I have had the opportunity to work for an employer and for myself. I can tell you that neither is easy and we all know that work is no vacation. Working is not playing, whether you do it to generate profit for yourself, or to earn a salary. In today’s employment market it might sometimes seem that it would be easier to start your own business than to compete for jobs available. You must take into account though, that if you work for yourself you alone will be responsible for your own success or failure. I truly believe that there is no one way to earn a living that is “better”, although it is a question of finding what is right for you, taking into account your skills, personality and needs.
When you work for an employer you earn a salary that increases, your income will be incremental and your employer will enjoy most of the benefit from your labour. The flipside of this is that while your employer will earn a solid return in good times, he will go hungry when things get rough, long before you lose the security of a monthly income. You are also expected to follow instructions, even when you disagree with the course of action, but again, you will not be the one to bear the consequences should things go wrong. There are many benefits to working for a boss; you have the stability of knowing you are getting a monthly income (and in some case – benefits), and that you have the protection of some of the strictest labour laws in the world.
Working for yourself can be very rawarding, but it has its disadvantages. Working for yourself takes a great amount of self-discipline. You need to realise that your success or failure will be up to you alone. This realisation might very well mean that you are the toughest boss you will ever work for. Most people who work for themselves work longer hours, have more stress than those who are employed by others and dont have the security of a regular pay cheque.
There is a lot of risk involved in owning your own business and no one else is to blame if you do not succeeed. Although, working for one’s self has advantages such as:
- Determining your own income
- Working your own hours, and
- Running your business as you see fit.
I believe that despite the many obstacles facing entrepreneurs, it is an important component in the building of our economy. Small businesses create employment much faster than large corporates. Aside from these pholanthropic considerations, the satisfying rewards of seeing your business grow, succeed and thrive – PRICELESS.
[box] Written By: Liselette Loubser[/box]