Career and Enterprising

Should I be an employee, a self-employed or an employer?

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Many people aspire to be an employer as it entails freedom, independence and wealth. However, the path to entrepreneurship is hardly a bed of roses. In fact, a successful entrepreneur has to possess great fortitude and foresight in order to overcome all the uninvited obstacles coming his/her way. On the contrary, while employees generally do not enjoy as much flexibility as the company owners, they actually face significantly lower (downside) income risks. In addition, employees are often relieved of the heavy emotional and psychological burden that is tied to the complexity of overall business management.

Therefore, whether you are an employee, a self-employed or an employer, there are always pros and cons for any track you choose. At the end of the day, it boils down to what truly defines you and the resources you wield. The approach to searching for your personal identity (and supposed employment status) has thus been highly condensed into the diagram shown below.  

Click to enlarge:

employerDisclaimer: This is just for easy reference.

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