living your awesome life one oops at a time
  • living your aweswome life one oops at a time
  • contact me
  • Contact Us
  • Program video
  • about me and why you should care
  • OUR STORE

Mind your own business

9/24/2013

0 Comments

 
Picture
Ever consider starting your own business? I did. In many ways I thought about it as early back as my elementary school. Yep, the lemonade stand, the garage sale, the even Steven  trade with the neighborhood kids.  "If you give me this, I will give you that." Minding a business I started has indeed been on my mind for decades.

What's on your mind? Tired of working for someone else? Willing to step out there on your own? Well it is almost never to late. Late is when you are out of time, out of interest. If any of this pulls at you, then consider the follwing when minding your business.

Source: Lifehacker Australia: Consider the Pros and Cons of Working for Yourself. The first big question you'll need to answer is whether the benefits of being your own boss truly outweigh the disadvantages.

Pros: The pros are pretty obvious, since they're the reasons millions of people dream about ditching their conventional jobs. Your reasons for starting a business should include several of these motivations, rather than, say, just doing it for the money opportunity:

  • You can make a living doing what you love (or at least what interests you).

  • You're in control of every aspect of your work life, from when you work to where and with whom.

  • You can choose which clients to work with and which projects or what kinds of business to go after.

  • You might find better work/life balance and can even work with your family (although that's a whole other situation).

  • You may get things done faster and better when you're free from office politics and red tape.

  • You have a chance to earn more than you would working for someone else. The money you have been making for others now shifts to yourself.

  • You'll have greater job security. That might sound counter-intuitive, but business owners typically have multiple clients, which lessens the pain if you lose one of them. Employees, on the other hand, have only one "client," their employer.

  • You build something that's all your own, which gives you a great sense of accomplishment and also life purpose.

Cons: There's a flip side to every coin. Which of the disadvantages below will really trouble you?

  • You'll have to deal with an uncertain income and possible cash flow problems ("feast or famine" describes it pretty well).

  • Finances overall will be more complicated (hello crazy tax laws!). Also, if you want to get a mortgage or other loan, banks will look at you differently and you'll have to meet higher criteria.

  • You have to be a self-starter every single day you work.

  • You have to do everything yourself (or hire someone to help you). "Everything" includes: managing the business' finances, marketing your products or services, organizing paperwork, dealing with lawyers, and chasing clients for money owed to you.

  • If you want them, you now have to pony up for the paid benefits you once got as an employee. These benefits can be very expensive, especially health insurance or even taking a vacation. (Business owners learn the true meaning of "time is money" when they try to take time off.)

  • You may be more likely to overwork and burn out.

  • You're exposed to the same problems that trouble those who work from home: isolation, pressure, and loneliness.

  • All of this can be much more stressful than working for someone else.

The good news, if you have read this post and are still interested, then you are on your way.

0 Comments



Leave a Reply.

    La Detra Joy

    I love being around people. I would rather live falling than break my spirit never trying anything hard. This blog is about trying and retrying life.

    SUBSRIBE TO FEED

    Archives

    December 2017
    October 2017
    September 2017
    August 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013


    Categories

    All
    Family
    Life
    Love
    Marriage
    Mistakes
    Relationships
    The Spirit
    Travel
    Victories

    Booking Inquiries

    RSS Feed

 copyright 2013 Noble Insight, Inc. All Rights Reserved