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When it comes to work I think there is nothing better than being your own boss and working for yourself. I have been working for myself since I was 17 years old and can’t say anything but the fact that I love it and wouldn’t want to change it at all.
That being said, working for yourself is not always as glamorous as it sounds and today I want to reveal the benefits and drawbacks of being your own boss.
| Hours Worked | |
|---|---|
| Benefit:As your own boss, you literally have the freedom to choose exactly when you want to work and how many hours you want to work for. This allows you to plan your life in such a way that you have time for your hobbies, activities and your family and friends when you want. You have the option of taking a week or a month or even a few months off at a time if you have made enough money to be able to do that. | Drawback:The reality is that being your own boss often results in you working twice as much as people who work for a boss. This is especially true when you just start to work for yourself and need to build up your business until it is making you enough money to be able to take it easy and work far less hours while still making good money. |
| Decision-Making | |
| Benefit:Being your own boss means that you have control over all the decisions for your work or business. If you want to buy Louis Vetton furniture or have a fridge stocked with ice-cold beers in your office, you can have it. Anything you want to do is possible, you do not need permission. | Drawback:On the flip side, being your own boss means that your success depends totally on your decisions. If you make bad decisions it will cost you money. There is nobody to tell you that you should or should not do something. You don’t have to ask anyone for permission. This can be dangerous if you are not emotionally strong enough to resist temptations or if you do not have the discipline to stick to rules like ‘spending less than you earn’. |
| What You Earn | |
| Benefit:Working for yourself can be one of the greatest things in the world for you financially. There is no limit to what you can earn when you are your own boss. The harder you work or the smarter your ideas and inventions, the more you will earn. You can make millions of dollars a year as your own boss! | Drawback:When you work for a boss you may have a limit to your monthly earnings (your salary), but at least you have the security of a monthly sum going into your bank account. As your own boss there is nobody that will pay you at the end of the month. If you are lazy or make bad decisions you may not make any money at all. This is a scary thought and definitely something to consider when starting to work for yourself. I would suggest having 6-12 months living costs saved up before starting to be your own boss. That will prevent you from being under serious pressure to make money immediately. |
| Where You Work From | |
| Benefit: As your own boss you get to decide the location of your work or office. Of course it depends on the nature of your business, but you are free to choose the location of your office or premises and if your work is location independent, you can work from home or from anywhere in the world really. (Like if you work on the internet). | Drawback: The drawback to working from home, a hotel or a holiday-type destination is that it requires a lot of discipline and will-power to do as much work as you should. Since you have nobody looking over your shoulder and there are a lot of distractions in your work environment, you really need to stay focused on your goals. |
| Conclusion – Working For Yourself | |
| Benefit:
| Drawback:
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Overall, I feel that being your own boss is the best thing in the world. Even with all the responsibility of having the success of the business entirely in your own hands and with the discipline needed to focus on your goals and not be distracted by all the fun things, I would not trade it for working for a boss.
Not everyone would enjoy being their own boss and working for themselves. The discipline required and responsibility is too much for some people.
Some ideas of ways to make money while working for yourself are:
- Forex Trading
- Be a Blogger
- Be anInternet Marketer
- Write a Book
- Make Music
- Make a movie
- Start a brick-and-mortar business
- Walk Dogs
I know that many bloggers (myself included) talk about quitting your job and working for yourself. The truth is that you should think very carefully about the decision of quitting your job and working for yourself.
Do you think you can handle that kind of responsibility to make decisions and make your business successful?
Do you have the discipline to push yourself to work hard when there is nobody to tell you to be at work at 8am?
I mentioned it earlier but I will do so again: when you quit your job, fire your boss and begin to work for yourself, make sure that you have at least 6 months but preferably 12 months or more worth of living expenses saved up. The last thing you want when working for yourself is the added pressure of thinking about how you are going to pay rent or buy food at the end of the month. That way you give yourself 12 or 24 months of complete breathing freedom where you can totally focus on your business and make it profitable and successful. If you fail and exhaust those savings after a year or two you can always decide to get another job and find a new boss.
I wish you the best of luck on your journey of working for yourself!
P.s. I recently found a fantastic course from an 18 year old kid who makes five figures a month as a full-time blogger how you can start to make money blogging . It’s called Dude I Hate My Job. Have a look at his intro videos and you will understand why I recommending him! He covers everything in enormous detail (and kinda took my idea of a blogging course I wanted to create later on).
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