Being Your Own Boss

Most Americans dream of being their own boss. This is true
for many reasons. First, America has that kind of promise.
If you play by the rules, there is virtually nothing you
can’t accomplish. Just ask any number of Korean and
Vietnamese immigrants who fled their countries to come here
and start up their own businesses. They are truly a late
20th Century success story in this country.

Second, it’s not often that much fun working for someone
else. There are plenty of rules to follow. There are
specific hours to be in the office. There are specific
sales goals that must be met. And on and on. Your own
business isn’t going to be a vacation, but when you go in
early and stay late, you’re doing it for you; not the
person who signs your paycheck.

Third, the control of running your own business is both
exciting and, at times, overwhelming. Responsibility is at
your feet. There is no one to pass the blame off to, but
small business owners wouldn’t have it any other way. They
take a chance every day by running their own shop. Yet
many wouldn’t trade it for working for someone else again
if they can possibly help it. The risks are great, but the
rewards can be greater.

There are many sad stories around this country about people
who dreamed big, who had a good idea, but who couldn’t
summon up the courage to take it any further than their own
thoughts. Afraid to take a chance, they passed up the
risks and the rewards of striking out on their own. At the
end of their lives is always that doubt, always that
wonder, always that speculation, about what their lives
would have been like if they’d only taken that one chance.
The independence that comes with being your own boss also
calls for a rigid discipline on your part. Because you are
the one setting your own hours, there is no one to tell you
what time to start, what time to knock off, what time to
take lunch, how much work must be accomplished each and
every day. This is the drill you must teach yourself. You
have to set your own goals and objectives, financial and
otherwise. You’ll have to analyze your market, what you
will produce, how much it will cost to produce, who you
will distribute the product to and how much you will
charge.

You will also know what your profit margin will be on each
unit. Knowing that, and how long it takes to produce one
unit, will help you to set up your work schedule. It might
be ten to twelve hours a day to start, much longer than you
worked for someone else. But instead of a paycheck equal
to a small portion of the profit, you’ll keep the entire
profit margin for yourself. It’s a whole new world!

 

Leave a Reply

Your email address will not be published.

I accept the Privacy Policy