Advantages and Disadvantages of Having Business

In Robert Kiyosaki’s Cashflow Quadrant, one way to escape the rat race is to become a big business owner. And before you can make it big, you have to start from small. Take note that being an employee, you are not making yourself rich but your employer.

So are you planning to establish your own business? Are you willing to take that risk? Before jumping into that conclusion, here are some of the advantages and disadvantages of having a business:

ADVANTAGES:

  • You are your own boss.
  • You have the freedom and luxury of time.
  • You do something that you really enjoy.
  • You are not compelled to follow company rules.
  • You can fulfill your dreams and become wealthy.
  • You can employ jobless friends, relatives and other colleagues.
  • You can meet more interesting people.
  • Some fo your current personal expenses can be tax-deductible.

 

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DISADVANTAGES:
  • You will have several bosses, which are your clients.
  • You risk your health becasue of stress and long hours of work.
  • You will mo longer receive regular paychecks and other benefits from your company.
  • You will incur more unexpected expenses.
  • You necome a sub-collector of the government for income and other taxes.
  • You have to file a lot of papers with the government.
  • Your risk losing your money invested in your business.

Viewing the advantages and disadvantages of having a business above, are you ready to take that challenge to escape the rat race? Ask yourself.

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