CHAPTER 28. BENEFITS OF SELF-EMPLOYEMENT
- Madhukar Dama
- Feb 24
- 3 min read
from our upcoming book Our Secret Book of Benefits
I am not against employment. Personally I found self-employment is better for me.
Through self-employment, I have eliminated all the troubles associated with a 9-5 job, like:
Limited Flexibility:
Fixed Schedule: I was typically bound to a set schedule, often with limited flexibility for personal appointments or unexpected events.
Limited Control Over Work: I had limited control over my workload, deadlines, and the types of projects I could work on.
Difficulty Taking Time Off: Taking time off, such as vacations or sick leave, was sometimes challenging, require approval or plainly impossible.
Job Security:
Risk of Job Loss: Job security was never guaranteed. I could have been laid off, downsized, or fired for various reasons.
Company Reorganizations: Companies may restructure, leading to changes in roles, responsibilities, or even job elimination.
Limited Earning Potential:
Salary Ceiling: My earning potential was limited by my position.
Dependence on Employer: While working for Private Sectors, my income was dependent on my employer's financial success and willingness to provide raises.
Stress and Burnout:
High Pressure Environment: All jobs involved high-pressure situations, demanding deadlines, and intense workloads.
Lack of Control: Lack of control over my work environment and workload lead to stress and burnout most of the times.
Office Politics: Navigating office politics and dealing with difficult colleagues was disgusting and stressful.
Commuting and Travel:
Time-Consuming Commutes: Commuting to and from work was time-consuming and stressful, especially in congested areas.
Travel Demands: Some of my jobs required frequent travel, which disrupted personal life and caused fatigue.
Lack of Control Over Career Path:
Limited Advancement Opportunities: Career advancement was slower or limited.
Dependence on Employer for Training: My career development was dependent on the employer's willingness to provide training and development opportunities.
Burnout and Job Dissatisfaction:
Repetitive Tasks: Many jobs involved repetitive tasks that were monotonous and unfulfilling.
Lack of Meaning or Purpose: The Government jobs were meaningless and shitty. Except attendance, casteism, politics, rat-race and infighting, I did not find anything happening there. The designated work was a minor component of actual work taking place.
This list is not exhaustive, and the specific disadvantages of having a job will vary depending on the individual, the specific job, and the company.
After working in different jobs, I settled with Self-employment, as it offered unique set of benefits like:
Freedom & Flexibility:
Be Your Own Boss: I am the ultimate decision-maker, setting my own schedule, work style, and priorities.
Flexibility in Work Hours: I work when I feel like and don't work when I don't want to.
Location Independence: I live where I wish to now. It is not determined by my employer.
Financial Rewards:
Unlimited Earning Potential: My income is directly tied to my effort and success.
Tax Advantages: I am able to deduct business expenses, which lowers my tax burden.
Build Wealth: I have a potential to build wealth around my business. Though, I have settled to live with simplicity.
Personal Growth & Fulfillment:
Pursuing Passion: I built a business around my passions and interests.
Increased Creativity & Innovation: I have the freedom to explore new ideas and innovate without limitations.
Sense of Accomplishment: Building a successful business from the ground up is incredibly rewarding.
Personal Development: I gained valuable skills like problem-solving, decision-making, time management, and marketing.
Work-Life Balance:
Flexibility improved work-life balance, allowing me to prioritize family and personal commitments.
As I had an option of living as "an employee and struggle" or live as "a self-employed and be free" - I chose to be free.
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