Page 77 - Benjamin Franklin\'s The Way to Wealth: A 52 brilliant ideas interpretation - PDFDrive.com

34 DIY

For every corporate raider there are hundreds of Dilbert drones whiling
away their days in the bowels of big business dreaming of better things.
So get out there and work for yourself. As the man said: ‘if you would
have a faithful servant, and one that you like, serve yourself.’

DEFINING IDEA…
Sexual harassment at work…is it a problem for the selfemployed?
~ VICTORIA WOOD, COMEDIAN AND WRITER

Working for yourself is something everyone has daydreamed about.

Well, everyone with a boss, anyway.

In our dreams it is the perfect way to wealth—a path uncluttered with
office politics and the blinkers of others. As selfemployed people, we
picture ourselves as the ideal combination of worker and employer rolled
into one, free at last to work how we like and achieve our goals.

The reality isn’t always so sweet. Selfemployment often means working
much longer hours and with little or no guarantee of regular income. You’re
also going to have to sort out your own sick pay, pension, tax and probably
VAT. Because if you don’t then you have a rude awakening coming your
way.

If you can possibly manage it, then the best way of setting yourself up in
business is to start from a position of employment. All too often people try
to start up on their own as a result of being made redundant or failing to
get a job they applied for, and while a lot of these are successes it’s not the
easiest route. Instead test the waters before you make the leap and prepare
for your new life financially and mentally.

Sort your finances out first. There are no businesses free from overheads
and it pays to find out what your outgoings are and what can legitimately
be claimed back from tax. Which brings us to point two—get an accountant