Self Employment: Do You Have What it Takes

Posted by R MAK 10 August, 2008

Abraham Lincoln once said that; “Representing oneself in a court of law guarantees that there will be a less-than-gifted lawyer with a less-than-intelligent client” These are not his exact words but he said something like it and it is really true to its root. Quitting a Job that pays a regular salary in order to work for yourself and setting the world on fire is roughly the same thing. I never realized what it was really like to work for a colossal idiot until I started working as my own boss. I thought I have seen the best of the bosses and worst of them too in my 8 years of work history. I was wrong, I was my own worst nightmare.

Boss, You are Fired

Thanks god I recovered and learned and survived. I am really thankful to my wife, my father, mother and brother who are taking care of me in this time of need and understanding that I am trying to build a business. I was lucky to have such a nice safety net. They supported me at time of need and thus I survived. This is another story that I am planning to tell at a different point in time… for now just some words of advice and caution for people who are thinking to quit their current jobs and want to turn to self employment.

Self-Employment is indeed a great way to liberate yourself from those idiot and stupid bosses that rules 70% of Corporate America. If you go this path chances are that you will find out that you are now working for a bigger idiot who is more stupid than the one you just insulted on your way out of your last job. Like other things in life when you find this out, It’s too late. I would recommend that you consider some of these pitfalls before you go and tell your boss to take his job and shove it somewhere..

Once you walk out that door, is there any chance of coming back?
If you can come back, will they start you in the same position and not the mailroom?
Can you pay yourself salary and benefits equal to those you’re leaving?
Can you pay yourself without using up your savings and college fund for the kids?
Do you understand what deficit spending is?
Are you ready to spend more hours working than ever before?
Does your spouse want you around the house all day?
Will your spouse allow you to turn the spare bedroom into an office?
Are you sure that you are organized enough to be productive?
Will you be as brutal on yourself as you were on your Boss when things screw up?

If you answered negatively to any of these questions, you might want to think twice about quitting & just make sure that you don’t shoot yourself in the foot.