Everyone wants to be their own boss.
Well, the idea of that is likely at least intriguing to everyone. Working for the man can be a very rough time, after all. However, and just like with anything, there are plenty of advantages of working for yourself — and disadvantages, of course.
So if you are thinking about taking the leap that is working for yourself, hopefully the following can help be your guide.
Advantage: Set Your Own Hours
This is a big one. Not everyone is a morning person. There are so many jobs out there that operate on the 9-to-5 schedule. If you work for yourself, you can also work whenever you want.
Yes, business needs to get done and there are still things known as deadlines, but working for yourself is all about setting up your own hours — working when you are most productive.
Disadvantage: Your Status Could Take A Hit
In some cases, people won’t take you seriously if you say you own your own business. That can of course be a shock to the ego. Some of this is justified because your business might not be as established as you want it to be.
Let’s put an advantage inside of a disadvantage, though: There will be plenty of fans out there who think it is amazing that you work for yourself, that you own your own business.
Advantage: The Freedom
Freedom is everything.
If you want to work in your pajamas, then you can. If you want to work at a local coffee shop, then you can. If you want to take a long vacation, although doing some work on said vacation is likely crucial, then you can.
You have all of the freedom in the world when you are your own boss. For some people, that is the most important detail.
Disadvantage: Balancing Home And Work Life Could Be Rocky
If you work for yourself, there is a good chance (although this does not apply to everyone) that you also work from home. Therefore, balancing home and work life could be a nightmare from time to time.
It can be done, though.
Advantage: Sky Is The Limit When It Comes To How Much You Make
When you are self-employed, everything you put into your company directly affects you.
In a sense, the sky is the limit when it comes to how much you can make. The concept of a salary doesn’t exist. More likely than not, if you work more hours, it will lead to a bigger bank account.
What’s not to love about that?
Disadvantage: No Guaranteed Pay
On the flip side, and especially when you are just starting off, there is no guaranteed pay when you are working for yourself. To make a long story short, you can plan ahead all you want, but your pay — at least at first — might be a bit of a mystery.
In a salary or hourly wage system (you know, when you are working for the man), you should know exactly what you are going to make.
The key takeaway from all of this: There are plenty of advantages when it comes to working for yourself, but there are also some disadvantages, and people need to plan accordingly.
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