One of the most common half-truths related to entrepreneurship and entrepreneurship today is that of being your own boss.
While it might seem like a myth, ultimately a half-truth isn’t such a bad thing when you consider that there are many real positives to being independent. Although, naturally, being one also implies a series of negative aspects that are worth understanding.
Personally, I have spent many years “ being my own boss ”, including more than 10 years as a blogger and a few more as a business promoter in the real estate environment.
In my case, working to ” be my own boss” was never really the reason why I did what I did. In fact, what motivated me was always the idea of making money online or generating passive income that allows me financial independence.
I left what could be considered a good I work because I wanted to build my own. Regardless of how difficult it might be at the beginning, the dream was worth it. And thanks to that I built an Internet business system that has given me enormous satisfaction in every way and a real estate company that grows every day. The
” own boss factor ” was something that just came along with it.
PROS OF BEING YOUR OWN BOSS
1. You are behind the wheel. You make the decisions yourself.
There is great satisfaction in being able to act on our hunches, guess, or just do what needs to be done. So you can take the risk and spend the money without fear of failure.
We often talk about ownership as the key to job satisfaction; And when you’re the boss, it belongs to you. Not having to ask anyone can mean a lot.
This is a wonderful thing for me because I am one of those people (just like you?) who feels safer as a driver than as a passenger. Especially in business.
2. You set your own hours.
Perhaps you are an early riser, or someone who prefers not to work certain hours in the evening to attend to personal activities, or you want to occasionally attend to certain social matters. Maybe you like to work for certain periods with focus and great intensity.
When you are your own boss, you eliminate the old habit of heating a chair for hours.
You become responsible for your production, not your hours (unless, of course, you’re a customer service company, which I’ll get to in a bit).
3. You establish your own work style, work environment and (to the extent you can afford it) your work teams.
Some bosses are better than others at upgrading technology, choosing a good office, buying modern furniture, etc.
How fast is your internet? When you’re the boss, that’s up to you.
Do you like to work at a corporate desk, at a conference table or at any desk? It also depends on you. A good view? Good coffee in the kitchen? All up to you.
4. You set your own location.
Why stay to work in Bogotá if you prefer Medellín?
Don’t take that frustrating subway ride downtown, if you can stay in your city. Make friends with people at the corner coffee shop or stop by Starbucks every day, why not? You are the boss. It’s up to you.
See also: 5 Useful Tips to Follow Before Starting a Business
CONS OF BEING YOUR OWN BOSS
1. Your consumers are your boss. Your clients are your boss.
Many times, during the years that I have been as a real estate consultant, I have ended up late at night, tired, stressed preparing files to satisfy my clients who trust me for credit approvals for their houses.
I’ve never been able to follow the normal worker routine, where you either do it or you have a reason for not doing it. I need the business, I need the money, so I don’t have a choice. My clients are in control.
Even with time in this career, having built a business that sells to dozens of customers every month, the customers are still in charge.
We need to complete documents, make new sales, plan marketing activities, submit quotes online all the time. We need to stay updated and trained. But above all, meet marketing deadlines, delivery dates, finances, everything.
In a business, the health of the business is also your boss.
2. Your commitments —with suppliers, allies, commercial activities— are your boss.
You cannot afford to miss your commitments and still be successful. Your word is your most powerful asset.
Meetings, deadlines, and promises are commitments. You really can’t run a business without them.
3. If you have employees, in a way your employees are your bosses.
You lead and whether you like it or not, leadership is leadership. Which means your employees will be watching you.
You cannot do less than what you ask of them. As a boss that is probably the most important factor in the so-called corporate (or company) culture.
If you leave early, everyone will leave early.
4. You spend your own money.
Remember point three in the pros, about making decisions about your equipment, technology, bandwidth, etc.?
Great, because remember that later you have to pay for everything you decide you need. It comes out of your budget, not your employer’s budget, because there is no employer.
When times are tough, you may not need certain comforts; so the question is can you afford it?
5. You earn what you earn.
You have no guarantee of your salary or compensation. It all depends on you, your business, your customers, your market and your commercial offer.
The sole proprietor, the founder of a startup or the owner of a small business does not have an employer who establishes a stable compensation plan for him. Therefore, there is no real guarantee of how much you will have next month.
Even with all the disadvantages that may exist, I consider that being your own boss is something that is worth it at all costs. As long as you are aware of the challenges involved and that you commit to being responsible with yourself and your resources.
On the other hand, if even with all the advantages you don’t feel comfortable, nothing happens, remember that being a boss isn’t for everyone either.