If I were to own a business there advantages which may work to your benefit. Firstly the money earned is mine to reinvest in the business, save or even pay myself. The clients are in contact with me not someone who may have very little interest in the welfare of my business, with this in mind the customers are likely to refer the business to others if they are treated well. The hours of operation will most likely be suitable to me as I will also be accommodating to the customers. There is also the prospect of experimenting with new ideas to help to market the business and in turn make more money. I will be passionate about the business as it will be something I will want to do.
However, there is the downside to being my own boss, such as having to invest saving, taking a loan or whatever form it may take to get the business running smoothly. Also,I must make certain the business is definitely providing a service or the goods the customers needs, as this can lead to just making enough money to keep the business going and very little or none for saving or paying oneself. Then there aspect of limited free time as I will have to be committed to making the business work, so little or no vacations or me.
So what happens if I work for someone: there is definitely the payment at the end of the week, or two weeks or month. Also,there is the vacation leave received every year and is paid for. There is also the medical, insurance benefits in which some businesses provide for their employees. Some businesses provide pension or thrift fund for their employees. The working hours are fixed and any hours worked beyond the set limit is paid extra. The disadvantages of being employed are there is no avenue for the employees to give ideas as to how the business should be operated in terms of marketing, customer service or general input which the employee may see as valuable.
Despite the good benefits of having your own business I would rather to be employed.
I love your Ideas. I think when persons think of the disadvantages of being their own boss and the work it takes to start they prefer to work for someone else.
ReplyDeleteI do agree that the money earned will be yours but consideration must be made for the development of this business. In other words, profits must be used wisely.
DeleteI do agree that the money earned will be yours but consideration must be made for the development of this business. In other words, profits must be used wisely.
ReplyDelete