Working for yourself versus working for a company
July 11, 2006
It is interesting hearing about people working for a company for 10 years plus. In my company they started giving away $500 for 10 years service. The people who had reached this milestone were pretty happy.
Then I started thinking. Sometimes I wonder if I should keep working for a company and do my internet sites part-time, or if I should quit my job and concentrate 100 per cent on my business.
If I can expect similar growth in my websites over the next few years, I should be able to reach a decent income even in the worst case scenario. Even if I don’t have a single site that becomes an overnight success, I believe I can continually grow my income exponentially
It does take time to build your income working for yourself, but the great thing is that you are building your own income which no-one can take from you, well not easily anyway. By diversifying, building different websites, with different income sources and reinvesting profits in other businesses, stocks and property you are actually building your own wealth with your own income.
Now if someone works for a company for 10 years, what happens when they leave? Of course they got a guaranteed salary over that time, but the salary stops the day they stop working for the company. The company continues to benefit from the time and effort the employee put in, but the employee has nothing to take with them. Of course there are pensions and stock options for some people, but it is nothing like the continual income that you can expect with running passive income generating websites.
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6 Responses to “Working for yourself versus working for a company”
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Exactly why I quit and I’m doing my sites full time now.
Thats how I feel. If I was working for someone else I would be making them money. Sure if I had some great idea I might get a bonus but it would be nothing compared to what I would have made myself.
Yep, true. Business and Invesing are far better than Empolyee. in the Rich Dad, Poor Dad books series the author talks about it a lot.
A.H
I look forward to opening up your blog and reading you quit your day job to become self-employed. I always look at it with the perspective that if x revenue can be generated part-time just imagine how much revenue could be generated full time. ESP with the use of freelance help and whatnot.
I am hoping I can earn a lot more. It is also a matter of setting goals, sticking to them and not wasting too much time on things like forums!
[...] It kind of relates to what I tried to write in my own post on working for yourself versus working for a company. [...]