Is Being Your Own Boss All It’s Hyped Up to Be?

Many people would love to have a career which would enable them to be their own boss. About one of every five workers now works from home. Of course, not all of them are their own boss, but the numbers are rising. The following information answers the question of whether being your own boss is all it’s hyped up to be or not.

Why Do You Want to Be Your Own Boss?

A gallop poll cited that nearly 70 percent of us don’t like our jobs. But if dislike of a job or boss is your primary motivation you might be setting yourself up for disappointment. If, on the other hand, you have a specific goal and have wanted to be your own boss because you actually desire to work independently, venturing out on your own has the potential to work.

Are You Self-Motivated?

Are you a procrastinator? Do you always put off things you know need to be done until the last minute? Unless you are a high energy, self-motivated individual, being your own boss probably won’t work out well. Without a job that requires you to be there for specific times, you must be able to put in a lot of hours and work on your own initiative without a boss overseeing your productivity.

Are You Organized?

There are many creative, talented people who have an extraordinary amount of ability in specific areas but often need the supervision and organization of a boss to ultimately be successful. If you’re constantly losing items, missing appointments, and in general are “scattered” being your own boss will be difficult.

Do You Have Excellent Credit?

This may initially not seem relevant to how easy or hard it will be to work for yourself, but it will likely have an impact on how difficult it will be for you to run your own business. With few exceptions, working for yourself will take start-up capital. If your credit isn’t good enough to take out a loan or obtain a low rate business credit card you will likely struggle at being your own boss.

Do You Have a Plan?

Mapping out a detailed plan and setting goals are crucial for successfully being your own boss. If you want to start your own catering business simply being a good cook is not enough to succeed. You need to map out a detailed plan regarding finances, marketing, and where you’ll do the food preparation. You also need to be able to set weekly, monthly, and yearly goals, and then make a specific plan regarding how you’ll meet those goals.

If you want to work for yourself for the right reasons, are highly self-motivated, organized, have good credit, and have mapped out an effective plan, working for yourself may be a great experience. If you answered no to the previous questions it’s likely that being your own boss won’t work out as planned.

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6 thoughts on “Is Being Your Own Boss All It’s Hyped Up to Be?

  1. Only 7% of people are self-employed, so it’s self-evident it’s not for everyone. Isn’t the most common route work as an apprentice, build your skills and start your business while working elsewhere.

  2. Business success requires troubleshooting, problem-solving and decision-making skill. It takes determination, self-motivation and assertiveness. It doesn’t matter if your focus is marketing, accounting, engineering, design, web development or welding. Now you get to wear all the hats. You can outsource some of the work but you are still the chief everything officer. Running a business is harder than it looks but can also be very rewarding.

  3. This was a very informative article. I have been considering starting my own business and I found these tips to be straightforward and helpful.

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