Today, many people may say working as an employee is the safest option. But is it better to work for yourself than for someone else?
It’s far much better working for yourself because you have more control and freedom over the decisions made. In other words, you don’t have that option when it comes to working for someone else.
Working for yourself is the only safe choice to make because you’re the one in charge of making the big decisions for your business. But you know what the common saying is: With great power comes great responsibility.
In this post, I will go over some reasons why it’s better to work on your own than as an employee of a company. Also, I’ll go over what you can do now to get out of that employee mindset moving forward.
UPDATED: DECEMBER 22, 2022
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- There Is No Such Thing As “Job Security”
- You Work On Your Own Terms
- You Can Multiply Your Income By Working For Yourself
Is it better to work for yourself or someone else?
Working for yourself allows you more freedom to make decisions for your business; but more importantly, it gives you more control and flexibility in managing your life. Let’s discuss some reasons why it’s best to work on your own.
There is no such thing as “job security”
I don’t know who came up with the idea of job security, but it’s one of the biggest myths that many people fall for today.
Job security matters a lot to those who work for an employer. However, I think it’s one of the biggest lies to believe in.
During the COVID-19 recession back in 2020, that was not true for the 40 million plus individuals who were temporarily laid off or permanently lost their jobs.
It’s easy to think you’re safely employed this week, but you could easily lose that job a week or two later. A matter of events can happen in a short period of time.
As someone who works for a major company, I understand that I could lose my job for many reasons I cannot control. It’s why I continue to work on building a business in my free time- when I’m not working my full-time job.
The only type of job security that exists is working as a self-employed entrepreneur. Unless you quit and give up on building a business, you can’t give yourself a pink slip.
Why is it better to work for yourself?
When you work for yourself, you are in control of your business decisions. When you work on your own terms, you can make better decisions about revenue streams and income. Even though there are risks involved, the rewards are worth it in the end.
You work on your own terms
One of the greatest things about working for yourself is setting your own schedule. You’re not subject to work a strict schedule or have a set number of hours (i.e. working the 9-5 grind).
There’s no punching in and out or filling out timesheets for your employer to verify. All of those little things don’t matter when you’re the sole person in charge of your business.
Working on your own time can be one of the best privileges to have, but it’s not easy. It takes time, effort, and patience to get to that point where you have a successful, profitable business.
With great power comes great responsibility.Uncle Ben- in Spider Man by Marvel Comics
You can multiply your income by working for yourself
If you work for an employer, you get a set-in-stone hourly wage or salary. Sure, you may get an occasional pay raise from time to time, but the pay increase is likely going to be small.
In other words, a pay raise is not going to improve the quality of your life. Maybe a change in lifestyle, but not to a point where you have control of your financial situation.
When you work for yourself, there’s so much potential to earn unlimited income. If you make the best choices for your business, you can make more money than you may ever imagine.
If you have a business that’s earning revenue, you have the option to scale that business to the next level. Once you scale, you can 10x or 100x your income.
Relevant article from notimekillers.com
Read next on “What is the main purpose of going into business? My answer”, and understand what being an entrepreneur is truly all about. It’s much more than making money on your own.
What’s more likely? Increasing your pay as an employee or an entrepreneur?
Imagine earning six figures in one year- and then seven or eight figures the following year? Well, that’s something you can do when you work as an entrepreneur.
When working for someone else, it’s not easy going to your boss asking for a pay raise. It would be very hard to walk in and demand a 200-500% pay increase.
That’s very unlikely to happen. Forget about it unless you can persuade your boss that you are the most valuable employee at the company.
But as an entrepreneur, you have the ability to multiply your income to higher levels. It may sound unrealistic when starting out, but it’s possible with the right mindset.
As someone who’s working on a little business (this website), I know that the benefits of working on your own far outweigh working for someone else. Although I have not reached that point yet, I look forward to reaping the rewards of working for myself independently.
Not only that but having more freedom and some peace of mind. I know I’m the one in charge and take responsibility for the decisions I end up making.
If there’s any type of job security, the only safe route is to work for yourself. Whether as an independent freelancer or business owner, your options are too limited compared to working for an employer.
Some questions to consider
- Do you think it’s safer to work as an employee?
- Are you a big proponent of job security? If so, why?
- Are you struggling to get ahead in your career (i.e. getting a pay bump)?
- Have you ever wanted to work for yourself? Without all the worries or setbacks that can come with it?
If you think working as an employee is taking the safe route, I challenge you to rethink that concept. Based on what’s happened in recent years, that’s certainly not true.
If you’re in that position where you want to make changes, have you considered starting a side hustle? I like to refer to it as a business, and it can be done on a part-time basis.
If so, I encourage you to take action today on a better path ahead. If working for yourself is something you desire, start making better decisions now.
If you’re looking for a simple way to get started, check out my top recommendation for starting a business from scratch. It’s the best platform I utilize and help leverage my business to the next level.
Get started today for free: From there, take the next step forward to achieving financial success.
Your Turn: Which path is safer: Working on your own or for someone else?
I would like to get your thoughts on this topic. Have you always thought it was better working for someone else?
Do you think taking the employee route is the best way to guarantee satisfaction in life? Or do you believe working for yourself can lead to better streams of income?
Can controlling your source of income help you make better decisions in life? Can it reduce the risks of being tied to working for an employer?
Feel free to share your thoughts by leaving a comment below. I look forward to reading your thoughts, and I’ll gladly respond promptly.
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Eric is the owner and chief editor of notimekillers.com. He takes great pride in helping people manage their time and grow their businesses. Eric is a firm believer in financial and time freedom, as he believes in financial independence and taking ownership of your time. “Time is your most important asset. It can be your best friend or worst enemy. How you use your time can shape the future you desire to have.” In his leisure time, Eric loves to write and read whenever possible. He enjoys going for long walks outdoors while doing in-home workout videos every week. You can also connect with Eric via LinkedIn.