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re: What’s better. Working for an employer or having your own business?
Posted on 3/5/22 at 10:24 pm to tigersfan1989
Posted on 3/5/22 at 10:24 pm to tigersfan1989
When you work for yourself, you work for a lunatic.
Run!!!
Run!!!
0
Posted on 3/5/22 at 10:29 pm to DCtiger1
That’s the mentality most take. Would rather work for someone else for “security and comfort” than take a risk and have the opportunity to change their life. Pretty sad
Many people like myself are not interested in business, our talents are elsewhere, and money is not a motivator. I have taken lessor paying positions for opportunities that were available nowhere else, but most of the things involved in running a business I probably wouldn’t do for any amount of money.
Many people like myself are not interested in business, our talents are elsewhere, and money is not a motivator. I have taken lessor paying positions for opportunities that were available nowhere else, but most of the things involved in running a business I probably wouldn’t do for any amount of money.
Posted on 3/5/22 at 10:59 pm to tigersfan1989
It’s like renting a house vs owning a house. More comparable than you think.
Posted on 3/5/22 at 11:06 pm to tigersfan1989
A huge part of me wants to go back to the simple life of punching a time clock. The stress has taken alot out of me over the last 3 years. It’s a catch-22 as I always felt trapped when I was working in an office and I much prefer the freedom I have to bounce around and make my day instead of being stagnant, but this life is the defintion of “it’s always something.” Employees are the most stressful part but inventory maintenance is a daily challenge with the climate of this country right now. I’m pretty tired.
Posted on 3/6/22 at 6:36 am to tigersfan1989
So much info provided by the OP.
Posted on 3/6/22 at 8:12 am to DCtiger1
quote:
thought you sold life insurance? You work for someone else selling life?
Yes I did and yes I still do. Back in April I was wrapping up my fourth straight month of declining income and enormous cost increases in my leads and marketing. On top of that I had commission chargebacks that amounted to roughly a quarter of my total income. I was in a terrible situation and desperate. Reached out to an employer I had done business with years ago and they agreed to interview me. Four interviews later I was accepting their offer. I hated admitting defeat and not being my own boss now but it’s the best decision I’ve ever made. I make three times more than I’ve ever made before and it has honestly changed my and my family’s life. Glad I made the jump.
This post was edited on 3/6/22 at 8:14 am
Posted on 3/6/22 at 8:29 am to tigersfan1989
If your actually profitable as a business owner, its enjoyable. If your not, it can be an immense struggle, especially when you gotta fund your own self employed health insurance.
Believe it or not clocking out and walking away everyday is a perk and if you are good at what you do. Knowing you can always work somewhere else and their is a demand for your services with great pay and benefits is one of the best positions to be in.
Believe it or not clocking out and walking away everyday is a perk and if you are good at what you do. Knowing you can always work somewhere else and their is a demand for your services with great pay and benefits is one of the best positions to be in.
This post was edited on 3/6/22 at 8:44 am
Posted on 3/6/22 at 8:49 am to jscrims
quote:
Some days I wish I had the lack of stress like my employees do. They don’t think twice about work once they leave.
As an hourly employee it frustrates the hell out me how my fellow employees never put themselves in the bosses shoes.
The owner could be stuck doing business things from 5AM-10PM every weekday, including Friday and Sunday night. Then add the pressure of dealing with his customers keep them happy and kissing the asses of ungrateful employees to try to retain them. The absolute least we owe him a good days work, but far too many act like they're owed something.
Yes, he has more financially but at what cost? Getting abused from above and below? No thanks.
Posted on 3/6/22 at 9:01 am to ItSawGood
quote:ehh
It’s like renting a house vs owning a house. More comparable than you think.
Most businesses fail and plenty barely make a profit. Not really the case with owning a house
Posted on 3/6/22 at 9:13 am to jimbeam
quote:“Gotta Serve Somebody” 1979 YouTube Link
Everyone works for someone
Rick Roll Yourself Link (while we’re at it)
Posted on 3/6/22 at 12:30 pm to GreatLakesTiger24
Was more making the comparison on responsibility
Posted on 3/6/22 at 1:28 pm to tigersfan1989
Did both
Now I sold my business.
Retired.
Then I went back in the repair business with a few friends as an employee.
Easier to be the employee less stress.
Now I sold my business.
Retired.
Then I went back in the repair business with a few friends as an employee.
