The Pros and Cons of Being Your Own Boss

The Pros and Cons of Being Your Own Boss

Giving Up The Day Job

So many people wonder what it’s like to run their own business.  They sit in their office day after day, often staring out of the window, wondering what it would be like to answer only to themselves.

Being self-employed is often seen as being preferable to having a boss and sometimes this is true.

The Upside

1. No boss

2. No commute if you work from home

3. Don’t need to ask permission to go on holiday

4. Choose your hours

5. Do the kind of work you really enjoy

6. Freedom of choice in brand, company name, style, website, products and services

7. Control of your own destiny

Reality Bites

After the initial euphoria of handing in your resignation and realising your commute is now 30 seconds instead of 3 hours, reality hits home.  Where will your clients come from?  Who will do the accounts?  What do I pay myself and where will I find the money to pay myself?

The Downside

1. Dealing with the Revenue

2. Keeping accurate books and remembering to save up your tax

3. Finding new business (I like doing this so for me, it’s an upside)

4. Staying disciplined and remembering to work instead of watching daytime TV (again, I find this easy, besides, if I’m desperate to watch Loose Women, I can catch up on the internet)

5. Establishing your service and your product, then packaging it so people want to buy it

6. Dealing with IT (unless your business is IT)

7. Knowing when to stop working and focus on your home life

What Actually Happens

Business goes in big cycles.  Sometimes it’s easy and work flows in.  Sometimes its harder and you need to work hard to get work in.  When your business grows, you need to make the change from lone worker/expert/passionate zealot to sensible boss and leader of people who delegates things.

You then need to become someone who can think ahead, plan ahead and develop people so you can go on holiday occasionally.

Then you need to manage growth and profit and tax and numbers as well as people.

Then you need to think of more things so you can expand your product or service or make it even better.

Or, you can stay small and be happy with that too.

Is The Grass Greener

It depends.  If you like to be free to make your own decisions and your own mistakes, then yes, it probably is greener.

If you hate the idea of not having a steady income or managing people or clients or the Revenue, then it probably isn’t for you.

There’s only one way to find out though….

Rebecca Bonnington


Be More YOU


[email protected]

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