Is employment or self employment more suitable for me?You may already have an idea of what your aim is – whether it is to “own a business” or to “own a job”. There is no right or wrong answer in general, and some professions (such as the legal, medical or accounting professions) are usually a hybrid of self employment and owning a business, due to the common requirement of the partners in the business to provide their own technical expertise.
An indication of what may be most suitable for you can be found by working through the exercises in Chapter 2 of The Startup Coach: Teach Yourself. Some people believe that all self employed people are entrepreneurs, however this couldn’t be further from the truth! Michael Gerber, in The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, states that the E-Myth is actually the myth that all business owners are entrepreneurs. What you do need to consider though is that your personality type will indicate where your skill-set lies – if you are naturally inclined to enjoy technical work and detest managing people, it may be that becoming a self employed professional is more suitable for you than employing a large team.