Is working for oneself as great as we all imagine it to be? In this article we will weigh the pros against the cons in order to help you make the decision whether or not to continue working for your employer or to become an entrepreneur and work for yourself.
Upsides
There are many upsides in working for yourself. First of all, you can make your own hours. Is 7 a.m. too early for you? Is it not early enough? Starting the day when you are ready can help you strive and, in effect, your business. Another benefit of working for yourself is you get to choose who you work with. You are in charge of meeting clients and keeping them. If you find there to be major clashes between yourself and a client you can move on. There is no more pressure from your employer to maintain a working relationship. Creating your own success can be a giant booster for someone working for themselves. Having that responsibility can really help to motivate you. Another pro to working for oneself is earning money for yourself. You no longer have to worry about all the reasons why you are not getting a raise – you are in control. Self-satisfaction is another big benefit of working with oneself. Sometimes the feeling of completing a task successfully can help to motivate you into your next task. Working from your home is another big pro of working for yourself – there is no commute. You can eat healthy, home-cooked meals, and you can be around your family more. Doing what you want is also a big seller for working for oneself. Have you ever been confused as to why your employer gave you a particular task? Now, these decisions are up to you. You are the one responsible for making sense of what your company is doing. Finally, last but not least, being your own boss. There is no better feeling than that of not having to answer to anyone for the decisions you make.
Downsides
One of the major downsides to working for oneself is the isolation. Whether you are working at home or in a office/cubicle by yourself it can get pretty lonesome if you are used to working with fellow employees. There is no random brainstorming meetings or even chit chat over a coffee. Work-life balance may also be a downside. Most people would think that running your own business would free up your time but on the contrary you usually end up working more. When you begin you might have to work nights and weekends in order to provide your clients with the services that will keep them. Benefits is another downside to working with yourself. There may not be any for a while. You will have to pay your doctor and dentist bills from your own pocket. This can become costly especially if you have any health conditions. Inconsistent cash flow is another downside to working for yourself. Some jobs may land you large sums of money that you will be able to subsist on for a couple of months, whereas others may only give you enough money to make it through the week. Learning to smooth out the transitions will become important. Another downside is the initial overhead costs. You are going to have to pay for all of the office equipment out of your own pocket. This not only includes computers and fax machines but also paper, pens, chairs, desks, etc.
