Being Your Own Boss Isn't As Amazing As You Think It is...
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- Опубліковано 31 тра 2024
- Hate to break it to you but being Your Own Boss Isn't All It's Cracked Up To Be. We all have a dream of giving a finger to the man and leaving our corporate jobs for greener pastures. But working for yourself is more challenging than you may think. Here's why.
0:00 - intro
2:24 - most people aren't cut out for it
4:26 - it requires extreme discipline
7:00 - always worrying
7:55 - there are no rulebooks
8:37 - you have to wear all the hats
10:54 - work-life balance
14:58 - no steady paycheck
16:03 - health insurance
16:53 - self-employment tax
18:11 - Am I returning to the corporate world?
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The link doesn't work :/
I have had a couple of small businesses. Never again. I like the corporate life. I close my laptop at 5pm. Pros and cons. Thank you for such an honest video.
Until you are 47 and suddenly get laid off, then realize you have no skills to offer the market that a 20-something can't. And let's face it, unless you are in a very specific profession (teaching, medicine), your age is aggressively playing against you after 40.
you close your laptop at 5pm in corporate? Good for you then. :(
Where did you work that you were able to close your laptop at 5pm? I'd like to find a company like that. Most don't respect my personal time.
No she doesn’t lol … that is a definition of a dead end job
@@cadcad-jm3pf I was a teacher. Although age is not seen as a negative compared to other jobs, older teachers are no longer seen as that valuable compared to in the past.
Everything here is spot on. My wife started her business last year and you're totally right about all of it. Saying "no" and setting boundaries is difficult when it's directly attached to how much money you will make.
Thank you for all of the help you provide with this channel! You've given a lot of great advice and validation. The hard work is recognized and appreciated bud.
I really appreciate that!
And no one talks about the defeat you feel when you pour your love into your business and nothing comes of it. It’s hard reconciling with it being a long game. This was great and I think more people need to hear this. Great video!
Good to see a realistic take on entrepreneurship. For over a decade everyone acted like it was the golden ticket, but all data shows that it is a true hell to start up a company and the most successful entrepreneurs are well above average people. Thanks for sharing for us regulars.
Agreed, the failure rate of startup businesses is quite high and even if one's successful it's a long, difficult journey to prosperity. You don't make your own ours and get to do what you want, you've got listen to your employees, the government, distributors, etc. Is it worth it? Yes, for those who have the grit and skill to pull it off. It's just not an everyone thing.
Employe-paid health insurance is what keeps me from starting a business. Having a chronic illness with a medication that costs over $100,000/year retail keeps me in the 9 to 5. As much as I would like to work into my elderly years, I have to be realistic that it may not be an option. 401k is helping build my nest egg.
Respectable advice. I completely understand. The idea that one becomes their own boss to work less is flawed. The hustle is always required.
Time you must toss to be your own boss!
The health insurance situation sounds like a compelling reason to rely on an employer. One serious health event can have long term catastrophic financial consequences when insurance is inadequate.
But that’s why you carry catastrophic insurance. That’s what we had to rely on when our daughter went to ICU
@@DrTarrandProfessorFether catastrophic insurance is very expensive with very high deductibles- correct?
If you have to predicate your whole life on the availability of healthcare, it's probably worth it to look into moving to another country.
The health insurance issue is a cruel but US only problem.
Buy from the marketplace or privately if you make too much. You will likely qualify for a tax deduction when you’re self employed.
I run opposite of the trends. I was a sole proprietor when eveyone else were 9-5ers and now that everyone wants to work for themselves im a 9-5er. Taxes will eat you alive! Along with paying for your own health insurance
There are ways around that
You ALWAYS pay for health insurance no matter what
Being your own boss means needing to do the things your boss needs to do. People don’t get that trade off.
There is some truth in it, but not a lot. It's like the common notion circulating around the internet that "being a landlord is not passive income". Well, I'm a landlord and it is passive income if I've ever seen one.
