Many 9 to 5 workers have dreams of starting their own business one day. Perhaps in a few years time when things are a little easier.
Starting your own business allows you to be your own boss and choose your own hours. However, best part is knowing what your capable of and knowing you gave it a shot, even if you fail. There is nothing worse than looking back on your life and wondering “what if I did succeed back then? I could be in a better place now”.
When you are young you are taught to goto school, get into university and get a good job. If you do manage land a high paying job where you are paid $100,000 a year, imagine how much money your employer is making to be able to afford your wage, your coworkers and still remain profitable. While you are working for someone else you are helping them build their own dream. The employer doesnt start a business so they can employ you, they do so to fullful their own dreams and you are a pawn in their vision.
Many people believe that starting their own business is a risk, and it is. However, I believe that not having your own business is an even bigger risk. In todays day and age there is no such thing as job security. Its quite possible for someone to work their way up the corporate ladder and having that job that is their only income, only to be suddenly fired. Their wage went from $100,000 a year to Zero and they still have all their bills to pay from their $100,000 a year lifestyle.
Thats not to say that self employed people are immune to such risks as their work load can also suddenly dry up. However, self employed people generally know how to create their own work. They are looking for work every single day unlike the 9 to 5 employee who is getting comfortable in their job and only had to go though that stage once.
I once had a client tell me that I would need to watch out for when computers become easier to use because I would be made redundant. I was shocked that they were telling me that because this person was a 9 to 5 employee working for someone else, who could fire them any time they want. From being self employed I have developed mutliple sources of income and If something was to happen to any one of them I could survive on the others. If they were fired, they would have nothing to fall back on
Some of my main reasons for starting my own business was so I dont have to work until I die and I can travel any time I want. In the last two years I have been around the world twice taking off 2 months off work each trip.
Finally, I dont want my back on my life one day and realise it was like this SavageChickens strip. Do you?
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“…From being self employed I have developed mutliple sources of income and If something was to happen to any one of them I could survive on the others…”
These other sources of income, are they related to your computer business or some other line of work? Maybe an idea for another article? This is something we are trying to accomplish as well (the multiple sources thing) and would like any ideas or input you might have.
I just started my own computer shop a few months ago. It is very hard at the beginning but as the business goes you will enjoy learning many different things/skills. However, I would suggest people to get a job first to get some working experiences, especially for the fresh grads.
Honestly from starting my own business, I enjoyed learning new things every single day.
My problem is that my business has simply nose-dived over the past three months, therefore I’m looking once again for “normal” work. And, the fact that my computer repair biz is my only income.
I believe in the “multiple streams” idea, but have no idea where the he!! to start with that.
Overall, the article is fine and I agree that there are pitfalls with working a 9-5 job. But, I don’t agree with the notion that it is a risk NOT to go into business for yourself. True you get to work your own hours and possibly less than 40 hours a week…but this is after you have established your business and have trustworthy people to manage it without your direct participation. The vast majority of business ventures fail because people get the idea in their head that it is always better to be in business for yourself since in the 9-5 “you are making someone else money.” But they don’t consider or aren’t prepared for the immense undertaking and initial cost of their money and time it takes to make a business successful. There are benefits to both sides and one should not make a decision too hastily.
Well put!
I agree with Bryce. After working 40-80 hours or more per week for years doing very dangerous security jobs for low pay, I figured there had to be a better way. Started my own business almost six years ago and have never looked back. It has been one of the best things I have done.
I think the comic sums it up very nicely. Although replace the TV bit with doing more work if you run your own business! Repeat until 50 and retire?
Jamie