Loic Savage on the Merits and Demerits of Being Your Own Boss

One of the biggest reasons entrepreneurship is so popular is the aspect of being your own boss. Surely, it’s a great concept, but does the reality live up to the hype? Social media influencer turned entrepreneur Loic Savage shares the pros and cons of being one’s own boss, based on his own experience.
Loic Savage, a Cameroon native, always wanted to work for himself. He did 9-5 jobs but working for others was not working for him. Like many others, Loic Savage turned to the financial opportunities the Internet has to offer. He soon became an Instagram and YouTube influencer before setting his eyes on e-commerce. Today, Loic Savage has multiple Shopify stores and is about to launch his own company in less than 2 months.
When he immigrated to the United States, Loic Savage didn’t have much at his disposal. It is his passion for entrepreneurship that has made him a self-made business figure. Unafraid of the necessary risks to run an organization, Loic Savage was more than willing to put forth the planning and commitment to achieve his goals. While he admits the start-up phase was tough, Loic Savage feels that the pros of being your own boss far outweigh the cons.
The first pro was being in charge of everything. He was not content working for other people, and he finds great satisfaction in working for no one except himself. His Shopify stores mean he can work any hours he wants and from anywhere he wants to. The thought of running a fully automated e-commerce business from an exotic beach is indeed a very appealing one! Job security is equally alluring because no one can fire you. Furthermore, you can build your own team, an element critical to Loic Savage as he places tremendous emphasis on trust.
Now for the cons. You will not have a steady paycheck and if you want health insurance, you must seek it out on your own. Any retirement benefits will have to be handled by a third party, which is an expense in itself. The other question is whether you are qualified to run a company. Savage does have an advantage in having a business degree, but people need to understand the day-to-day operations of running a business, including the financial aspects. While you can choose your own hours, you will inevitably be stretching a lot, at least in the first year. If you don’t have a team, you will have to take on multiple roles, even the grunt work. If you’re having a bad day, the frustration can never be taken out on a client. If that happens, be prepared to deal with the repercussions.
In weighing the pros and cons of being his own boss, the pros were a clear winner for Loic Savage. Due to the nature of his business and his education, he has created a manageable yet very profitable enterprise. At the current volume, one person can easily handle all aspects of Loic Savage’s enterprises. As business grows and scales, he is confident that he will make the right decisions along the road to success.