@@cadcad-jm3pfthats different tho. Having the do the things the boss did like working extra hours, having to answer for alot of decisions, have to be able to manage people and emotions...make big decisions that impact the business snd employees. Oversl, being a leader which most entrepreneurs aren't...but think they are.
@@manoftomorrow5987 Only if you have employees. It is possible to be your own boss/work for yourself solo depending on what you’re doing.
@@cadcad-jm3pf : Real estate as passive income? Every landlord I know laughs when they're told that and then complains about how much work they do for ten minutes afterwards.
@@cadcad-jm3pf I disagree. Unless you are paying a property manager which I did not do when I used to be landlord, rentals are not that passive. You need to maintain the property, market it when vacated by the previous tenant, pay taxes/insurance/HOA fees on it, do the legal stuff, make sure squatters don't get in when empty, follow new building codes etc.
Seriously? I LOVED being self employed! I've been in the corporate life for almost 10 years now, and it is the WORST. I'm actively working to return to self employment now. Corporate jobs feel like prison to me.
A lot of people want to "be their own boss" for silly emotional reasons. They project their lack of discipline and inability to navigate the corporate world as everyone else's fault. Plus being an entrepreneur just means trading your manager for customers. The only people who are their own boss are people who don't have to work for money.
Facts.
I was going to say something similar. You're never "your own boss." All that changes is that your "boss" becomes your clients. You still have to answer to others and deal with politics.
I guess if you have alot of clients It reaches a point where they dont matter individually. You have to be massively sucessful tho
It's not about an inability to navigate the corporate world. Maybe for some, but it's annoying to deal with the bs politics and fakeness. It can really make you jaded towards life in general.
A lot of people actually believe the family bs in the beginning and then slowly they are disappointed when they set how easily they're discarded and tossed aside like trash. And none of that "family" even gives them so much as a goodbye glance.
On top of that, you were working hard for someone else's vision. Even years of your life gone by. Till you realize it was all smoke and mirrors.
Couldn't agree with you more! I tried being my own boss for a while and I must say just as Bryan said in this video: I found myself more worried about work, not less. I spent more time working and made less money. Trying to get a business off the ground is not as simple as other UA-camrs make it seem, after all they make their money telling us it's easy (cynical, I know 😂😂).
I'm not saying I'll never do it again or that no one should ever try it, I'm grateful I did. But as the video mentioned there are real benefits to being employed (you just have to find the right employer, which I have). And yes you can get laid off or fired from your job-the same happens when you're not making profit in your business. The key is to go into starting a business with your eyes wide open and for the right reasons, because you have something you want to share with the world.
And yes, I also agree that you will never truly be your own boss until you are retired. Just my 2 cents, of course.😉👍
No Pain, No Gain. High Risk, High Reward. And you sir, you are a winner and continue winning.
No solutions in life, just tradeoffs 😉
Unless you win the lotto, it's all a trade off.
@@ALifeAfterLayoff winning the lottery also has trade offs
@@ALifeAfterLayoff I guess you haven't heard of all the people who went broke or deleted themselves after winning?
Stealth wealth is the only way to happiness. But even then people still lack fulfillment.@@Kimyumoto16
Exactly!!!!
Having been self employed for 23 years, best thing we can recommend is going the s-corp route. I agree, the health insurance market is broken beyond repair. We've watched premiums go up exponentially. Expect to pay $24,000 a year for a so so plan for a family with kids or an older couple.
Great post!
Benefits are one of the biggest objections to entrepreneurship or contracting. As a long-time contractor, I've built my own benefits package that stays with me wherever I work.
Health Insurance: I use Medical Cost Sharing (Sedera) as an alternative. It's reasonably priced and stays with me.
Dental Insurance: I will use my dentist's discount program (an annual fee that keeps my dental costs manageable).
Retirement: Between my IRA and Roth IRA, I'm funding my retirement adequately.
