Episode 51: The importance of being your own Boss vs being an Employee

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00:40:11

June 18th, 2021

40 mins 11 secs

Season 3

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About this Episode

Are you Risk Averse? Being your own boss requires some degree of risk. How good are you with dealing with risks and can you look at risk as a fun and rewarding challenge? In racing, every lap takes you approx. 2 min, each lap we get a new challenge or opportunity to do better. As a business owner, everyday is a new challenge. Sometimes with many rewards. Are you ready for that opportunity?

One of the best perks about being your own boss is that you not only get to create an amazing job and work environment for yourself but for others, as well. By creating your own company and hiring staff, you're giving back to others, as well as to the local and national economy.

You earn more money. On average, freelancers earn 45% more than those who are traditionally employed. They're also allowed to deduct certain business expenses that employees are not, allowing them to actually keep more of what they earn.

It's true that when you run your own business you will have much less job security than when you work for someone else's company, or at least until your business becomes a success and starts to generate a good income.