Last week we discussed the Positives Of Being Your Own Boss. There are many positives, however not everyone is the same and being your own boss is not for everyone. Some people just don’t like it, and some people just aren’t cut out for it.
Most people say that they would love to be their own boss, but most don’t actually know what it’s like until they do it. Today, we will be talking about the negatives of being your own boss. I am my own boss and I love every single minute of it, but not everyone feels the same.
Gen Y Finances: 2017 could be most successful year in your life!
You may have a bad month or a bad year.
If you are your own boss, then you should always make sure that you have an adequate amount of money saved. Having an extra stash of money can really help if you were to have a bad month or a bad year.
Bad months and bad years do happen, so it’s usually best to not think that you are completely invincible from it happening.
Everything is up to you.
If you are your own boss, then everything is up to you. This can be very stressful to think about and you may lose a lot of sleep over it. You don’t want your business to fail, so you may feel like you need to work 24/7, as discussed below.
You may have to work all the time.
I am my own boss, and I find it very hard to take a vacation. I just cannot do it! I have so much work to do, and there really isn’t anyone that I feel like I can trust to takeover. I also don’t like to completely separate myself from my emails because there is always so much going on with that.
This is different because if you work for someone else, then usually you can just go home at night and not work. You can also probably take a vacation and not worry about your emails the whole time.
There’s a lot of paperwork.
If you have your own business, then you have to know that there is a lot of back-end work that needs to be done. You will have to deal with taxes (oh boy, are those a joy!), accountants, lawyers, business structures, fire codes, law, and more. The list is neverending!
Are you your own boss? Do you enjoy it?
Picture via Flickr by ykmworkshop