In today’s economy, becoming your own boss is more accessible than ever before – with a wealth of educational opportunities, start-up support companies, and revolutionary technology to aid your venture, the prospect of starting a company has transformed from a terrifying pipedream to a very attractive – and plausible – route to success.
Of course, as with anything, there are pros and cons of being your own boss. The extent to which one side outweighs the other is really an idiosyncratic distinction for you to figure out the hard way, but we’ve given you a head start by outlining some of the major advantages of becoming your own boss below.
Freedom from management
Humans are stubborn, independent creatures; it is no wonder, then, that we are so often against being at the bottom of the chain of command. Managers – especially bad ones – can be pretty intimidating with the hierarchical power instilled in their role. Not only do managers have the power to tell us what to do though: an interesting survey by ExpressVPN revealed the extent to which bosses pervasively implement surveillance over their employers.
Ever feel like you’re being watched at work?
Well, an astounding 78% of employers sampled use monitoring software to track their employees, despite admitting ethical issues with the process.
There is a quick fix to this one, luckily: be your own boss!
Flexible working schedule
If we were to conduct a word association task and gain people’s responses to the phrase ‘9-5’, the percentage of answers indicating positive feelings toward the prospect would probably be minimal. The 8-hour working day is a long one that many find exhausting, especially when these hours cannot be shuffled flexibly.
We have Henry Ford to thank for that – the Ford founder created the 8-hour day for some of his employees back in 1926. His stature as an entrepreneur stimulated a national shift toward the regime.
As your own boss, there’s no one above you to slate you for arriving at 09:02 AM, nor anyone to tell you your holiday request has been denied. Beware, though: many entrepreneurs have fallen into the trap of thinking a flexible working schedule equates to a lesser working schedule…
Just ask Elon Musk if that’s true!
Have you ever proposed a great idea to your bosses and had it rejected? Whilst a great learning curve, the experience is pretty disheartening and often frustrating.
As an entrepreneur, decisions are left to your ultimate selection. As Aunt May famously quotes in Spiderman, though: ‘With great power comes great responsibility.’
This motto is as true for an entrepreneur as it is for Spiderman. While a good decision leaves you ecstatic, the consequences of a bad decision can also come crashing down on you.
Not being told ‘no’ is an employee’s dream, though.
To conclude, then, entrepreneurship is no easy feat – the road is long and winding. However, there are surplus, inevitable advantages of being your own boss, and that’s why the thousands of founders in the UK love the career path they chose.