Pros and Cons of Being Your Own Boss

Many people dream about being their own boss, and running the shows exclusively. However, only few have the ability and courage to fulfill their dream. And even out of those, there are only a very few who have what it takes to become successful.

There is a lot which goes into running a successful enterprise and the amount of commitment, persistence and hard work required is not every body’s piece of cake. And still, there will be many attributes of the setup which you would not like.

So, if you are planning to start something on the same line, don’t just clear up your accounts. First take into consideration the pros and cons of the proposition.

Instructions

  • 1

    Pros

    - You are your own boss

    The best and the most obvious thing is that you no longer work under anybody and don’t have to worry about the petty office politics.

    - More effort

    You are bound to put more effort when your money is on the line; the motivations levels increase significantly. If you wake up the whole night and finally furnish something which is valuable considering the market requirements, then it is you who will get all the accolades, and the money which comes along;not your immediate supervisor and his boss.

    - You can be more creative

    In an office setup many times it happens that you come up with an innovative and effective idea of bringing an overall improvement to the whole operational setup, but you end up getting completely ignored, and the worst part comes when somebody else takes credit of the effort that you had exerted. Ultimately, you stop getting more creative and involved and more or less flow with the motion. Being your own boss however ensures that your creativity knows no bound. You can imagine, set aims and objective and then manifest your thoughts into reality.

    - Flexible timings

    Although also dictated by the type of business, you can run your own business at the timings you want. This also has a flip side to it which will be explained in the cons.

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    Cons

    - You get overstretched

    In your own business you put everything on the line, and there will always be a tendency to overstretch. In an office an average worker will normally work for 40 to 48 hours depending on the nature of the job, but when you own the enterprise, especially when you are setting up, the working load can increase up to 80-90 hours per week.

    - You don’t get paid immediately

    In most of the cases, the businesses suffer losses initially and it is only after a long period when you are able to recover the capital amount.

    - Fear of Failure

    There is always a fear of failure when you are the man running the show completely. This feeling however keeps you going as well.

    - Stresses

    When you know that whether good or bad – it’s all on you, stresses start to take over. You start to worry about the minutest of details and it takes a toll on your health.

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