Being your own boss is very rewarding. Of course the challenge in it stems from the fact that when you are your own boss, you hold the reigns of your life. You hold the key to every dream you have. You have your goals in your hand, and whether or not you get to achieve those goals is completely up to you, and you alone.
Being my own boss has always appealed to me, but it was talk like this that always made me second-guess myself when it came to if I could really do it. And yet surprisingly, the truth is a that a lot of people think working for someone else is harder than being your own boss.
No, that’s not true at all. Working for someone else is easier because you are sure of your pay as long as you follow the rules that have been laid out for you.
If you come into work on time, you do all your tasks before their deadlines are up, you have no problem taking instructions and cooperating with the authority, then you are sure to get paid at the end of the month.
If you get sick sometime during the month and have to stay home, you are still sure to get paid as long as your bosses know your sick leave is legitimate.
All you do when you work for someone else is show up at work, do your job to the best of your ability and get paid. You are sure to get paid whether or not the business makes profit.
But being your own boss is different in that in addition to showing up at work, you don’t get paid if the business doesn’t make profit. In fact, you stand to lose a lot if the business fails.
If you get sick sometime during the month and have to stay home, then the business stays sick and home with you, as long as you work alone. That means you are temporarily not making money for as long as you are not working.
Now, this full-time requirement of being your own boss is one of the things that scare some people away from being their own bosses. I know it used to scare me too.
I became my own boss accidentally. When I left my job in 2014, my intention was to go back to school. When that failed I found myself sitting at home with no money. I spent 2 years looking for another job and trying to go back to my previous one to no avail.
I finally managed to start my own business and become my own boss. I am my own boss right now.
Like I said above, being your own boss is not easy. You have to be determined to make things work. You have to exercise the kind of discipline that will get you working tirelessly on your goals, the kind of discipline many people are not patient enough to learn and master.
Here’s the truth about being your own boss that I didn’t get to know until I became my own boss.
- Being your own boss teaches you patience
If you are serious about being your own boss, and you work hard at it, you learn to become patient. That’s because things might not come as quickly as you’d hoped and because you know quitting is not an option, you learn to wait patiently for things to come to pass.
- Being your own boss is rewarding but not glamorous
Just because it’s rewarding doesn’t make it glamorous. Imagine being sick and being afraid to stay away from work because you know if you stay away from work you won’t be able to make money.
Usually at the beginning of your journey of being your own boss, you are working alone. That means you are in charge of everything from finances to marketing.
That’s a lot of work that leaves you wiped out at the end of the day and frustrated at most times before things begin to pick up. And they might take a long time to pick up.
- Being your own boss makes you more aware of the passing time
I never realized how fast the days and the years go by until I became my own boss and decided to make it count.
While everyone else is looking forward to the end of the year so they can enjoy the festive season and get ready for the new year, I literally want to stop the hands of time just so I can have more to do before I take stock of my life at the end of the year.
I feel like I have so much to do and very little time. Now I have a new schedule in which I focus on my relationship with God from 8am to 12noon, then work on my blog from 12noon to 6pm and then work on my ebook from that time until I retire to bed at 09:25pm.
Now all of a sudden it feels like the day has been reduced from 24 hours to maybe 8. Right now its 05:27pm. I’ve been sitting here since 07:45am and yet I feel like I just sat down to work. That’s how quickly time passes when you are your own boss.
- Being your own boss means the rewards can be slow to come
You might be cash strapped for a very long time, and for many people that’s just unbearable. When money comes into the business, you think about paying everyone else first before you pay yourself and sometimes after you finish paying everyone else, there’s nothing left for you to pay yourself.
Now we know you are supposed to pay yourself first if you dream of having any savings or investing. But if there’s not enough money left in your business account after you pay yourself, then you’ll definitely find yourself in trouble with your suppliers and everyone else carrying your business. And that’s not something you want to happen.
- Being your own boss makes you less self-focused
You know you need to put a lot of emphasis on your personal development, your exercise, food and diet, healthy relationships and spirituality if you want to enjoy a simple healthy lifestyle.
But being your own boss can take the focus away from these important things. If you find yourself swamped with work and a lot of responsibilities, taking care of yourself can feel like the last priority.
It’s not uncommon to find a self-employed person who’s in poor health. That’s because when you are your own boss and you don’t make a conscious effort to enjoy a simple healthy lifestyle, you can get lost in the melee of your work and suffer for it.
Being your own boss definitely rearranges your priorities
There was a time when I used to care a lot about my fashion sense. When I was working the 9-5, I made it a point to always look polished. With my salary I bought new clothes, makeup, hair extensions and all that.
If you see me now, you’ll hardly believe I’m the same person. The last time I bought hair extensions was 4 years ago. I go for weeks without putting on makeup and I haven’t bought a new piece of clothing in 4 years with the exception of winter socks I bought in April 2017.
In an effort to save money, I’ve stopped going to the salon and I do my own hair. The hairstyle I have now is pathetic because I’m still learning to do my own hair. But I’m determined to make this work so I’ll keep this shabby appearance until I know my business is on track.
Right now my priority is on the business, keeping it afloat and getting it to return some money to me. That’s what I care about.
Being your own boss makes you impervious to people’s judgements
Unless you are a people pleaser and not very sure about being your own boss. Because if you really want to be your own boss, then you don’t care what other people say about you, whether to you or behind your back.
I used to care about people’s opinions of me. I’d get depressed if someone said anything remotely negative about me, to me or to someone else. I’d be more concerned about making people like me than I was about actually being myself.
Now, I couldn’t care less what people think of me. I’m saying that because I love people and I always try to be friendly and helpful to everyone. So whoever doesn’t like me, that’s none of my business.
Being your own boss will make you grow a thick skin when it comes to dealing with people, and pretty much everything else.
The final word
Being your own boss is the best thing you can do for yourself. There’s absolutely nothing wrong with working for someone else. After all, the world wouldn’t work if we were all our own bosses.
But if you are thinking of being your own boss and you wonder if it’s worth it, the answer is, YES, it’s totally worth it. Go for it, keep at it, never look back and you’ll reap the rewards of your choice.
Being your own boss is not as hard as you think. Find something you love doing and turn it into a business. We all have talents. What’s yours? Use your talent to benefit those around you and love every minute of doing it. I talk about 10 important steps to discover and develop your talent.
If you want to assess the progress you are making in being your own boss, then read this post on 12 signs you are making progress in your life.
Thank you for reading this post. I feel like I’m in a better position to have something to say about this topic after having a taste of working for someone else and then being my own boss.
What about you? Are you your own boss? Or maybe you aren’t but you are thinking of being your own boss? Please share your story with us by commenting. Thank you.
The following will definitely interest you:
So you want to be your own boss by entrepreneur.com
5 essentials for succeeding when you become your own boss by entrepreneur.com
5 steps to becoming your own boss by wework.com