Everyone yearns to be their own boss someday. It is not always pleasant to work for someone else day in and day out. Being your own boss comes with plenty of advantages, including the ability to take as much time as possible to get things done, flexible schedule, not sharing profits and not being answerable to a third person among many others. When you are your own boss, you do not have to put up with someone breathing down your neck to get things done. People who are their own bosses seem to be happier and more content with their lives. The truth, however, is that apart from the numerous advantages of being your boss, there are downsides for the same and some of them are highlighted below.
There is no person guiding you – The feeling of being completely independent is without doubt thrilling. However, the independence could also leave you feeling frustrated and confused over different issues because you have no one guiding you on what to do and how to go about different business-related processes. Having a boss means enjoying motivation and support, but when you are your own boss you may lack this and going wrong sometimes is therefore inevitable.
It can get lonely sometimes – This is especially if you are your own boss and without any person to help you with the running of your business maybe because you do not need any. You enjoy lots of flexibility and independence, but it definitely can leave you feeling isolated and lonely. There is a certain thrill of being in the corporate jungle and you will be missing this some days when you are on your own. Interacting with other people and competing can be amazing, but you do not have this luxury when you are your own boss.
There is just too much to do – The fact that you have no one else to run your business of work means that you have to multitask. You will be required to play all the roles necessary for your business to ensure that each and every part of the business is operational and functioning as smoothly as possible. This can be tedious, especially if there are areas of your organizations you are not very good at or familiar with. Failing to deliver means never succeeding hence you may need to put in extra efforts to get everything running perfectly.
You may have to work round the clock – The fact that you have so much to do could translate into working round the clock for the same for your organization. When you are your own boss, chances are that you will rarely have time to relax even though you enjoy a flexible schedule when there is just so much that needs to be done. You will need to work harder just so everything is running which could mean working past the usual working hours.
It could end up promoting laziness – This is because you do not have someone pushing you to meet strict deadlines. The strictness is a sure and efficient way of getting things done, but when you are your own boss, your style of working could be lax and lazy and this means taking longer before you can achieve set goals for the venture. It also opens opportunities for making shortcuts and cutting corners to get the work done and this could be disastrous for the business in the end.
No employee perks to enjoy – Big company employees have plenty of perks to enjoy as much as they may have to work with strict deadlines and rules. These perks can include paid vacations and bonuses which all work as motivators for the employees. However, it is highly likely that you will not get to enjoy this when you are your own boss. Before you reward yourself, you will always be thinking about all pending financial obligations and targets you must meet on your own. The going can get tough and you need to be understanding enough to forge on till you get where you wish to be.
You can’t be sure of a steady income – When you are employed, it is obvious that your income will be steady whether the company achieves its targets or not. But when you are your own boss, you are likely to enjoy good months and bad ones, meaning you may not always be able to pay yourself. You will actually need to work extremely hard if at all you want to make lots of money and when you go on leave your work is halted meaning no income at all. It takes a very good business strategy and commitment in order to make it as your own boss and still enjoy some good money in the end to spoil yourself.
In as much as there are so many advantages of being your own boss, you also need to weigh the disadvantages, so you know exactly what to expect on your journey. The more you know the better you will be in making the right decisions for your business.