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Working for myself versus working for somebody else - which is better? i am at a crossroad in my life, I have recently finished university and wondering which path to follow 1) regular employment or 2) self employment. I always thought I would do the 'done' thing and finish university get a job for 40-50 years retire and die. however in this economic climate my attempts to gain employment has proved more difficult than I would have liked and my chances of getting one (or a decent one at least) seem to be slim to none and slim just left the building. Which has led me to pondering another route, that of self-employment. This appeals more and more everyday. especially given that i am not in a position of responsibility, and even if i drive my business into the ground it would only affect me, which is something i can live with. I have a couple of ideas, but i am asking you whether self employment is 'better' than working for somebody else? are you self employed? or know somebody who is? if so would you/they recommend it? would future employers look down on me if i was self employed and later seek typical employment? is it really better to try and fail than to never have tried at all? thanks.

By: Guest
Date: Wed-Jan-13-2010-
Response
0

Answer 1

My advice to you would be that before you could consider self-employment, you need to be an employee first in order to learn a skill and learn how business works. Once you know this, you can look at becoming self-employed.

My former boss set up his own company. Ten years later, the company had grown to 150 employees across 14 countries, and he sold the business for £17 million. What made him successful? Well, it was a recruitment company, and he was a fantastic recruiter himself. He'd worked in recruitment roles for ten years before going out on his own. Of course, there is so much more to it than just this. You have to understand the market that you're operating in. You have to have the personal skills to make it work - my boss was very charismatic which makes it easier to network and to gain new business.

You ask if this would affect your future chances of employment. I would say not necessarily, but there are a few things to think about. On a personal level, if you've never had experience of being an employee, then you don't know how to behave as an employee. You're not used to being told what to do. You're not used to being told that you have to be in the office at a certain time. It's possible that a future employer would wonder if you could adapt. Whilst you probably could, this is going to be an issue for someone that's less than confident in their managerial abilities. I think the other concern should be that if your business does fail, you need to be able to show that at least you've given it a good shot. You need to talk in detail about what you've done and why. Otherwise it will be seen as no better than a gap on your CV.

So ... is it better to try and fail than never to have tried at all? Ultimately, no, but I fear that by trying now - as a new graduate - you are setting yourself up for failure. I eould recommend that you get some business experience and then give it a shot.

Answer 2

there are good and bad points for both if you work for yourself you have to take responsibility, pay the workers e.t.c (on another hand no one is there to tell you what to do)

If you work for someone you have to follow instructions and get bossed about (but you can get sick pay and bonuses)

in conclusion i would say it is up to YOU_

Answer 3

the biggest problem with being self employed is getting payed, a lot of customers hold out until you threaten legal action and it can be hard to make plans when you do not know how much you have coming in and when. working for a big company is easy everything is there for you and you know how much cash you will have come the end of the month. a lot less stressfull but you will never be a millionaire.

Answer 4

Well...

1) Regular is becoming very poor. If you really have an urge to work for yourself why not? Whats stopping you?

2) Try it, nothing to lose, everything to gain, right?

I recommend www.homeit.blog.com

Joshua

Answer 5

I was an independent computer consultant for 12 years. I'm very familiar with being self-employed. Here's my perspective...

If you are selling yourself as a service (I was selling myself as a computer programmer) then you have to have valuable skills that someone is willing to pay for.

Maybe you are selling a service. Same thing -- is the service you intend to offer of value? Will people pay for it?

If you are willing to work hard and can pick a product or service for which you have great passion, then self employment rocks. After all, when you are self employed, you only have to work half time. And you even get to pick which 12 hours each day (7 days a week) you work!

Being self employed also brings greater headaches. It's a way of life, not just a job. You need to do all the financial stuff, for instance. Plus marketing and sales along with actually providing your product or service. It's a lot of work requiring a very well rounded set of skills.

Furthermore, you will always be on the prowl for business. It becomes almost impossible to have a conversation with someone without thinking in the back of your head about selling yourself to that person. Even if he isn't going to buy your product, someone he knows might, or he might have leads, or be in a position to say good things about you or have ideas for how you can better your product. Or.... You get the idea.

I loved being a consultant. But it was a great time to be a computer programming consultant. I was saying No to a lot of work because I just didn't have the hours in my schedule.

There are books about setting up a small business. You will want to read them.

Answer 6

It sounds like you have already made up your mind doesn't it. However, since you asked I will give you my opinion. My husband and I go through this about once a month. THe things to consider when trying to decide whether you want to start your own business are plenty but these are my top issues.

Are you going to be able to get health insurance?

If the market is bad for other companies how will yours be different?

Are you aware that if this business goes under you are bankrupt?

Will you be able to pay yourself enough to survive, meaning pay all company bills and your personal bills and any employees you may need?

Are you going to be able to handle the stress?

Just a few things to consider. My suggestion would be to apply for any job that you see and work until the job you want comes your way, but Like I said I think that you have already made your decision.

Answer 7

Hi there,

It really depends on what ideas you have for self employment.

It is a documented fact that during economic hardship (like now!) there are more millionaires made than at any other time!!

For what its worth, I have recently been made redundant, which was a complete shock, and have started my own business on the Internet. I can honestly say that already I would not want to work for anyone else ever again - (I am 44 by the way)

If you have got the entrepeneurial flair and the get up and go then I say go for it. Whats stopping you?

As for whether employers in the future would look badly upon it - quite the opposite. I was in a job where I did a lot of hiring and firing and I loved having an ex-self employed person walk through my door. Not only do they see the job from both the employer and the employees side but they are not frightened of hard work.

If you have an interest of the Internet by all means take a look at the website in the sources below.

Whichever way you jump I wish you the very best of luck.

[d] By: Guest
Date: Unknown---
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for restaurants, kiosk, and any other retails business completely free. It can be used as windows cashier system or as full blown POS. You will able to print to kitchen, display orders on the kitchen screen, manage inventory, employee, report, customer loyalty offers, employee management, delivery address track and much more, all for free.

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