Since the pandemic has surface, many people has became unemployed either by quitting their job or by the business closing, which have left many people to think about opening their own business. But there is a BIG difference between working for someone vs working for yourself.
When you working for someone, you have set days and times that you must work, right? Some employment give you an option of medical, dental and life insurance for not only yourself but for your family such as; spouse, child(ren) but do you have time to what you really want to do? Can you take off when you want to for a personal day or even just a doctor's appointment? Let's not talk about the option of a retirement plan such 401K. The perks of working for someone can be beneficial. You know when you have to work and what your paycheck will be without any questions, unless you have some type of legal actions that is financial affecting you.
Being a entrepreneur is a whole nother ball game. Being a business owner is a 24/7 job, there are no breaks or scheduled times off. Every time something go wrong you have to handle it yourself. Even if you got staff, you still have to over see what they are doing. As far as benefits, you can go get insurance yourself but it cost you monthly like any other person that work for someone but you have to handle that paperwork yourself unless you hire someone to do so. Depending on what type of services you provide, you may be required to have insurance for any customer claims. On the other hand, you are able to take off whenever you want especially when you have child(ren). You then have time for practices, games, after school activities or even vacations, however you still have to attend to the business.
Some people go into entrepreneurship blindly. Yes there are many perks to being an entrepreneur as it is to work for someone however the responsibility is more grand and more stressful. But the customer more is more key. Because your business is mostly based on hearsay recommendations. Where as a corporation (business) have a marketing team that handles that. But being an entrepreneur you can do whatever you want to do, sort of. Where as an established business/corporation already have in place protocols and rules that they business must obey by because of the law and practices however they have lawyers i place to help defend themselves against any lawsuits and/or claims.
Doing both is very beneficial in their own ways. I think that all depends on you and what you want to do. If you going to be an entrepreneur, do your research. Find out the ends and outs of what is needed to be successful. Try to find a mentor in the line of business such as yourself. Many entrepreneurs not successful because of bad customer service and practices, they in it for the money and not the love of their craft. Sort like working for someone, you have to keep up a certain image that is seen in a positive light for the company that you represent and that's the same with your own business. If you need a business consultant for entrepreneurs please contact Queen Butterflies LLC at 248-200-6355, we can help.