information about enterpreneurship versus working for others?

Answer 1

I have done a lot of both. It comes down to what type of person you are. Being a business owner is a great thing. It's empowering, and has limitless money-making potential. But, you have to be disciplined, and driven. You also need to be able to, and have a passion for, learning about your industry. You can't make money in an industry if you are a newbie, and uninformed. That's why entreprenours will tell you: "do what you know." And, if you can't manage your time in some kind of structured way, you will certainly fail.

Working for someone else has its advantages too. There are millions of jobs out there, and there are a lot of jobs where you can go there and be as lazy as you want, and still get your paycheck at the end of the week. This is also the only way to get into big corporate business, if that's what turns you on. But, obtaining degrees and/or training are more crucial for job success than self-employment. That's why most of the self-employed people I know were not the academic types.

According to statistics, there is a very significant portion of americans that are self-employed at the moment, and the number of millionaires has increased dramatically as a result. If you have the discipline, desire to learn, and drive, I would recommend self-employment. If it doesn't work out and you go broke you can always go look for a crap job anyway.

Answer 2

Working for others you will be subject to rules regulating your time, abilities, and personality within that organization. You will have IRS and benefit fee amounts pulled from your wages. Your wages will be set by your employer and you will be expected to work as hard as they require for those wages.

Working for yourself you will be responsible for your own insurance and benefits and will be required to find your clients in order to make money. You will be responsible to the IRS for Social Security payments and will be subject to theoretically higher taxes. However, all expenses you have in the operation of your business, client meetings, supplies, building, electricity etc. can be deducted from all of the money you make to adjust total gross wages. Working for yourself you will be in charge of how much or how little you make. You solely are responsible and therefore could make a great deal more than if you were an employee if you have products or services that are in high demand.

Hope this helped!

Answer 3

When you work for others, you are guaranteed a paycheck. When you work for yourself, you are not BUT...you get to keep it all and there's not limit to what you can earn.