The Disadvantages of Being a Sole Trader
It seems like more and more people become interested in being sole traders. They are attracted not only by the fact that this is a job that can make people earn large amounts of money, but also because being a sole trader seems to offer a life without having a boss. Is there something else you can dream of, when it comes to a career?
Well, it seems that there isn’t since so many people decide to follow this path and get trained for it.
I had no idea that there are so many trading schools until I started reading about becoming a trader. I found one, the Academy of Financial Trading that offers live classes and full support and experienced educators. Take a peak at their YouTube channel to get an ideea of what trading is about. I had no idea that there are so many possibilities to study for being a trader.
To be honest, this sounds amazing and if I were a less skeptical person I would have already decided to be a sole trader but is this job is not so great as all of you think?
There is no doubt that, with professional training, hard work and a lot of practice, this job can become an amazing career that will offer you the glamorous life and the money you wanted so badly when you decided to become a trader. However, after thinking about it, there seem to be two huge disadvantages of being a sole trader, and here they are:
1. Everything rests on one person
The fact that all of us want to have success all for ourselves is true, and I can’t blame anyone for having this desire. This is why you work hard so that you can enjoy success. However, if you are thinking about becoming a sole trader, you must be very sure about wanting to make all the decisions by yourself. Making decisions can be fun and make you feel strong and important, but sometimes this is very difficult. Remember that, not only success, but also the failure of the business rest only on you.
2. Poor life-work balance
Unfortunately, being on your own brings you many advantages, but also important disadvantages. So, not only that you are supposed to make a decision, but also, all the work falls on you.
This means that, in order to build this career and business, you will have to work long hours. Therefore, the job will probably absorb all your time, and also your energy, so your life outside the job will probably be inexistent.
There are many people who, not only that they can deal with this problem, but they love it because they are fond of their job. So, this is not a problem for everybody, but only for those who actually want a life outside their job.
To conclude, I can say that being a sole trader has advantages and disadvantages, like everything in life. If you think about following this path, you should know everything that it involves and only after being informed take a decision.
The life of a trader can be amazing and glamorous, but in order to enjoy that, you have to study a lot, practice and work hard. In addition, you must put aside your personal life for a while in order to be able to concentrate on the job. It might seem difficult, and it is especially if you don’t like what you are doing. So, in order to be successful and enjoy the success, you must enjoy what you are doing, not only the amount of money you are earning.