The Pros and Cons of Being Your Own Boss
Updated: Jan 25
Many people have thought about being their own boss, but most of them have not been able to fulfill that dream. Have you ever thought about firing your current boss and becoming your own boss?
Becoming your own boss can be a dream come true, especially if you're spending your time exactly as you want to. But it does come with its set of pains. Being your own boss can be liberating, but can also be a nightmare. We'll look at some pros and cons of being your own boss.
You Are Your Own Boss
First and foremost, you don't have to call in sick - to anyone! You are the boss, so if you don't show up for work, who's going to say something to you? You work when you want to - or have to, depending on what stage you're at in your business. The bottom line is, you call the shots.
No More Office Politics
Petty office politics can be the hardest to stay on top of. The only person you need to worry about pleasing when you're your own boss is yourself.
Ability to Innovate
Working for yourself is the opportunity to be innovative and create whatever you want. All those years when you felt you were being held back, or you couldn't be innovative or creative. Now is your time to shine. Most entrepreneurs are on a mission to solve problems, to do something no one else has. This is your time!
Control Your Destiny
It's your business, so no one can tell you that you're doing it wrong. It's okay if your business doesn't look like someone else's who's doing the same thing. Remember, this is your chance to be innovative and creative. You don't have to copy anyone. You control what this company looks like. You control where it has the potential to go.
Working your own business can be stressful, especially in the early stages as you're trying to make things happen. You may be an employee of one, which means you are doing it all, you're the tech guy, the accountant, the administrator, the marketing expert, the content creator, and the list goes on. Gone are the days of the 40-hour workweek because you may have to work from sunup to sundown.
No Immediate Pay
Most start-up businesses suffer losses initially, and it may be years before they actually see monetary rewards.
Prepare for Failure
It's safe to say that everything you try to do will not work. In fact, you may fail at most things you attempt. The failure is okay and sometimes necessary as it weeds out the worst-case scenarios for your business. That's why it's important to push on even though you may fail - keep going until you find the thing that works.
You're Responsible if You Fail
Everything lies with you. You are the founder, the CEO, the chairman, the one all be all for this business. So should it fail to the point of no return, guess whose fault it is? Without a doubt, there's absolutely no one else to blame.
Choosing a life of entrepreneurship can be rewarding and painful at the same time. The journey can be a hard one, but a true entrepreneur will tell you that it's all worth it. You'll know if this journey is meant for you by reading my article, What Does Entrepreneurship Mean? Should you decide this journey is for you, I recommend starting the journey while you're working your job so money won't be a serious issue in the beginning.
Good luck with your entrepreneurial journey!