For a lot of people, the desire to start something of their own crosses their minds often. Whether one has ambitious plans to create a rapidly growing enterprise or become a freelancer, being your own boss is exciting, challenging, and risky. Marty Jacobs, the co-founder and chief operating officer at Astra strategies, has explained the advantages and disadvantages of being your own boss.
First, being your own boss means you make all the decisions concerning your career life. There is no co-worker or power-driven boss to tell you how to execute your job. Secondly, there is more job satisfaction in being going solo. One gets a higher sense of achievement, significantly when the company is growing. Third, all the profits you make are yours – unlike being employed, where the more effort you put, the more profit you make for the employer. Fourth, you get an open-ended career progression. Currently, Marty Jacobs is focused on building a media firm and investing in new businesses. With self-employment, your career growth and income potential are only limited by your proficiency and willpower.
However, there are also challenges of being your own boss. First, there is no guarantee of a steady paycheck at the end of the month. Thus, being your own boss requires you to be a risk-taker and sacrifice a steady paycheck. Also, one needs to put in more effort, like working for long hours and weekends without getting any bonus or overtime.
Marty Jacobs is a self-taught entrepreneur born in Boca Raton, Florida. Jacobs would like to focus on building a media firm that helps small businesses achieve their goals. He has a great passion for writing and sharing stories to inspire small businesses.
Having interviewed hundreds of business owners, the insights given by Marty Jacobs are intuitive. As a small business owner, one should be motivated by the benefits and acknowledge everyday challenges.