Easier to be the employee less stress.
Posted on 9/26/22 at 6:59 am to jimbeam
quote:
Everyone works for someone
Owning your own business removes one layer of "management" you answer to.
Posted on 9/26/22 at 7:02 am to udtiger
I could see both sides.
Now that im older with kids I feel more stable working for my company. They match 7% 401k, I have a pension and full benefits.
I feel like if i were single or no kids I would have taken more of a risk and started a business.
Now that im older with kids I feel more stable working for my company. They match 7% 401k, I have a pension and full benefits.
I feel like if i were single or no kids I would have taken more of a risk and started a business.
Posted on 9/26/22 at 7:08 am to dallastiger55
quote:
Now that im older with kids I feel more stable working for my company. They match 7% 401k, I have a pension and full benefits
Benefits with an employer are almost universally better.
Posted on 9/26/22 at 7:23 am to tigersfan1989
You'll never get rich working for the man.
Posted on 9/26/22 at 7:37 am to tigersfan1989
Nvmnd
Russian bots strike again.
Russian bots strike again.
This post was edited on 9/26/22 at 7:40 am
Posted on 9/26/22 at 7:43 am to tigersfan1989
Depends. When things are running on cruise control and there are no issues.
Being your own boss is great.
Though there is a ton of added stress from outside factors that you don't think about. Insurance costs, taxes, warranties, COGS.
It's easier to be an employee. But if you are the type of person that likes to take a lot of vacations they being your own boss is the best.
Being your own boss is great.
Though there is a ton of added stress from outside factors that you don't think about. Insurance costs, taxes, warranties, COGS.
It's easier to be an employee. But if you are the type of person that likes to take a lot of vacations they being your own boss is the best.
Posted on 9/26/22 at 7:45 am to tigersfan1989
I have had my own business for 20+ years. I love it. I take on the projects I want, I pretty much work when I want, I have a regular office and a home office (where I do most of my work)
Posted on 9/26/22 at 8:42 am to cable
I'm an owner, I love it, but it is not for everyone, the majority of people don't have the self-discipline. I was a wage slave for over 30 years, made excellent money, lot of benefits, bosses stayed out of my way because I did the dirty work no one else could do.
In my early 50's, kids out of college, debt free, owned my house and my wife had a public sector job with great benefits. I thought and planned for a long time, then I opened up a business which had nothing to do with any previous job.
Within a couple of years I had 10 employees and the business was doing well, I wasn't making as much as I had before, but I was going work I loved. The problem is, once you start hiring people, the headaches start. No matter how good your people are, mine were great, people have people problems.
I get a call from a lawyer one day, he represents a client who wants to buy my business, before we sat down I did a serious evaluation, how much is this worth? I came to a reasonable figure, his offer was double that.
So I sold my baby, did a 2 year non-compete, started a similar business, this time no employees, just me. I like this even better, I make more than I need, I rarely work more than 15 hours a week, I set my own hours and I'll never retire, because I enjoy what I do, a lot.
I had some built in advantages, my wife's job had excellent insurance and since I was older and wiser, I didn't do something stupid, like buying a ski boat when I had a good month. I saw a lot of young entrepreneurs do stupid shite like that. I didn't even pay myself until I had 6 months cash reserve, every business has some bad times you have to be ready for.
In my early 50's, kids out of college, debt free, owned my house and my wife had a public sector job with great benefits. I thought and planned for a long time, then I opened up a business which had nothing to do with any previous job.
Within a couple of years I had 10 employees and the business was doing well, I wasn't making as much as I had before, but I was going work I loved. The problem is, once you start hiring people, the headaches start. No matter how good your people are, mine were great, people have people problems.
I get a call from a lawyer one day, he represents a client who wants to buy my business, before we sat down I did a serious evaluation, how much is this worth? I came to a reasonable figure, his offer was double that.
So I sold my baby, did a 2 year non-compete, started a similar business, this time no employees, just me. I like this even better, I make more than I need, I rarely work more than 15 hours a week, I set my own hours and I'll never retire, because I enjoy what I do, a lot.
I had some built in advantages, my wife's job had excellent insurance and since I was older and wiser, I didn't do something stupid, like buying a ski boat when I had a good month. I saw a lot of young entrepreneurs do stupid shite like that. I didn't even pay myself until I had 6 months cash reserve, every business has some bad times you have to be ready for.
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