CMU School of Drama

Saturday, August 02, 2014

Self Employed or Business Owner?

LinkedIn: Have you ever asked yourself if you run a business or if you are self-employed, a freelancer, or a consultant? Is there even a difference between self-employment and business owner? To answer your question, I will like to pose the following questions:

  • Are you able to walk away from your business, do nothing and still earn money?
  • Do you find yourself working more as you become “more successful”? 
  • Do you feel you are enslaved to your business? 
If you answered yes to any of these questions then you are self-employed and not a business owner. But what really is the difference between self-employment and business ownership?

1 comment:

Jonah Camiel said...

Being a business owner and being self-employed are too completely different things as this article states. The thing about being self-employed as is talked about in the article is that you are not financially independent yet. I say yet because our lives goal is to at some point be financially independent or in common vocabulary, retire. To be able to retire you have to have earned enough money in your career for your assets to be able to support you on a day-to-day life. In this time period, that age tends to be around 60. It is just comfortable living, it is not struggling and it is not indulgence. Being financially independent is just having enough money to supports yourself and what you need. It is a lot easier to become financially independent as a business owner than it is when you are self employed and on average it tends to happen a lot faster just because of the true nature of the job. Do whichever works for you but just keep in mind that the end goal is to be financially independent.