Tuesday, January 14, 2020
Being Self-Employed vs. Working for Someone Else
Being self-employed vs. working for someone else Self-employment and working for someone else has many of the same benefits and disadvantages. Although self-employment will allow a person to be his or her own boss and have endless financial possibilities, it also can be harder than working for someone else. Just because a person is able to work for their self, it does not mean that it will be any easier than working for someone else or even be more successful. Self-employment allows individuals to create his or her own schedule, allowing flexibility in the time that will be spent working.The flexible schedule of a self-employed individual is a good benefit. However in order to be successful at it, a lot of time has to be invested in it. If time is not put into the job, it will be difficult to maintain it. Having a flexible schedule allows the individual to have more time at home and also enableÃ¢â¬â¢s the person to work the hours convenient for their schedule. People normally find it easier to be self-employed because they feel that the freedom of working whenever they want or feel the need to may make the individual feel like they have power and authority they would not have working under a supervisor.However, good time management is essential to for self-employment. It is imperative that a person who is self-employed manages their time wisely and maintains themselves organized. It may take some time to get organized properly, but if the person practices how to best maintain organization with time, they will eventually come up with a work routine that best fits their work. Discipline is the key to being self-employed. If not, they run the risk of disorganization to the point where they will no longer be able to run their business or continue with their work.Without discipline and disorganization, the chances of financial success will be slim. Self-employment can be a financial success. There is the possibility of living very well when owning a business or si mply just work on your own. It also depends on what type of business or career path the person chooses in order to work for them selves. A person must consider that there are sometimeÃ¢â¬â¢s many costÃ¢â¬â¢s in initiating a self-owned business. Maybe start-up materials, hardware and financial management software to keep track of finances will often be needed when a person is self-employed.Organization and financial responsibility is crucial when owning a business or being self-employed. If the person that is self-employed does not manage money well, they run the risk of losing their business due to mismanagement. This will be a great disadvantage because not only is the person not able to be self-employed but they might have been out of the work field for a long time and did not gain much experience in a field that they would go out and try to work in after they figure out that working for themselves is not going to work for them.When the person tries to find a job and the hirin g manager sees how long they have been out of work and not enough experience, they may be hesitant to hire the individual. Working at a place of employment for someone else also has many benefits. For the most part, the employee will have a set schedule weekly and the employee will have to follow that schedule. Normal business hours are 8:00 a. m. to 5:00 p. m. unless of course the person works part-time, they work at a restaurant, a retail location, or maybe just a job that will schedule the employee when they are needed.In this case however, the employee does not set their own schedule, their supervisor, or boss will be responsible for that. There is not much flexibility with the schedules at a place of employment. While working for someone else, he or she is normally working under someone that they need to answer to and flexibility is very rare in the corporate world. A supervisor however, will take any time off needed as in vacation time, personal and sick time. Employees are en titled to the time off when working at a place of employment.Depending on the work field and if the individual is a full-time or part-time employee, the time off will be paid by the employer. The rate of pay at work place may not always be what the employee needs or is looking for. It could just be enough to make ends meet but it can also be exactly what the individual is looking for. Many companies require college degrees in order to make what the individual needs or should make with regards to their salary. Along with having a college degree, experience is absolutely necessary to earn top dollar.A degree does not necessarily mean that a person will be the most qualified to do the job but it does give the hiring employer that the employee they are considering has a sense of discipline, responsibility and knowledge that comes from a person with a college degree. Without the requirements, it will not be easy to obtain the type of salary the person wants. There are instances where eve n if the person meetÃ¢â¬â¢s the requirementÃ¢â¬â¢s needed to obtain a high or decent salary, some small companies are not able to pay these high salaries even if they wanted to.That is when individual either settle for what they are offered, continue searching for a job that meetÃ¢â¬â¢s their expectations, or become self-employed. Being self employed vs. working for someone else has many of the same advantages and disadvantages. To be self-employed, an individual needs to make sure they are organized and are prepared for the overhead costÃ¢â¬â¢s that come with either owning a business or possibly just providing for your self and not having to answer to someone else. Working for someone else is not bad.A person has to be prepared and make every effort they need to in order to be successful at their place of employment. People in life have to make choice with regards to their careers. Do they work for themselves or do they work for someone else? In the end, he or she must choo se what makes the most sense and what he or she will know they can handle or not. Just because someone works for themselves, it does not necessarily mean that it will be easy. It can be just as hard as working for someone else.