factors. By being self-employed, you are able to choose your hours of work, place of work, and the people you work with; you technically call the shots when you have your own business. If you have your own business, your income will usually be dependent on how hard your work; the more time and effort you put in your business and the smarter you work, the better your results would be. When you are self-employed, you wouldn"t have to worry about being fired and looking for another job again. You are also able to have more control over your time and your life as well. Many employees claim to have almost no time for their families because of their work, but with your own business, you can choose how much or how long you work in order to spend some time with your family! You can set your own holidays and wouldn"t have to worry about your boss calling you back to the office and cutting your holidays short. In other words, you being self-employed is all about having flexibility and having more control over different aspects of your life.
Since you have more control over your work, your time, finances, expenses and other factors of your business, you must also understand that it is your responsibility to help your business grow. Unlike being an employee, you call the shots here, but the future of your business will greatly depend on the decisions you make and how well you manage the business.
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