Do I miss attending company holiday parties and picnics? No more than I miss performance reviews for 2% raises. 😄
As a former independent contractor and former self employed, if you hate your job, invest in yourself and invest in securities. Buy some index funds or something.
Long-time lurker here: I got laid off super recently and I've been thinking about this for quite a bit since. The world is my oyster, so to speak--but opening up that clam and not being afraid of it to clamp down on you later is probably the hardest part haha.
Still, thinking about my own business has never sounded more possible now than it has ever been.
ended up self employed through circumstances.
major expenses such as mortgage already paid off, so being self employed in your 50s isn't that bad. especially if your hobby is the business.
My biggest reason for not being my own boss is to not worry about owing an ass-ton in taxes because of self-employment tax and not having an employer to withhold taxes throughout the year. As an employee, you have regular pay periods and (shouldn’t) have to worry about tax withholding.
Discipline is certainly necessary to save a portion of all income so quarterly taxes can be paid.
@@sequana42 Correct. My best friend’s dad owns his own business, and I’m seen just how much he has to pay in taxes ever quarter, no thanks!
Excellent video, explaining the pro’s and con’s of working for yourself. Working for yourself - or at least having a side gig - is much more tempting now with the horrible job market.
Not everybody is cut out to be entrepreneurial. It's not bad, it's just the way people are. There are alternatives, including working for a consulting or contracutal company that handles all that pesky stuff such as gathering clients and health insurance; having a part-time gig if there's time; consultancy in addition to a "regular" job.
And for every success you have, there are going to be hundreds, even thousands of failures. THERE WILL BE FAILURES. How a person reacts to failure has a lot to say about how successful that person will be in self-employment.
In short, inflexible people who don't have the discipline Brian is telling you, including setting boundaries, aren't going to cut it in the self-employment world.
I never comment on UA-cam videos, but this one was refreshing. The "beast" is a real thing for entrepreneurs. People only see the public side of things. They don't understand what goes on in the background.
First!
I am astounded by how people work a second job while working their first job. Meanwhile, most first businesses where you work 16hr days to make it successful fail. The irony of a corporate career.
I will say this once you get 40 that working for someone else or once source income gets old. Especially if you have a family and priorities. So, I am starting my own business or side business because after 45 I cannot have one source of income.
One thing I had not anticipated being self employed is that once self employed this makes us pretty well unemployable back in the corporate world. If you have been successfully self employed ie sold the business, you will be considered uncoachable, no corporation values the independent thinker. They want that mindless drone. A man that can think on his own corporations considers the enemy. Your corporate colleagues will not consider you a team player because for years you as a small business owner you were the team. You do not need them. They are deadweight dragging you backwards. So basically they are correct you are not a team player because you are the team.
Similarly, no small business owner will hire a past government employee. Once you have that government job on your resume, you are unemployable by any small business.
I was an ex-gov and I was still hired by a 7 person small business
I actually got employed fairly quickly after leaving a government job for a small business 😅
That is just crazy and the reverse is true. I ran my own business and after I sold it I was snapped up by a consulting company..........precisely because i ran my own business. That was after a year and a half away from my regular job. I am 60 now and lost my job in September, I just landed a better job because of my past track record of managing people in part the running my own business.
I know a SW engineer who left his ~20 years gov job for a startup.
It’s clear he can do the job and he is an amiable person, so why not?
💯% true
The reality for people who are their "own" boss is that their own *clients/customers* are their actual boss! 😂
Side note: I appreciate the new editing of the intro volume, because I listen to you while driving and some of your older video's intro is significantly higher in both volume and bass, which is startling.
So while this video was minimally-edited, it is much appreciated!
That has not been my experience. You can think of it that way, and certainly you need to please them enough that they will continue to want to be your clients or customers. But you still have a lot more say in how and when you work, what you do with your time, how you run the business, etc. And when you’re successful, a problem client or customer doesn’t matter on an individual basis because you can do fine without them. If you become an expert in your field and have more work than you need, you can also turn down projects you’re not interested in or don’t have time for. This will all look different depending on what type of business you have and what field you’re in, of course.
