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Work for a company or work for yourself?

Posted by The New N Used Link Team on Thursday, June 6, 2013 Under: Business

 

Its very hard to live a lavish lifestyle from just working for a ordinary company especially in a developing country. Most people in developing countries migrate overseas where the dollar is high and lets face it.....everyone deserve to have a shot at being a millionaire and also most of us at one point or another have thought about whether it is better to work for a company or to start your own business and work for yourself. The first thing you need to consider when you think about going into business for yourself is whether it makes sense for you to do. Does giving up what you are doing now make sense for you? Do you have the qualifications? Will it be worth it to you? This may be too radical a change for you to consider now. On the other hand, if you aren't doing anything now anyway, now may be the perfect time to take that step. 

 

The Pros
Being your own boss is terrific for some and terrible for others. Here are a few of the positive aspects of being in business for yourself:

Builds Self-Esteem - If you succeed, you did it because of your decisions and your efforts.
Choice - Want a raise? No problem. Don't want to work this Friday? No problem - take the day off!
Commute - Commute? What commute? You can choose to work from home. (This is especially easy to do if you're a web-based company.)
Control - You decide which jobs you will pursue and take... no one will assign you tasks, deadlines, etc.
Flex Hours - You set your own hours.
Flexibility - Exercise greater childcare options. Work in your underwear. Set up your office in your backyard

Freedom - You're the boss - what do you want to do today?
Limitless income opportunity - Creativity and hard work can reap large rewards.
No Incompetent Boss - That is, unless, you're incompetent.
Quit a job you hate. - Boss driving you crazy? Tell him to take this job and shove it... you ain't working here no more.
Retire When You Want - No golden watch unless you want one.
Satisfaction - It is a deeply satisfying feeling to hold the reins to your own enterprise.
Tax Advantages - Check with your financial advisor to learn what you need to know up to take advantage of every legitimate deduction.
Technology - Today's software can help you do more, do it quicker, and do it better so you can deliver more, deliver it faster, and deliver it better.


The Cons
If working for yourself had no down side, everyone would be doing it. Here are some of the negatives related to working self-employed:

Long Hours - You traded your boss for dozens or even hundreds of bosses.... your customers.
No Regular Salary - Could be feast or famine. But much of this will depend on you.
No Paid Sick Leave - You'll have to spring for your own insurance too.
No Paid Vacations - Take off for as long as you like. Go anywhere you want. Do anything you like. As long as you can afford it.
Paperwork - Not everyone likes paperwork, but as the owner of a small business, the responsibility for getting it done rests with you.
Responsibility - You'll be held responsible for every failure or shortcoming in your business. Customer complaints almost always end up on your desk.
Uncertainty - Successful entrepreneurs are always focused on keeping the money coming in. Fortunately, this is more a matter of smart thinking and hard work than it is a matter of luck. 

 

In : Business 



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