Why Being My Own Boss Will Give Me Financial Freedom

Okay, being your own boss sounds great, but how can it give you financial freedom?
Look at it this way. When you are employed by someone else all the money you make has to go towards supporting the boss, his family and the business. The harder you work, the more money you make will benefit him. You might get a bonus if you're lucky.

Being your own boss means that all those benefits go to you, not the boss. That's where the freedom comes in. You are also free because you can choose when you work, how you work and where you work.

There are other advantages. Firstly, you can't be sacked. When you work for someone else in times of economic crisis you can't guarentee that if the boss has to cut costs you won't be the first to go.

What about the risks?

Of course they exist but they needn't be inevitable. Let's look at why people can fail.

The most obvious is that they haven't produced a business plan for their new venture.

Secondly, they can sometimes be tempted to start off at full tilt instead of building up gradually.

Thirdly, they are entering a market about which they know nothing but which they have been told will make them millionaires in no time with very little effort. Probably they have answered one of the get rich quick schemes on offer. Most of these 'businesses' are not scams, they're just not as simple or free to operate as they suggest.

To really enjoy being your own boss and building up your own financial freedom you should start from the point of something you like and know about. Remember everyone has a skill, knowledge, experience or time that people will pay for. In future blogs I'll try to steer you into the way that suits you best.

Theodora Cochrane is the author of Prospecting For Gold which is a business course designed to help budding entrepreneurs to take the first steps to success and to offer helpful suggestions to successful entrepreneurs who are looking for opportunities to climb a few more mountains. See more at http://www.showme-financialfreedom.co.uk/ or email freedom@percydale.com