Funny, I've fired plenty of customers over the years.
This was a great and realistic video. Maybe I am insane… Even with all the challenges you’re working through, I would still take it any day over a toxic work environment.
Thank you for being so candid and honest about what this work has looked like for you and even how it continues to be challenging with the several years you’ve been doing it! This is so insightful and makes me appreciate your content even more! Thanks to you I’m so much more confident in navigating my career and workplaces. I’ve literally taken notes on your videos and shared them with other folks who’ve found them helpful too!
I have a full time Software Engineer job but I do stuff on the side so got an LLC in case client sued me they couldn't touch my personal assets. After a decent job through my LLC I pay people that helped me via 1099... then the rest I pay to my wife (my administrative assistant) via 1099. I usually leave about 1K in my business bank account. If someone does eventually sue me they can have the money in the account and the LLC. I can create a new LLC in minutes. I learned this trick through an attorney I do work for. 😁
I'm glad you presented both sides of the coin. The answer is really difrerent for everyone
Yes, I am job lifer, tried the entrepreneurship at 18 and failed miserably. I went back to school and got my BA and MBA in HR. I am in a large medical academic institution, so the job tenure is a little more of a reality than other companies and more of my colleagues are tenured and have been in our institution for years. I am not a self-starter, and this is something that is needed for being your own boss. I am exploring some consulting or real estate work on the side, but that is about it. You need to really have a handle on things. I met some great people that would be great entrepreneurs but it's not for everyone.
Entering small business you need to know where supply is meeting demand. Disrupting a market is tough, if you are a contractor or tradesperson there is an abundance of work, but if you are knowledge worker it's quite tough to overcome and win work to support yourself and your dependants full time.
15:40 Except that there is no such thing as "a steady paycheck" in North America. You never not have to worry about whether you will get paid, because you can be let go any second without notice. In fact that makes you much more vulnerable that being self-employed or a business owner. As a business owner, it is highly unlikely that your income will go from X to zero instantly.
I would disagree with this - "As a business owner, it is highly unlikely that your income will go from X to zero instantly". Clients can go out of business or refuse to pay for something. You have to have a cash cushion as well even if you own your own business.
It depends on where and who you for. I'm in aviation maintenance and in my job layoffs come with advance warning and then they must start with the most junior employee. Once the company needs to hire again when things get better then all laid off staff must be offered their jobs back before external hiring is allowed.
@@alje311 Sure, it depends on your country and industry. A cushy government job in Canada is totally different form a private sector corporate job in the US. But this channel is mostly about the latter, so that's what I assumed. I don't think its realistic for most people to go into aviation, nursing and other highly specialized unionized fields.
5:13 Passion is such a pansy term in this context. Obsession is stronger and more accurate. You were hyper-focused until you built Life after Layoff to a point where it generated business for you. Kudos on the work you put in.
On health care: Become an S-Corp and get decent coverage. Still expensive, but can be decent. If you do a SEP retirement plan, your corporation can deduct it from your company earnings.
Being your own boss IS ALL it's cracked up to be. I LOVE running my own business. I get to run it EXACTLY how I want. I get to choose if/when I want to expand. I get to choose which projects I want to take on and see them through from inception to success.No silly meaningless job performance reviews. I get to choose which health care company I want to go with. I get to choose if I want to have employees/1099s/just me. Yes, I work a lot, but not all the little minute details suck. Everything I do is working for the best. No time is really wasted. Or if it is, it's on me to figure that out and cut it out. Also, after doing it while, I am not worrying about what is going to happen next month. There is no way I would ever consider working for someone else.
Hear, hear. I love it too.
I think you’re doing a pretty good job. I started following several channels at a time with content similar to yours, but the value I have found here I haven’t found in those others.
