7 Reasons Why You Should Work For Yourself (And Not For Your Boss)6 Comments February 11, 2011 / Posted in Personal Development
Rich Dad Poor Dad is one of the best books that I had read. It changes how I think about personal finance and makes me want to work for myself instead for others.
I went on to search for my riches in investing and dabbled in stocks until I ended up with paper assets instead of cash. I can’t continue to invest when I do not have any cash and this is the reason why I went into creating internet businesses.
Currently, I run HMS and I create niche sites using the methods taught in Affiloblueprint by Mark Ling. I’m making an income online around the 3 figures range and it is definitely not enough for me to like a king. However, one thing is while I am running my blog and creating niche sites, I am working for myself and not for others.
If I want to, I can go and get a job that pays better in the market. However, I choose not to because I think I am somewhat addicted to working for myself. It makes life much more fun as compared to renting your life to others. I don’t think anything bad will happen if I choose to work for myself. Maybe I will end up broke trying but anything that doesn’t make you die makes you stronger.
I know there are others who love the fix income and be told what to do, but I think it is not for me. So I don’t recommend everyone to work for themselves (even though I would love to), because I know not everyone is keen on the idea of working without a guaranteed income. For those who think of making the switch to working for yourself, here are 7 reasons why you should take the leap of faith.
7 Reasons Why You Should Work For Yourself (And Not For Your Boss)
1. You Get To Work On Something You Are Passionate About
I think passion is underrated. It is hard to succeed at something when you do not have any passion in it. The process to excellence includes working hard and immersing yourself in the subject. A lack of passion in anything will cause you to procrastinate, feel lazy and simply stop taking massive action to move on forward.
Most of you went through Monday Blues. Will you still feel the Monday Blues if you are not working on Monday and you are going to do your favorite activity on that day (Taking your dance classes that you are passionate about, watching a movie etc)?
When you do not have the fire in you to do something, it is hard to succeed in that area. Willpower can only push you so far. You need the fire in you to help you complete the marathon. Warren Buffett became the richest man in the world by only investing and investing is his passion.
Here is something that he had mentioned:
“I get to do what I like to do every single day of the year,” says Buffett. “I tap dance to work, and when I get there, I think I’m supposed to lie on my back and paint the ceiling. It’s tremendous fun.”
2. You Get To Be The Master Of Your Own Time
I hate waking up to the alarm clock and drag myself to work. To top it off, the train is always crowded at peak hours. I believe there are people who work best at different time of the day. Tim Ferriss, the author of The 4 Hour Work Week and The 4 Hour Body, mentioned that he wrote his books at wee hours.
By working for yourself, you dictate what time you start work and end work. It makes life flexible and you can shift your work hours to accommodate activities that interest you. Have you ever heard people say that their work schedule doesn’t allow them to do something that they always wanted? Working for yourself gives you this flexibility.
3. Save Time By Not Commuting
We spend around an average of 2 hours per day in commuting. If you travel to work for 5 times a day, 2 hours per day, in a month you spent a total of 40 hours. If you are not listening to any audio books, podcast or reading any books, you would have wasted 40 hours per month.
If you have an internet business, you can choose to work from home. I see an increase in number of people who work from home and instead of wasting 40 hours per month, they use these hours to work on their business or pursue their passion.
4. Working For Others Will Not Give You A Guaranteed Income
It is true that you do not have a guaranteed income if you work for others. Think about what happened in the 2008 – 2009 financial crisis and the mass retrenchment. Fixed income doesn’t mean guaranteed income.
I have to be fair on this one. I know there are many people who saw their businesses slow down during that period. However, people who are at the top of the “food chain” survive the longest. This means that the bosses always get to survive the longest and workers who work for paychecks always face the wrath first.
Robert Kiyosaki of Rich Dad Poor Dad says that people who are financial savvy always have multiple streams of income. Even if you have your own business, you need to keep on trying out new methods to earn passive income. When you have multiple streams of income, you do not need to worry what will happen if one source of income is cut off.
5. You Learn A Lot More Things When You Work For Yourself
I don’t believe working for someone else allow us to learn as much as working for ourselves. From what I see, most people only learn how to perform their job well. I can’t see it as valuable as what you will be learning when you work for yourself.
Running a business requires you to learn about marketing, networking, and value creating and most important of all, how not to trade time for money. It may sound like a lot to learn, but these are valuable skills that will help you survive wherever you go. Not to mention trading time for money is risky. How many hours can you work in a day when you only have 24 hours per day?
6. Not Being Valued Fairly By Your Boss
How much are you worth an hour? The company decides the value and it pays according to the market or maybe even lower. There is also a conflict of interest between companies and employees since companies want to keep revenue high and cost low, while employees want to have a higher pay and work less.
If the companies want to keep overhead low, how can they value you fairly? Working for yourself eliminates this problem because your audience will dictate your value. If your products are valuable and it helps them to solve their problem, they will give you the money. If you don’t provide enough value, they don’t pay for it.
This is why some ebook costs up to $97 dollars and people still pay for it. It does not cost much to produce an ebook, however if an ebook contains valuable information that can help others to improve areas of their life or solve a problem, people are willing to swipe their credit card for it.
I am currently working on a new ebook. It’s been awhile since I launch my last ebook, Unleash Your Maximum Potential, and I think it is time for me to write a new one. I will fill you up with details in my next post.
7. You Will Be Happier And Live A Life Of Higher Quality
You are going to be much happier when you have more time to do what you want to do. Your passion towards your work will contribute to the quality of your work which may likely lead to a higher income. People around you will start to benefit from the value that you provide.
To start creating your own business, you need to take the first step. It is not necessary to quit your job right away, and you can work part time on your business after working hours. Change may be hard but sometimes, not changing is harder in the long run.
I would like to know what are the common reasons that hold people back from working for themselves. Share with us your opinion in the comment section and I will talk to you over there.
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