by Josiah King

Created on: June 10, 2008   Last Updated: June 21, 2008

This is a challenging question, to work for another, or to be self-employed. Though I write on the side of self-employment, as is my preference, I recognize that this is not for everyone, in my experience.

Presently, I am in the midst of developing two business opportunities, as well as an initiative to help in Israel. But, let me assure you, it does not come without costs. Many understand that, in the beginning, you often are losing more than you are making. There are so many things you have to establish in a good business. You have to build your own client base, establish yourself as trustworthy, and, of course, a good product or service. These things can take time to develop, especially if you are a counter-intuitive businessman like myself.

It is my belief that the "golden rule" should apply in business as well. "Do unto others as you would have them to do unto you." Perhaps another way to say it is to have good business ethics in all your interactions and transactions. This obviously doesn't come without costs, since many who are self-employed understand that there are those who would seek to monopolize on your goodness to take advantage of you. The simple truth about this is that you cannot fully avoid it. The best you can do is try to use discernment and good judgment on whom you should do business with and whom you should not.

There is a lot more risk and responsibility that you take on as being self-employed. You have to absorb the losses you incur, deal with the taxes on all earnings, find your own insurance coverages, do all your own retirement investments, and so on. So I often think it best to say that being self-employed is not for those who like the comfort of the boat, but for those who are willing to step out on the water. To put it another way, being self-employed is not for those who like certainty and predictability, and minimal responsibility.

On that note, this is why I believe that it not for all to be self-employed. There are those who are better fit to work for an established employer, and to go further, are needed. Come on, let's be honest. If it were not for those who prefer to work for another, we self-employed would be stuck doing all the work in our business. And for some of the self-employed it is OK for them to go it alone. For others, especially those who seek to grow and expand, there is need for the employment of the non self-employed to take care of some of the work that would keep you bound to the office.

So, it is my personal view that there is necessity for both the self-employed and the non self-employed. Both have a role to play and are important.

That being said, I still prefer self-employment if you seek to regain the one commodity that is as irreplaceable as your life, and that is your time. My philosophy is work is not life, but work is so you can live life.

I would also like to add that if you are self-employed or prefer to work for an established employer, be not ashamed or envious. Remember, that you are needed and important, but also keep your mind open to learn from one another. There are good things to learn from both, in my opinion.

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