What does being "Your own boss" mean. What the merits & demerits of being "Your own boss?"

Being a boss of yourself involves owning & runningyour own business.

MERITS

Feeling of independence.

Opportunities to use new methods & ideas.

Convenience to work.

Chance to do work you really like.

Higher social status.

Reaping full financial benefits.

Greater satisfaction from owing & running your own business.

Flexibilty & adaptation.

Easy decision making since you are the only one to decide on matters partaining the business.

DEMERITS

Responsibility of all business actions including perhaps eventual failure is yours alone.

Lack of continuity-if you stop working the business may stop & your income mat stop.

Need for exceptional will power to work deligently with full pressure without supervision. 

Your own saving is at risk.

It is harder to get employed after a long spell of self-employment.

Difficulty in handling several interlocking groups of actions at once.

Exdcution of less plesant tasks which are often non productive.