Monday, October 29, 2007

Benefits of being self-employed

Imagine this. The company you work for has just amassed a multi billion-rupee profit; your annual bonus for playing a part in this achievement is Rs 20,000. You work till 9 pm most evenings, and your boss doubts your commitment. You painstakingly prepare the sales presentation and your boss gets the credit since he always presents it.

When such things happen - and I am sure these things do happen -- do you feel the itch to just break out on your own and leave the company politics behind for good? Does any of this sound like the woe-story of your work life?

It's probably true that each of us have felt strongly about some of the above statements at our work place. There are varied reactions to such situations. Some people feel frustrated, crib and carry on. A few others want to change this situation for good in order to fulfill their potential. If you fall into the latter class, you just might consider starting your own business.

Am I meant to be self-employed?

Starting up a business requires detailed planning. An entrepreneur needs to anticipate change in markets, adapt quickly and avoid pitfalls. Odds are that even if one gets most of these elements in place, most businesses aren't profitable for the initial few months.

Owning a business is fraught with risk, but the excitement and rewards make the risk taking quite worthwhile. Most people are meant to be self-employed, just that they must choose the area of business in sync with their personality and strengths.