Work takes up a huge part of one’s life and hence it is important for one to enjoy one’s work. Additionally, one needs to factor in other conditions such as wage, relationship with colleagues, level of stress and one’s superior. Hence some might wonder whether being one’s own boss could be a solution to solving certain issues that one might encounter at work. Nevertheless, like everything in life, being one’s own boss has its pros and cons which are explored below.
Being a boss implies that one has the power to make work decisions. Additionally, one has the control of how things work out (Munnary, 2021). Nevertheless, control and power do not come without adding great responsibility to one’s work. One is responsible for the decisions made and might suffer severe consequences if bad decisions are made (Entreprenoria, 2016).
Flexible working hours
Some might argue that the biggest advantage of being one’s own boss is flexibility (Munnary, 2021). Although this is technically true, one needs to consider that being consistent in one’s work is one of the factors that keeps one’s business successful. Additionally, being invested in one’s own career can end up having an adverse effect, where one will go out of one’s way (hence out of working hours) in order to accommodate clients and for the business to thrive (Entreprenoria, 2016).
Throughout one’s life one strives for promotions and pay rises, however being self-employed one does not depend on others for progressions (Munnary, 2021). On the other hand, this also means that one does not have a stable and secure income. Therefore, one’s income highly depends on one’s work and business (Entreprenoria, 2016). In addition, one can counter argue that being self-employed ensures employment providing that the individual does not run out of business (Munnary, 2021). This is because when working with other people there is the possibility of being fired and hence job security is questioned (Entreprenoria, 2016).
As an employee one enjoys being recognised for good work. This might be portrayed through thank you notes, tips or an ‘employee of the month’ status (Munnary, 2021). Nevertheless, being one’s own boss, creates further satisfaction when one’s business succeeds (Entreprenoria, 2016).
Motivation at work
Being satisfied at work increases one’s motivation. Furthermore, when one is working for more than ‘just a salary’, work motivation would also be higher.
As seen above being self-employed has its pros and cons and each argument can have a counterargument. Therefore, if one is considering whether one should start one’s own business or not it is important to take time to reflect. Consider what the pros and cons are and how this can impact one’s life in order to make the right decision for oneself.
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Yasmine Bonnici graduated in Nursing and also completed her Masters in Counselling. She has worked with victims of domestic violence, clients dealing with suicidal ideations, bereavement, separation and anxieties. She is currently working with Willingness Team as a counsellor seeing clients who would like to explore their own identity and deal with any surfacing issues.
ENTREPRENORIA. (2016). The Pros and Cons of Being Your Own Boss | Entreprenoria. Entreprenoria. Retrieved 2 May 2022, from https://entreprenoria.com/growing-a-business/business-management/the-pros-and-cons-of-being-your-own-boss/.
Munnary, J. (2021). Top 10 Benefits of Being Your Own Boss in Comparison to Employment. Real Business Rescue. Retrieved 2 May 2022, from https://www.realbusinessrescue.co.uk/advice-hub/top-10-benefits-of-being-your-own-boss-in-comparison-to-employment.