More successful in life working for someone else or yourself?

by sinis 7 Replies latest jw friends

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  sinis

  Although I have always worked for someone else during my life, with pay and benefits I can't complain about, I'm getting to the point where I am tired of this shit. I have a co-worker whose wife started a business and within THREE years is grossing over 1.2 million.

  I talked to my co-worker who is going to retire this year (possibly) and he said had he of known in his youth what he knows now he would have worked for himself as that is where the true wealth and independence come from.

  My sig other has some business ideas and I am helping her out, so hopefully it will pan out. I do believe though that having your own business is hard work, but the success or failure is basically on your shoulders.

  Just tired of the work week rat race...
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  Murray Smith

  I have spent the last 30 yrs being mostly self-employed, but I'm not sure if my experience and thoughts are what your looking for. Nevertheless, I'll offer them for what they're worth.

  Looking back, the greatest value for me is the "independence" rather than the "wealth" factor. Working for a wage puts a "value" on your time which is fixed, whereas the independence of being self-employed allows you to use your time for things other than wealth accumulation that you still consider "valuable" ie; family,children, friends . . . even giving time to the other nameless, faceless members of your community.

  Certainly, having more resources by way of wealth is desirable . . . but the independence to decide how your resources are expended is of greater value to me, however great or meagre they may be . . . the quality of the "outcome" rather than the level of the "income" . . . if you like. Self-employment and it's independence grants you this privilege to a greater degree for sure. You and yours sound smart enough . . . so give it a go by all means. Good luck.
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  sinis

  That is what I meant. As I get older time is more important than money, and I hate being surrounded by "idiots" :)
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  OnTheWayOut

  Give and take. Instead of the one boss (or a few more), you have clients who are all your bosses. You still cannot tell them to eat shit and die, but if you get fed up with one, you can "fire" him as your boss. But then it hurts your pocketbook unless you replace him.

  Self-employed bosses have a potential bigger payoff, but tend to put way more into it. I can't say anything to compete with grossing over $1.2 million within 3 years, but it cannot be the normal. To have any chance of success, expect to put 80 to 100 hours a week into your business.
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  sinis

  Thanks again! I believe she is involved in health care providing for aged clients - in home care type stuff. I'm sure most of that grossed is paying out wages, insurance, cars, etc. Even if they made over a 100K her gig does not sound too bad as she now has staff basically running the show. Maybe her situation was a fluke thing? In any case nothing ventured nothing gained...
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  TotallyADD

  All I know is come this Sept. my wife and I will be starting a new business in the wonderful world of Donuts and Coffee. Wish me luck. Totally ADD
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  Murray Smith

  Good Luck Totally ADD . . . don't get fat!
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  chase

  if you are ready to give up everything else in life... fam, friends, time, etc. i say start a business. my dad started a towing co. but just died recently at 59 probably from stress. but he died happily giving orders. i could not imagine things any other way personally but it is all i know. just have a good business model. peace