Being Your Own Boss: The Perks and Challenges of Having Your Own Business

 

You’re at the crossroads of your career: on one hand, you want the security your job offers. On the other, being your own boss seems to be a good deal to get into.

Going out on your own and starting your own business can be a daunting thing to want to do.  There are a lot of things that needs to be done which can be a challenge to anyone. However, if you examine yourself being an employee realize that you could do better by yourself, and already have the skills and resources to run your own company; then maybe this will be the push you need, and the caveats that you need to take in mind with it.

You have your pick on clients

People have as many personalities as the stars in the sky, and you can’t exactly choose which ones to work with, especially when your boss tells you otherwise. That’s the perk of being your own person: you can choose which customers you serve. If your experience or gut tells you having this guy won’t be worth the trouble, you can always say no (respectfully, of course).

 

Of course, you have to build a reputation and clientele first. This can be done if a lot of your patrons from your previous work recognize you and your skill enough to decide to move with you. But if you’re just starting, you may have to grit your teeth for a while until you have a big enough market and expertise to be able to afford to refuse some business.

You pick your jobs

This is an extension of the first perk: with the ability to choose customers comes the ability to decide what kind of services you can do depending on what the client wants. This is a great option in the long run: this will give you a break from monotony, develop new skills and hone old ones, and basically become a better person–––all at your own pace.

This depends on what type of person you are. A good businessman and boss: basically, any good person, must be open to new experiences and possibilities. If you’re not open to the new, unfamiliar, and unknown, then you’ll probably have a hard time coming.

You pick your workmates

We’ve had that one guy at work before: the person who, because of one thing or another, you just can’t stand being with. Be it ineptness on the job, having a personality that just doesn’t jive with yours, or you just don’t like the way that other person turns his/her fork; you have to grin and bear it because you’re not in charge. Well, you’re in charge now! Not only do you call the shot this time, but you decide who you’ll have working with you

 

Taking people under your wing, however, means that you’ll have to take care of them, too. They’ll be looking up to you for guidance and instruction, and that’s no easy task. Depending on the kind of leadership you exude can get a variety of responses from your subordinates, which in turn will factor in your business’ growth. But the worst thing about this will be times when you’ll have to let someone go: that’s a heartbreak all over the place.

You get to keep most of the income

Money talks. For most people, this is a major factor in any life decision, including starting and maintaining a business. But the great thing about being your own owner is that you not only dictate your own salary; but you get the bottom line as well, depending on how you split with your other co-owners.

Just make sure you get the bills paid first. Operating expenses can be daunting, depending on the type of jobs you do. And like the saying goes, taxes are as inevitable as death, and you probably don’t welcome the thought of going to prison over tax evasion. Whatever the case, you’ll be responsible for the finances of your company, which will be another thing for you to worry about.

You can be an agent for social change

You’re a good person, and you care about what’s happening to the people and the world around you. Disease, hunger, social inequity, racism: whatever the fight you want to fight may be, now you have the power and resources to do something about it.

Just make sure you won’t alienate people, especially your clientele. The world is a big place filled with people from different walks of life, bringing different perspectives. What you see as good may be something different to others, however good anyone’s intentions may be.

You answer to yourself

Let’s admit it, not everyone likes to be told what to do. Being the owner of the business means you get to call the shots. You have the say on what needs to be done, how it’s supposed to be done, and when it should be done. And, if you have your employees, you can delegate tasks to them and lighten your load if needed.

However, you also have command responsibility: that if something happens, you’ll have no one to answer for it except yourself and the Higher Power you call on. Not only will your own decisions affect you, it can also have consequences on the business and those who work for and with you. So, be on your toes.

Edwin Oscar U. Gutierrez//Exeter Studios, LLC

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