No matter where we work or what work we do, whether we love it or not, even if it’s our dream job or if we’re just working there for a short while, nothing beats being self employed. By being self employed, you’re basically your own boss, you choose what goes and what stays, what strategies to use, your target audience, how your business flows, your working hour, and so many other things. Though, when it comes to growing a business as a self employed individual, there are so many mistakes we tend to make like not strategizing, not planning, injecting little income, and so on. Whatever the case may be, being self employed has it’s perks.
Self employment comes with it’s advantages and disadvantages; how you deal with them depends on how your business will grow. However, focusing more on the advantages is the way to go; and here are some of the wonderful advantages of being self employed.
1. Unlimited Income
Working under someone means your income is limited and fixed to a certain amount which comes ones every month or weekly; depending on your job. However, your income is already fixed by your boss; except you get a raise which doesn’t happen often except you work really hard. But, by being self employed, the amount of money you could earn is unlimited and endless! You can even earn up to 20X more than what you were earning at your previous job though, it depends on hard work and consistency. Unlimited income is one of the greatest rewards of being self employed as you’re in control of how much money you make depending on the price you fix for your services or products and, you basically reap what you sow. It may take you a while to achieve this but, you’ll earn more money being self employed than you will, working under someone.
2. Flexible Schedule
A lot of day to say businesses where you work under someone are usually 9-5 jobs. You work under this time frame everyday and barely have time to focus on other things; and the only time you’re free is during lunch break or during the holidays; after which you’re back in the office. One of the benefits of being self employed is that your time isn’t set by someone else but rather, by you. The best part is that you don’t have to worry about rushing or being late to work and having to coming up with a fake story or an excuse to give to your boss. You can set your working hour based on when it’s convenient for you thereby making you more responsible as you can wake up anytime, start work anytime, close anytime and still have enough time for family and outings; without having to worry about waking up 9am the next day. Not to mention that having to wake up early is one of the reasons a lot of people hate their day job. By being self employed, you get to avoid all the hassle of a 9-5 job.
3. Full Control
When you work under someone, you don’t even have full control of your sector; let alone the full business. Your job, roles, actions and responsibilities are defined by your boss and you can’t do anything without consulting him/her first. You’re told what to do and in most cases, how to do it; you just stick to the “status quo” put in place by your boss. One of the biggest advantages of being self employed is that you have absolute control over every aspect of your business. You decide what to do and how to do it, what audience to target, what time and how long you work, how your business flows, and you can explore creative and innovative ideas for the growth of your business. As your business grows, you decide who you hire to handle the workload rather than dealing with co-workers you can’t stand.
4. You Create Something That Lasts
A business is something that even your family members can inherit once it’s time; but when you’re working under someone, your family can’t inherit that business so in the end, you’ll lose. By venturing into your own business and becoming an entrepreneur, you’re creating something that’ll last and which may even end up being a family business if its successful. As your business flourishes, you’re establishing a something that can last and, that’s when you can bring in your family members to help grow the business and, upon old age or retirement, you may choose to pass down the family business to your kids thereby creating not just a business empire but a legacy.
There are so many benefits of being self employed and becoming your own boss; all of which you can’t achieve when you work under someone else. Not to mention that the possibilities of being an entrepreneur is endless and you can achieve anything; even going global. With the right choices and right tactics, you can go from a small business to a billion dollar company, still as your own boss.