I would suggest hiring an editor. I have heard many people saying the same thing about editing, so I think having one could help you scale your business for you will have more time to focus on the content and other projects.
I have seen a lot of content creators hiring from Canada or Mexico because they don’t have to pay as much as in the US.
And I would create like a form for people to send messages that limits the characters to a certain number to stop receiving long personal stories. You can still help one or two by filtering them. Also, you could offer free coaching packages from time to time and that would be the only time when you accept stories from people to choose from.
I’m not a YTber not planning to be one, but I do like to automate as much as possible as I do have a fixed job and a small business and planning on starting another one.
Thank you!
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life
That's awesome!!! I know nothing about investment and I'm keen on getting started. What are the strategies?
I'll advise you to work with a financial advisor.....Building a good investment portfolio is more complex so I would recommend you seek Fergus Waylen's support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams..
Wow. I'm a bit perplexed seeing him been mentioned here also Didn't know he has been good to so many people too this is wonderful, i'm in my fifth trade with him and it has been super
YES!!! That's exactly his name (Fergus Waylen) so many people have recommended highly about him and am just starting with him from Brisbane Australia
I'm familiar with Waylen. I've learnt invaluable insights from him, who generously shares his knowledge and experience to help beginners navigate the complexities of the market
everyone's business philosophy is different..... some people prefer not to start a business until they have reliable passive income first from realty or their stock portfolio...... others are willing to start a business with zero money in the bank......others prefer to start part-time.....others prefer to start full-time cold turkey.....others prefer to outsource certain tasks.....others prefer to do it all themselves to try to save money....... so while being a boss isn't as amazing as you think, that idea is not true for every business owner.....because every business owner varies economically, philosophically, and in work ethics.
That is a fair warning. I started my company a few years ago and I still have not made enough revenue to not take a second job. Without seed funding, it takes a lot of time to get things going and it is tough.
This is so true. I’ve been ‘starting” a business for four years now and realize how much money and time it takes and is taking forever. I am still working a day job, though.
If you cannot make a plan and see it through (discipline - like Brian says), business ownership is not for you. If you cannot let go of some things (hire people and trust them to get it done), business ownership will burn you out.
Keep your full time gig. Do it as a side hustle. If it takes off, great! If not, you can still eat.
Thanks for telling the truth about this.
It take a while until your own company grows enough and cash flows well, where you as the owner can step away and just let the business runs itself.
God Bless you Brian! Being the BOSS means you're working even harder. Stay Stress Free and take it easy.
The 80 hour work week is the standard of being self employed. That is what your expectation for the first 5 years of being self-employed/business owner needs to be.
This really depends on what kind of business you’re starting.
Thank you for being so candid! I am an artist hoping one day to leave my day job to do full time art, but I know it will be very difficult. Maybe one day.
The worst part for me was selling projects while simultaneously doing them, basically being partner, manager, associate and analyst at the same time. I went back to a consultanting firm were they exploited me but gave me more money than I could bill to clients
The taxes and the health insurance are major deterrents for sure. As far as work-life balance, that's not a problem for me. My "business" is my life. It's how I spend my free time while I'm currently working a job. If I could do it every day and didn't have to be somewhere else, that would be a dream come true
(Of course I put business in quotes because I'm not making any money yet lol)
You saved the best for last! Loved hearing about the added benefits to your quality of life because you work for yourself. Thank you.
Nice honest and informed video.
The health insurance issue is a cruel but US only problem. It is actually the main reason why I would not take the risk to ‘go solo’.
The only thing makes me keep continue to work for corporate is health insurance. I only pay a small portion of health insurance premiums for family of 3. If I'm self employed, With the insance rates, I would have to pay 100% health insurance for us and it's more than 20k/year. Unless I can make lots of money as self employed
I agree with what you say in the video in part in regards you have to work to develop your own business pipeline (sales and marketing). But from the management perspective it was the easiest thing I ever did. Intuit Quickbooks can be setup to do everything automatically for the most part. Payroll I outsourced to Wells Fargo along with the 401k. Had no problem with management and hired 15 employees. Employee retention and interviewing was a major PITA. What you say is true with sales and marketing as well as putting in 80 hours a week sometimes. I thought new business would just walk in the door or word of mouth but nope...........you have to work for that and sometimes need to knock on doors, hand out flyers, etc. It is a very slow slog to develop and bring in new business as well as to see results from sales and marketing.
