Working for Yourself VS Working for Someone Else

by Keya Murthy

You might wonder why anyone would seek to work for someone else when you could work for yourself, right? I mean, being your own boss sounds much better than having someone else for a boss.Like two sides to every coin, there are two sides to this too. First I shall tell you what working for someone else is like and then go on with what the demands of working for yourself are. Someone else is denoted with [O] meaning others, and [S] meaning self.

#1. [O] In order to work for someone else, you need to be qualified for the job – in terms of degrees, certifications and experience. Even when a recruiter comes to a campus for recruiting new graduates, those with work experience stand a better chance than those without it.[S] For starting a business of your own, you are your own recruiter. Let’s say you went out to hire employees: would you hire yourself? Do your experience and qualifications match the job requirements and the demands of running the business?

#2. [O] When you work for someone else, you do only the job for which you were hired.[S] When you work for yourself, you wear many hats, e.g. boss, janitor, secretary, accountant, marketing head, salesperson and so much more.

#3. [O] When you work for someone else, you need no investment.[S] When you work for yourself, you need a lot of investment – in terms of time and finances.

#4.[O] When you work for someone else, you work for usually 40 hours a week.[S] When you work for yourself, you work usually 80 hours a week.

#5 [O] When you work for someone else, you get paid in the second pay period.[S] When you work for yourself, you begin to see profits in 3-5 years.

#6. [O] When you work for someone else, you do not have a say in most cases.[S] When you work for yourself, you have a say in almost everything except the IRS and the legal department of the city, county and state in which you do business.

#7. [O] When you work for someone else, you get paid after your taxes are deducted.[S] When you work for yourself, you get paid first and then you pay your taxes.

#8. [O] When you work for someone else, you do not have keep records of your expenses.[S] When you work for yourself, you have to track every single penny you spend and every place you visit, so you can claim your expenses for your taxes.

#9. [O] When you work for someone else, you cannot deduct any expense for pre-tax dollars.[S] When you work for yourself, most expenses are tax deductible when you keep perfect records of everything and every event that helps you work your business better. Even part of your mortgage, rent, car payments, utilities, etc. are tax deductible.

#10 [O] When you work for someone else, you rarely get 100% credit for your achievements, but you run the risk of 100% blame for anything going wrong at work.[S] When you work for yourself, you get to take 100% credit for all your achievements. When you encounter challenges you get to learn and improvise and get better.

#11 [O] When you work for someone else, the more you succeed at work, the more responsibilities are dumped on you.[S] When you work for your self, the more you succeed at work, the more free time you have to do things you love the most.

Sharmila "Keya" Murthy M.S., C.Ht., NLP Trainer Murthy Center for Life Path Guidance Consulting for Individuals, Groups, Small to Mid size businessCoaching and Mentoring for Individuals and Groups805.275.2289 lifepathguidance@yahoo.com
http://www.lifepathguides.com/