This article has not been written to dissuade you from working for yourself. It is simply here to inform you of the things you will have to do, or not to have to do when starting your own business. Most of these probably won't be a problem for you, but you still need to know them.1. You are liable.
You will become the lightning rod for your company so if crap happens it's going to fall on you first. Some people can take pressure well and others cannot. Just keep in mind that with power comes responsibility.
2. You have to be organized.
If you are going to be at the top of the ladder then you have to make sure you are well organized. Paperwork can be the downfall of any corporation as we have seen with large companies before. If you are not organized then you have no business. Use color copies to keep organized.
3. You have to be self-motivated.
When there is nobody cracking the whip for you, you have to crack the whip for yourself. Some people are naturally motivated (I personally am not) and others need an outside source to get them moving. Just make sure that you are moving.
4. You can spend your money.
It's nice to know that you have a couple thousand dollars to spend, but don't. In most cases, it takes money to make money so if you spend it on an entertainment system, you won't have money to re-invest in your business.
5. You have to be strict.
If you ever do have employees you can't back down. You have to be the disciplinarian and most likely your employees won't like you (especially if they are bad employees).
6. Lawsuits will become a part of business.
Nobody likes to get sued, but I have never seen a business that hasn't been sued yet. Sometimes it's big and sometimes it's small. Whether it is your fault or not you need to have a good lawyer because lawsuits are simply a part of business.
7. You may not get to do what you like anymore.
You will find that being at the top means you don't have a lot of options. Most CEOs have nothing to do with what they sell. If you own a publishing company, you rarely write books. Your job is to make money.
8. Less free time.
You may be able to work when you want, but in order to make ends meet you may have to work more than others.
9. A huge risk.
Working for yourself is a big risk; you could lose everything if you are dumb about it.
10. You could become too successful.
Okay maybe this isn't a bad thing, but I had to lighten the mood before the article ended.
Overall working for yourself suits some people better than others. Although, at the end of the day when everything is said and done you will probably feel much better about yourself if you are self-employed.