Self Employment Working for yourself Profits Employee Employer Salary Business
Working for yourself has all the advantages of independence, but comes with the responsibility to plan ahead and to ensure a steady flow of work. When working for someone else, you forfeit the kind of flexibility enjoyed by the self-employed, but the immediate concerns over the supply of incoming work is taken care of by your employer. This contrast of scenarios may be a little over-simplified but for the sake of comparison, it illustrates the main differences between working for yourself or for someone else.
Many would only ever think of working for somebody else - the idea of working for a regular fixed wage, even if it is a low wage, is considered the wiser choice because it suggests security. Running for safety is not in itself a wrong thing to do, but the limiting long-term consequences of such a choice should be weighed against alternatives that promise greater financial rewards. Some will find the risks and responsibilities of going solo, large enough to tilt the balance in favour of caution and predictability.
The hungry entrepreneurial mind finds it impossible to be dispassionate about the chance to earn more money. Making money is the stuff of their dreams. Financial success is the goal of their every thought and action - the thought of a break is rejected as a wasteful loss of momentum! No knowing how to 'take it easy,' they are already planning their next move.
Whether it is better to work for yourself or for someone else is a matter of personal choice or possibly, of social conditioning. The gap between rich and poor is widening all the time, making it ever more difficult for the those from poorer backgrounds to climb the great ladder that leads to business success. Many celebrated business men andwomen, proud of their humble beginnings, claim it was the hope of an escape from poverty and lack, that fired their determination to succeed.
Starting your own business is not for the faint of heart. Success, when it comes, vindicates the wisdom and pluck invested at the start when the outcome was not a foregone conclusion. An economic downturn dampens enthusiasm, so that some think twice about taking the bold step towards being their own master. The more committed entrepreneur will however, relish thechallenge, focusing on the promise of future profits rather than on the worries and cares of the moment.
Working for someone else is a very different scenario. The terms and conditions of employment outline what is expected from an employee. If the conditions are accepted, the worker has to work hard for the agreed number of hours. Even though he can expect to be treated fairly, the unalterable truth is that an employee is there for the benefit and convenience of the employer.
If you are diligent enough to satisfy an employer of your worth to the company, could you not be just as diligent looking after your own business? If, in your field of work,your skillsand experience are well established, why not work for yourself?
It can seem very daunting to move away from the security of working for someone else, but such worries ought not to stifle genuine and realistic initiative. If you areconfidentin your own abilities, it is a sound decision to take upon yourself the responsibility of your own financial welfare. Why not enjoy professional independence and the power to decide how to use the profits from your own hard work?
Is it better to work for yourself rather than for someone else?
If a poll were taken that asked this one question, the results would probably be close to the ratio between the self-employed and the employed. In real life we have made our choice, and that is the poll that matters most.
