"Be your own boss!" "Set your own hours!" "Answer to no one!" These are some of the "affirmations" people hold onto when they decide to go into business for themselves. There's something about working for ourselves that brings to the fore a very American sense of accomplishment. Indeed, our country was founded and made wealthy by entrepreneurism.

I am self employed, so I can tout, firsthand, the many positives of owning one's own business.
And, as an accountant, I'm also fairly familiar cons of being a self-employed entrepreneur. In reality, the "cons" don't have to be so overwhelming that they become insurmountable. However, they MUST be dealt with, because if they are not, they can easily become the downfall of your entire venture. And this is largely unnecessary. Following are some tips for keeping on top of the minutia that can undermine your best efforts. Think of these "details" as being very much like termites; a house infested with them can look great on the outside, yet still be disintegrating from the inside out. Likewise, you may be in great demand as far as the product or service you provide, but if you aren't careful with organizing the details, you will very likely not make it. While each of the headings below comprises the "cons" of business ownership, dealing with them in the manner suggested will turn them into mere petty nuisances. They only become major issues when they are ignored (they're kind of like three year olds they will whine and throw a tantrum if you don't tend to them efficiently).

MAKE PEACE WITH PAPERWORK

From the time you first establish a name for your company with the Secretary of the State, and have decided whether you want your enterprise to be an LLC, an S-Corp, a C-Corp, or a sole proprietorship, paperwork becomes par for the course (I use the term "paper" work loosely, as many forms these days can be filed online). There are legalities and technicalities that must be addressed at the fore, so it's not a bad idea to hire an accountant at the same time you hire a lawyer to help you get started.

When one first considers starting up their own business, they look at their personal attributes, the qualities and expertise they have that are marketable. For example, if you are a decorator and you want to bite the bullet and go out on your own, you're obviously value add is that of artistic, creative effort. This type of talent runs a bit counter to the nearly anal way paperwork must be dealt

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