I honestly love your transparency about this topic because I think it’s incredibly important.
Thanks the video was helpful.
Running my own business was never in the cards for me from a very young age. I just did not have the biz acumen or focus much less education helpful to make it work, and I might take too personally any failures instead of objectively learning from those experiences. Now that I have retired from punching someone else's time clock I'm much freer mentally to be my own CEO and treat myself as a brand in the marketplace!
Good video, this makes me want to start my own business even more.
Great video!
Great content
I love Men at Work! I have been listening to Business as Usual since the 80s. So good.
Thanks really transparent 👍
Everything you say here is completely true. Been running my own marketing business for 8 years now. The hours are insane, but I would never go back. If you don't love doing it, don't even try it.
Yea I had lymphoma at age 31. This was prior to the Affordable Care Act. There is no way in hell that I would ever have been able to afford anything other than to be tied to an employer's health plan after that. We're talking like 4 or 5 grand per month in health insurance after that. I'm still alive 20 years later but just saying it like it is. Total entrepreneurship killer right there.
Imagine having a bunch of shitty clients that just want to try to inconvenience everything you do? That’s why I think it’s better to attract clientele based of service/product/I know any project I work on is tits. It eliminates any of these problems. And ultimately makes being an owner a much more pleasing experience.
It's disgusting how expensive healthcare is, we the people, need to bring this to our politicians attention.
I agree. But I was in the situation you were. I was sick of getting laid off. It was tough at the beginning l. I still work a p/t corp job. Im glad I made the switch to work for myself.
I know what you mean about the discipline I don't have it to work from home or to start a business. Too much stress for me to do either one. I just need/want a full or part time job. For me I think it has been age discrimination &/or possibly overqualified for positions that I know that i am qualified for. I would be happy if I could obtain a temp job which I have done previously.
I disagree that entrepreneur mindset is to worry about next month. They you will find Jesus you will stop worrying about the BS and understand that God is behind all things…but here is the thing it easy to fool yourself and think you walking with him. But you got the point
What?
I agree with this video.
I guess is better than deal with the random emotions of my boss lol
People will act like people, no matter where you go.
@@ALifeAfterLayoff That's true.
Oh, I know thist and prefer to be a mere employee. But what can I do if no one wants to hire me at my age so better go the self-employed route or the freelancer route.
I never believed the propaganda that being an entrepreneur or the owner of a business or working for yourself (aka self-employed) is oh so glorious. It is harder than being a mere employee.
Mine has more startup costs than I thought to really be involved.
Do you have a course of know of an excellent one for learning how to become an I.T. recruiter? ... much appreciated
You should do consulting from time to time to make big cache and go on vacation…consulting in big corporations
But if you make a lot, can’t you just invest so that you have enough dividends that you can live on?
I could not find any job in my country that would pay as well. Allows me 100% home office. Fully flexible work hours. Etc.
If I wanna go on vacation I just say I'm on vacation. That's it.
No achievement is easy that is why it is an achievement.
I like the highs that I get from self employment and I can put up with the crap cause I know there is no boss telling me what to do ( I hate that )… I think everyone should try this EARLY on in your career if you think you would like it … that way you can go back to corporate quicker if you don’t like self employment
I'm a contractor, there are pro's and cons, I would rather be Incorporated contractor than T4'd I got layed off, and I managed to save over $20k, which I will get written off, I managed to get other things written off, and whjilst layed off, my company (me) will pay for my phone, car and gas, all tax write-offs. You dont have weekends, you have to do taxes.
