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Pros and Cons of Being Self Employed

Anyone with a boss has likely dreamed of a day when they would someday have no one to report to or have to punch a clock.Working for yourself may seem ideal but it is not without its own responsibilities. Try to look beyond the possibility of having no interoffice politics and think about what you can expect when you are your own boss.Here’s an idea of some of the pros and cons of branching out on your own.Pro: There’s no one breathing down your neck. Micromanaging bosses are the worst. If you have one, you have our sympathies. It can make you hate your job, even if it’s something that you normally would enjoy.Con: There’s no one holding you accountable. This might be the hardest part of running your own business. You have to be completely self-motivated, since everything is riding on what you produce. There’s no one to tell you when or how to do a project. You have to be able to trust your own instincts and experience.Pro: Get paid for what you’re worth. You determine what your salary will be by the quality of your work and how much work you solicit. All the profits go to you since you work for yourself. You can make more money by taking on more work.Con: The pay is not guaranteed. This is a tough one for people to adjust to, when going from working for someone to working for yourself. It’s a huge gamble and it might not pay off. You could go from having expendable income to putting all you have into your business for years before turning a profit.On the positive side, if you come up with a solid business plan and work hard it may work out for you. New businesses start up every day and many of them succeed, there’s no reason why yours can’t be one of them.

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