So you’re thinking of taking the leap. Want to work for yourself and be your own boss? Tired of being told what to do and when to do it? Want to try something new and challenge yourself? Or, you’re simply just struggling to find a new job in the current market?
Well, you’re in the right place. But is working for yourself a good idea? Is it not ‘safer’ to work for somebody else? If you are thinking of working for yourself, then I’m sure these are questions you have asked yourself over and over again.
Today, we’re going to look at the differences between working for yourself and working for your boss.
WORKING FOR YOURSELF
I’m sure that everyone would prefer to be really successful while working for themselves. But is it really that simple? It’s well known that a relatively high percentage of businesses close down in the first 2 years after opening. Of course, a lot of that can depend on what type of business you go into and who your competitors are. If you are going up against Apple’s iPhone, you’re not going to do particularly well.
So what are the advantages of working for yourself? Well, let’s have a look:
- You get to set your own working hours!
- Don’t want to get up? Then don’t!
Yes, that’s right!! No more 6am starts or 14 hour shifts. No more phone calls to the wife or husband apologising because your boss is making you work late. This is a major advantage of being your own boss. YOU decide when you get up in a morning and YOU decide how long you are going to work today. Don’t feel like going in? Then don’t. You won’t get into trouble, you won’t be disciplined and you definitely won’t be missed. The only effect it will have is on your productivity and the potential loss of earnings – but as your own boss, that’s your call.
- No minimum wage or earnings ceiling
You don’t have to settle for that minimum wage. Just enough for you to live from week to week or month to month. You won’t be limited to the amount you can earn. In fact, if you’re successful, you could employ yourself as the cleaner and be the best paid cleaner the World has ever seen. Working for yourself, I suppose, does have one negative – you’re never entirely sure of what your next pay day will be. Although, if you’re successful, the amount it may vary might not really affect you at all. Especially if one month you earn £10,000 and the next month you ONLY earn £9,000. There really is no limit to the amount you could earn. The effort you put into your business being successful will definitely be relative to the amount you earn. Put little in, expect very little out.
- No long commute to and from work
You don’t have to set off at stupid o’clock just to get to work or miss the traffic or catch a certain bus at a certain time from a certain place. You don’t have to miss that train and be late every Monday morning. If you have an office elsewhere, you can go in when you want or just work from home. This is especially important if your business is a ‘work from home’ business such as a web-based company, which this website is all about – take a look around the website to learn more.
- Earn a sense of achievement
In my opinion, this is probably up there with the most important advantage of being your own boss. You put in the effort, you’ll reap the rewards. Along with that comes the amazing feeling of actually achieving something. Something that may be greatly lacking in your current environment – especially if you are out of work. You can be proud of what you are achieving and this only spurs you on to work even harder and achieve more. This, obviously, goes hand in hand with the potential to earn even more money along your way.
WORKING FOR SOMEBODY ELSE
- Constant, guaranteed wage
The ‘safety’ of having a wage every week or every month, irrespective of the performance of the company you work for, can be a big factor in whether someone decides to start up themselves or stay working for somebody else. However, unless you have a good amount of experience in your area of work, you’re likely to start on minimum wage. And it may take a while for you to get any form of pay rise. You are always going to be limited to the amount you can earn. You’re never going to earn £50-100K being an office manager. It doesn’t matter what field of work you are in, unless you own the business yourself, you will always have a ceiling holding you back from earning any more.
- Set hours
You may work in an office with normal working hours set at the standard 9-5 (even Dolly Parton sang a song about it!). This WILL become monotonous/boring/annoying/mind numbing – pick your own word for this as you see fit. Some words, I’m sure, will not be fit to print! In other jobs you may have to work unsociable hours. Night shifts, early shifts, late shifts. Unfortunately this is all part and parcel of working for somebody else – we can all moan about it to our colleagues, bore our partners to death complaining about – but there’s NOTHING we can do about it. Solution? Work for yourself!
- No input into the direction of the business
Got some good ideas for the business? Good. What can you do about it? Well…….not much really. Unless you have made it to the top (next to the boss of course) then you wont really have much say in the direction of the business. And if you don’t like where the business is going then you have two options. You can accept it and carry on or you can jump ship and try find another job (better still have a look around this website and set up yourself!).
My opinion? Get yourself set up. Just do it. If you put the work into your own business, you WILL be successful – unless you plan on challenging Apple or Lamborghini! That’s not to say you couldn’t eventually challenge them but at least give yourself some realistic goals for the time being! I have had the opportunity to do both. I have worked for many bosses, and like you have had the same opinion as everyone else. Muttered the same comments under my breath as anybody else. Wished my days away in endless jobs like anybody else. I have also recently begun working for myself – on this website. Its my own. I enjoy it. And I enjoy writing for it every day. I also enjoy helping people. If I can help people build a successful online business that this website promotes, while doing something I’m enjoying, then there is only one winner in my eyes – ME! I now work my own hours completely. I work on my website when I want and where I want. Give me internet access and I can work wherever I want in the world. ANYWHERE!
So go for it! Give it a go! Light the fuse! If you fail, then at least you have tried. You will only learn from it and be more successful next time.
My recommendation is simple. Wealthy Affiliate. I built this website using the Wealthy Affiliate model. It’s classed as an online marketing university and it gives you ALL the tools required to set up your own online business. Have a look at my Wealthy Affiliate review here for more information.
If you have any questions at all, then please feel free to ask. Leave me a comment below.
Thanks for reading!