Being Your Own Boss

Topics: Entrepreneurship, Employment, Want Pages: 3 (925 words) Published: February 22, 2011
Being your own boss comes with a lot of responsibility and isn't just about taking a break whenever you want to. You have to look at the reality of what being your own boss entails, and not just focus on the glamorous thoughts of freedom. Clear objectives are the key – personal as well as business objectives. You need to be clear about what you want from having your own business and ensure that your goals are realistic before proceeding any further. Think about the following: money, risk, working hours and working patterns, personal development and achievement, independence. Here is a rundown of pros and cons of being your own boss:

1 - Be Your Own Boss: This is the obvious one. No more boss breathing down your neck, and no more petty office politics or egos to deal with. Score!  2 - The profits are YOUR'S to command: When the money being made is from your blood, sweat, and tears, you'll be more motivated to take the big risks that result in the biggest gains. No more will you put your all into a project only to receive the same salary as that guy two cubicles over who's only still there because it's cheaper than firing him.  3 - There's less restraint on your creativity: Did you ever have an idea for how to make your job more efficient, or your company more money? Didn't it irk you when management completely ignored it, instituted it without giving you credit or reward, or, even worse, gave the credit to those guy two cubicles over? With your own business, you'll be free from Pointy-Haired Bosses or restrictive policies, and you can finally implement all those wonderful ideas you had - and you'll reap all the benefits.  4 – Flexibility: it can be much easier to balance your work and personal life when you’re not reporting to someone else. Depending on the nature and demands of the business, you can do what you want when you want. 5 - The self-employed are much better off than the employed when it comes to...
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