Benefits of Working For Yourself
If you’re anything like me, you can’t imagine ANYTHING worse than being employed by a large corporation for the rest of your life. Glad we’re on the same wave length. To me, the idea working for someone else in a job you don’t love is a sure fire way to waste your life. WHY build someone else’s dream and get a lousy retirement at the end of it?
Working for yourself is limitless. You can build vast wealth, travel whenever you want, and most importantly make an impact on the world. You can actually contribute something great rather than being just a number.
Here are some everyday benefits of being self-employed that may just entice to you take that leap of faith if you haven’t already. And if you’re building a side hustle whilst working a job to support it, then here’s what you have to look forward to:
- Total focus: When you own a business, you decide what work needs to be done and when. This is your baby, it’s something you are so passionate about that you are willing to put in 100% effort to make something of it. In the peace and tranquillity of your own office, there are no distractions to reduce your intense focus on making progress every single day.
- No corporate bullshit: This is my favorite. There’s no competition with colleagues as to who can suck up to the boss the most, you’ve got no specified uniform and no hierarchical snobbery to put you down. You are your own boss so you decide the agenda. Build an environment of optimism and focus, where your team only spur each other on to work harder and smarter to make your vision a reality. You want a team that will do great things, not a team that are subdued by corporate rules and politics.
- Your income is only limited by how much effort you put in: Being employed means your only resource for growth is promotions, and it takes years to work up through the ranks in a corporation. If you own a business, then the success of that business in overall growth and profit is determined by how hard you and your team are willing to work. And you decide that. If you’ve got a vision that you and your team are passionate about, then you will soar.
- YOU choose your team: No annoying work colleagues that you only hang around with because you have to. You can pick and choose people that you will work well with and that share your vision and are good at what they do. Working for someone else means you have no control over this and employee friction is a big hindrance when it comes to scaling up.
- No fixed vacation time: You can take a vacation literally whenever you want, and if you run an online business, you can work from anywhere in the world. This is a huge dream of mine. The idea of building a business anywhere and anytime frees your life up completely. Thanks to Tim Ferriss for introducing me to the whole ‘new rich’ ideology which I am currently working towards. Read his book The Four Hour Work Week if you want to learn more about the ‘laptop lifestyle’.
- Risk taking: In a 9-5, your ability to explore new ideas and take risks is limited by what your boss tells you to do. If your work is decided by your boss then you have no actual part in growing the business, you are basically just a machine doing what you are told to do. Being an entrepreneur is all about risk taking. Taking risks can pay off hugely if they are calculated, and if you fail then you’ve still learnt something in the process.
- Confidence: Which leads me to my next point. Taking risks and succeeding/failing will only build your confidence if you learn from it. The realization that you have the ability to build a successful business is the biggest confidence boost you can get. Working for a company usually makes people fear failure. They want to please the company so fear trying out new methods as they may get fired or demoted. No one ever built confidence out of fear.
- You design your own working space: At an office you just work with what you’re given. I’m sorry but working in a cubicle is the most uninspiring environment I can think of. Working for yourself means you can design the perfect office for focusing and staying motivated. You can even go work in Starbucks if you want. When and where you work is entirely up to you.
- Creativity: Building your own business means you can spend time brainstorming new ideas with your team. Being innovative is a requirement to standing out and rise above the competition, and it’s fun! Doing the same tasks day in and day out is only going to frazzle your brain. You need to be stimulated if you want to grow.
- You can plan your life much easier: With a fixed work schedule your personal life fits in around your work. You can’t take your kids to school if you start work at 7am. You can’t see your friends if you work Saturdays. If you work for yourself, you can work when you know you’ll be most focused. If you want to start work at 4am, you can! You can plan things when most people would usually be at work: if you want to see your grandma for lunch, you can! Obviously, make sure you stay focused on what you’re doing and put in the hours, but if something crops up you can plan ahead and make sure you’ve got your work done before you tend to your personal life.
I could go on forever with the benefits of working for yourself. The general idea here is that being an entrepreneur carries a sense of freedom that working for someone else will never allow. And working for yourself means you can do what you LOVE, not what someone else loves. Take the leap of faith and follow what YOU want to do.