Challenges in operating a IT Business
Sometimes we might think that having a business can be the best thing. But sometimes that makes us realize that business is not for everyone and it is good to work for someone rather than work as an individual. A few factors must be considered before we decide to start our IT business. This article is not to just scare about all the negative aspects of running our own business but to understand the risks involved. In spite of these challenges, so many people find it successful.
Job security
If we are running our own business, we will not have job security. If we are dependent on a product or if we are dependent on doing some service, we have to be sure that we have regular projects coming our way. If we don't have projects coming our way, we may not be able to find job security there. Working for an Employer gives job security. In cases where if there is no project available or if the project is not running as heated as it should be, we will still be getting our salary. This is what job security is all about.
Attending interviews
If we are working on our own, there can be cases where we get hired as a contractor. Even in that case, we have to attend interviews and go through those interviews. Unlike people who are working on a full-time job, contractors will have to keep switching and they might have to keep giving interviews which is the most difficult and frustrating thing. The main reason is that sometimes the interviews can be very difficult and if we are not very strong on certain concepts, it is very unlikely that we may not get a job.
Doing frequent interviews will also not guarantee the job for us and at that time, we might end up compromising on our salary. The salary may not be set in stone and we have to keep going up and down with our salary. This is the thing with IT business on our own. If we have concrete clients, we might get income continuously.
Staying up to date with the trend
Sometimes we have to keep ourselves up to date to get some business. Not just IT but it is the case for any business. If at some point AI-based works are the most paid ones or if there is a huge demand for ML-based jobs, then we have to equip ourselves on that, and every new work we try and get will expect that from us.
Sometimes if we have a product, we have to keep it up to date with the trend and technology. These days many companies have already started integrating AI into their products and that has become a selling point for them. If we are running our own business, we have to also spend money on taxation and stuff which keep changing from time to time. This will also make us stay up to date with the trend.
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Not everyone can have a business. I know someone who has tried various business and they are not working for her
The next plan is to try get a job
That should work
I have always say it that not everyone is actually ready to run a business because it is not everyone that have the skills to run it
You are totally correct
Not everyone can run a business
It is sometimes better to work under a company instead of running a business
👏 Keep Up the good work on Hive ♦️ 👏
❤️ @bhattg suggested sagarkothari88 to upvote your post ❤️
Honestly speaking it depends on your personality as a person, I usually call IT businesses Gig work as they get paid reasonably when they find a client and thier pay is negotiable unless they work for a company which isn't the focus of this article.
I do agree with all your point above, I will just add to counter those points above you will need a good Finance management and Time management to keep on reinventing yourself while making sure your pay lasts to you get another gig, it's a very challenging process nevertheless. Wishing you a good workweek it's never to late to get the big fish.
Thanks for the wise words. I agree with your points. It's never too late to get a big fish.
It’s true that owning a business comes with its own set of challenges and stress. It's important to balance the dream with the reality and remember to prioritize self-care along the way.