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Pros and Cons of starting your own business

To kick off enterprise week, here is a list of the pros and cons of starting your own business. It’s easy to think of the pros when it comes to setting up your own business, but spare a minute to consider the cons too… often they are the things no one talks about, or tells you about before going it alone.
Pros:
  • You are your own boss – no more dealing with personality conflicts or trying to climb the corporate ladder
  • The freedom and flexibility it affords – flexible working hours, meeting friends for coffee or lunch
  • Lots of supports available for those looking to break free from corporate life
  • Getting to choose who you work with
  • Potential to earn more than if you work for someone else
  • Connecting with other like-minded people
Cons:
  • Freedom and flexibility can also lead to overwork, and especially because you love what you do, it’s hard to ‘switch off’
  • No one to bounce ideas off or complain to about the boss (you ARE the boss!)
  • Loneliness and isolation – no desk buddies, Friday night drinks or coffee runs with your work bestie
  • Money… now that you work for yourself, you’re not guaranteed a regular income
  • You have to do everything, I mean EVERYTHING, in your own business. I never realised how much time could be eaten up working on social media for my business

What else can you think of? What else would you like to know?

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