Create Your Own Employment: Part 3

Click here to read part 1 of this post.
Click here to read part 2 of this post.

Of course, setting up your company to serve as your employment only can limit your potential. After interviewing Jim Wilkie about his company At The Docks Marine Electrical, I was convinced that he could expand either the number and types of services he offers to his boat-loving customers or expand to regions outside his local area. His service of repairing electrical problems on boats while they remain stationed at the marina is phenomenal and very marketable. However, he is currently content to remain his sole employee, do what he enjoys, and as I’ve said, make a nice salary off it. In addition to limited growth potential, other disadvantages of remaining small are that you do everything (bookkeeping, marketing, budgeting, the actual labor, etc.) and that when you stop working for your business, your business stops working for you and your income from it dries up.

In the end, it depends on what you want to get out of your business. Will you be more happy just doing what you love or would you rather put in the effort required to create a larger and (potentially) more profitable business?

Both Quantum Tutoring and Quincy Massachusetts Voice Lessons were created to give Sara and me something to do and earn a little money in the mean time. Additionally, they are giving us a platform to learn the basics of business, marketing, finances, etc. Both of us could expand, and may do so in the future. However, for now the benefits of owning our own businesses are great and we’ve enjoyed creating our own employment opportunities.

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