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job v self employed

I have been my own boss for the last several years but I'm not an entrepreneur.  I did this because I needed the flexibility to care for a family member who has since passed away. The business always made money but I have never really marketed it.  I don't exactly know how and it is a challange I don't enjoy so I avoid it.

I have an opportunity to meet with a professional friend to talk about going to work as an employee of his company.  While I like the idea of a steady paycheck, b/c he & I are the same age & some of the other owners are younger than me, I feel like accepting a job makes me a failure.  I don't have the #s (profits) to even ask to come on as a partner. 

What do you think?  Has anybody gone from being self emplyed to going back to work?  DH & I were talking about taking a long vacation in January which we won't be able to do because I won't be entitled to that much time off at that point.  Not having to do everything -- marketing, the work, accounts receivable, accounts payable, IT, HR, etc. -- all by myself but rather having other people to handle all of those responsibilities is very attractive.

I'm torn & a bit scared.

Re: job v self employed

  • Unless you are making significantly more than you are being offered, I'd jump on this. Not only are you looking at not having to do all of the "extra" stuff, but you won't have to pay self-employment taxes anymore or have the same liability. The downsides, to me, are just a normal part of holding down a job and NBD, but that's something that you have to decide for yourself, of course.
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  • I'm self employed and it's one of the best decisions I've ever made.  That said, I kind of like the challenge of building a business.  I'm also very serious about marketing, and work with a consultant to help me meet marketing and other business goals.  For me, the benefits outweigh the negatives.  It's a pain to do my own bookkeeping, and right now I even answer my own phone, but the business is growing and eventually I'll be able to hire people to take care of these things.  I can also make a heck of a lot more money with my own business than I would working for someone else.

    All of this said, there is absolutely nothing wrong with going to work for someone else, and it definitely doesn't mean you are a failure.  Not everyone has the personality or desire to get out there and market.  Knowing what you are going to make every month is certainly nice, as is actually getting benefits like group health insurance.

    Make the decision that will make you happiest and don't worry about what other people think. 

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