In addition to requiring a mountain of self-discipline, it also takes heaps upon heaps of willingness to be honest with yourself, too. Not to be a killjoy, but I'd be willing to say that the vast majority of people who think "I could do it better than [x, y, z]!" probably couldn't because they may have overlooked their deficiency in some necessary skill(s) they need to successfully launch a product or service.
Most of what you just described is the life of a sales person. It's Neverending!
You’re a hero one month and a bum the next.
Hey i know this isn't related to the cureent video but HR notified me they want me to sign something this week.
It's regarding an incident with me boss. We both filed against each other & based on what I've seen the company is gonna re-write history and take his side.
Should i outright refuse to sign?
Would love answers/advice from anyone
Ask an attorney. Dont be cheap.
@@ninjabastard I'm willing pay - but where can I find legal advice on short notice when I'm working?
Don't sign, resign. It's a set up.
@@BrianHeidik search for lawyers that specialize in employment law. might be some on the state bar.
Yeah... this is why I'm gonna look for a career in something I am good at, and extract the rent from it
What takes 12 hours a day in your business? I tried an Amazon business After I learned how it was sit back and wait for things to sell.
Yes, it is amazing being ones own boss. If it is not amazing for you too then that means you are better suited to be a mindless corporate drone. No one solution can fit everyone.
I wish people would understand this fact better
Brian you're live right now
If I were my own boss I would be harder on myself, and pay myself far less, than most bosses would. The deal breaker, aside from the lack of steady paycheck is the difficulties in getting health insurance.
Definitely challenging and may and may not be rewarding 😂😂😂
I think passion is an overrated motivator. Just having structure in your day and good habits is more important for a long term grind. I also thought I was not a morning person, but after developing habit of getting up at 5am everyday whether I have to or not has been life changing.
Thanks for the insight into "being your own boss", when you love what you do its not work.
I feel it needs a certain type of personality to be your own boss. It’s not that you want it bad enough at all. It’s that you have to because you just can’t survive in corporate America. Obviously this is not for you but lots of entrepreneurs actually like it.
The delusion of “being your own boss.” Small business, you are responsible and on call 24/7. Have fun! A decent corporate gig is a much better work life/balance 98 percent of the time.
Want to be your own boss and set your own hours? Go drive Uber and report back asap!
drive for Uber, and destroy your car. Uber and Lyft do not pay that much.
If you want to start a better business... do a service and charge a membership fee.
That may be true in certain industries. Depending on what you’re doing and what type of business you’re setting up, there may be no need to be on call. As a self-employed person myself, I am never on call after hours. My clients work regular business hours, and I sometimes do that and sometimes work in the evening if I have other things going on during the day. If I want to take on extra work, then I may work some weekends, but that is entirely my choice. And I’ll be paid for it, unlike at any corporate job I’ve ever had. One of my clients sometimes asks if I can make a quick turnaround, and if I choose to take that on, I charge a premium to drop everything for them.
I do not have employees, nor do I wish to. I don’t want to be a boss nor have one, so this setup works well for me, and I assure you it’s no delusion.
Although intriguing, I have never really had the urge to actually “be my own boss”.
IDK if I'm my own boss, at least I can control how incompetent the guy I report to is
This guy wants you to be a drone forever
Elon Musk - "Starting a company is like chewing glass and staring into the abyss of death."
It's all roses til tax time comes.
If you’ve paid appropriate quarterly taxes, there are no surprises at tax time.
There is no going back to the corporate world. You are CEO of your own career. Even if you work in cubicle, develop your own personal brand! I think when going own way, accounting is hard. In the office that's one of the costs you don't have to bear as your employer is hiring accountants.
You only need to look at farm owners. Work continually 7 days a week , with no holidays . Even in the winter, they are fixing fences, gates. Constant anxiety . Loneliness.
This clicked with me when I took microeconomics and marketing classes. I really did not see the budget before these 2 classes more than any of my other corporate business classes.