As lucrative as it sounds before you think BYOB is the way to go, let’s put in perspective some Case Scenarios. So, through these scenarios, we will see what happens to you once you decide to be your own boss. And then you can answer yourself.
Case Scenario 1- Why do we choose to be entrepreneurs?
One universal factor that itches an employee is the lack of approval and appreciation. It seems like an industry standard, every employee feels insecure due to this reason at least once a day. And hence to achieve, if not approval but self-satisfaction and peace we are driven towards building something of our own.
In this latent process we forget that by being your own boss, you will face the exact same issue. No one will appreciate you. So, your satisfaction at the macro level is then driven by your monetary success. Therefore, an entrepreneur needs to think about their purpose before becoming their own boss.
Case Scenario 2 – Financial Freedom
So, of course, finance is supposed to be the priority. You can’t run the marathon without legs! But to generate money you need investment, though it might be very little. In order to eventually expand the business and gain the freedom you intend, you will have to let go the exact same freedom for some time.
Hence, this freedom you have been fighting for will come only after giving the freedom away first.
Case Scenario 3 – Sole ownership of your idea?
Yes! We all imagine ourselves saying, “I build this”. The feeling is absolutely exuberating. You know that at the initial stage all this seems so cool. But, Ting! Ting! Now you are the boss you used to dislike because of the lack of appreciation and the same reason why you left the organization.
Now you will have employees too, so you’ll have to decide if you want to be the good cop or the bad cop?
Case Scenario 4 – The Risk Factor
You are the Boss now and congrats! It’s your company, your money, your business. It drowns you drown with it, but if it sails you get your personal gold mine. Now, dude you are going to have some sleepless nights and no one else in the world will lose a single second of sleep over your troubles.
But the risk to satisfaction after success ratio is very high. The greater the risk the greater you reap.
Case Scenario 5 – The Becoming
With all these and numerous other trials it is not just your idea that solidifies, but you too. The one factor that is the most important to understand the whole process of entrepreneurship is that you try to find yourself and your potential. It is not about proving but it is about discovering yourself.
Where does business stand when we talk about all these scenarios? Being your own boss is great but the point that comes into factoring here is the requirement of money which so many times is taken as a priority rather than the faculty of a business itself. The one question we all must answer before beginning a venture is why do we want to become an entrepreneur; to build something or just simply be our own boss?