Be Ur Own Boss Or Work For Someone?

[Guest Izad93]

Which is better? What is the advantage and disadvantage of each?

[yhtang]

Very often, people think of being their own boss.  This is quite normal.  The employees feel they are always under the yoke of a boss.  However, if you are running your own business, your customers are your bosses.

 

Assuming the business requires employees, then you, as the boss, will also have to face the temperaments of your employees.  If your business cannot run without these employees, you now have your customers and your employees as your "boss".  

"Wait," I hear you say, "I can always fire my employees!"

Yes that is correct, but please ensure the correct procedures are followed before firing them, in case they make a case against you for wrongful termination.  And you will need someone to cover the work of that employee after he had been fired. 

There is also an internal factor - being the boss means working long hours, especially in the initial few years.  Of course, this depends on the industry.  No, it is not the financial capital I am referring to when I bring up the internal factor - it is the character of the person himself that is involved.  Initially, the boss will be involved in sales, need to kiss asses for someone to buy the items being sold, promise the moon and deliver, sweet talk the purchasing department, etc. 

These are some (not all) of the factors that need to be taken into consideration before launching a business and be your own boss.  The risk is there, and the risk can be high.  If and when successful, the rewards are there.  

Best of luck in your endeavours, and may success come your way. 

[Why?]

On 8/16/2022 at 12:55 AM, Guest Izad93 said:

Which is better? What is the advantage and disadvantage of each?

The key to freedom is whether you LOVE what you do and then create an universe out of it, not whether you are a boss or a worker.  Similar to how someone started a Star Wars toy company, whether or not it succeeds, because they are so passionate about the movies. Similar to this, a chef who loves to cook so much opted to work in a hotel. Then, each employee has a secondary motivation. To gain experience, work.  to socialize, to feel secure, to adhere to a strict routine in life, and to lead a non-adventurous lifestyle

 

No one is cut out to be the boss.  I've witnessed bosses that acted carelessly, uncommittedly, and dishonorably.  I've observed employees that can guide the boss and take pride in it. Because of this, the boss would perish without his worker.

 

Go ahead and join the Hawkers, then let me know what you think. In order to prepare culinary ingredients, you get up at 3 AM.  People grumble when the food is not good or when it is too pricey. NEA will regularly bother you about stall cleanliness, cockroach nests, etc.  You are now a boss working 18 hours a day.

 

The last boss I had was in the media business, and he went to Loan Shark to borrow money to pay his employees' salaries.  You must assume that he must be delighted to be the boss and he giggled after telling me about it. 

 

In conclusion, what I felt the most ideal is.......*drum roll*

 

1) To be a boss without a worker.....or

2) To be a worker without a boss

 

At least, that is what I preferred.

 

 

 

 

 

 

 

 

 

 

[fresh7up]

On 8/16/2022 at 1:18 PM, Why? said:

In conclusion, what I felt the most ideal is.......*drum roll*

 

1) To be a boss without a worker.....or

2) To be a worker without a boss

 

At least, that is what I preferred.

 

Food delivery rider(?)

[Guest Not wise laop]

I remember someone who teach tuition as a living. 

Then he want to own his own tuition center.

Why teach for other center. Setup own one. 

 

Be own boss. 

 

Turned out he just own his job la. 

Being a boss means you can pay other people to do the work while you get paid. 

 

If you pay yourself to do the job you already doing. You are just owning your job. 

 

Then the boss becomes customer and etc 

[Guest Boss simi]

On 8/16/2022 at 1:20 PM, fresh7up said:

Food delivery rider(?)

 

You are not your own boss le. 

You own a food delivery service to compete grab food or food panda than that's boss la. 

[sgmaven]

Many people forget that being your own boss also entails the attendant financial risk. If whatever you do doesn't generate enough income, you literally are left with nothing. Working for someone means that you pass on the burden of those responsibilities to your employer - things like Employer CPF contribution, your medical benefits and health insurance, etc.

 

Many who "moonlight" or work in the grey economy do not report their actual income to the government, thereby evading taxes. Not only is this a criminal offence, many also do not contribute to their own CPF or buy medical/health insurance. They might "enjoy" themselves while the going is good, but such practices may cause that person to be without any retirement nest-egg or worse, be unable to pay for any medical emergencies.

[radiusulnar]

for average wage earner like me, dream is to be boss. of course, boss has all the problems described above but the grass is always greener. and no matter how bad boss life is, will also be better than low end staff

[yhtang]

On 8/21/2022 at 10:28 PM, radiusulnar said:

for average wage earner like me, dream is to be boss. of course, boss has all the problems described above but the grass is always greener. and no matter how bad boss life is, will also be better than low end staff

 

If a boss earns about the same amount of money than a low end staff, then the "gain" from being a boss/self employed person is that the boss would have a bit more  freedom than an employee. 

 

There is, of course, a risk of the boss losing the whole of his capital or more - and end up having to file for bankruptcy. 

 

At the end of the day, no risk, no gain.  Venturing into self employment is very much dependent on each person's risk threshold.