In our last article we talked about the benefits of starting around drone business. Starting your own business is an amazing and exciting experience. It’s not for everybody and not for every time in our lives. Sometimes it’s just better to work for someone. Maybe that better suits your skillset, or your interests, or financial situation. While today you can start a business on a shoestring budget that doesn’t mean that when you have a family and kids and the house or whatever your situation that you can afford that. Maybe you just don’t want to afford that. There are certainly reasons for everyone to want what they want and do what they do. And sometimes that just means it’s better to work for someone than start your own business.
So why we extolled the virtues of starting your own business in the last article we’re going to spend a few minutes here talking about five reasons why you might just rather work for someone. As you enter into the drone industry you have a number of options and a lot of choices to make. The cool thing is that most of these choices don’t have to be permanent. Maybe you do one thing now and something else later. You have that option as well. To changing world and a lot of things you can do.
Let’s get on with it. Here are five reasons you might want to think about working for someone else in the Drone industry rather than starting your own business.
- Less Personal Risk
Starting a business is risky. It can be financially risky and personally risky. It requires an immense amount of dedication and time. That’s especially true if you’re trying to create anything of any scale or complexity. You have to face competition with other people who are trying to do the same thing. You will almost definitely have personal financial risk. You may also have to ask others for money to help you out which carries another type of risk. Owning your own business brings with it some liability risks and other legal risks. It’s a complicated world and there’s a lot of t’s to cross and i’s to dot. You’ll be entirely responsible for all that happening correctly.
For a lot of people, obviously, these risks are well worth it. That may be in their personality or the way they approach the world or maybe just the stage of life that they’re in that they can afford to take those risks. Others of us can’t. We may have family to think about or maybe risk just isn’t in our personality. Business requires a whole lot of personalities to work and some of those people need to take risks and others need to make safer decisions.
Either way, starting your own business is personal risk. When you work for that person, however, you may have some of the risk and that you’re taking a chance on them in their business. At the same time, you are building a resume and you’re building skills and that’s marketable elsewhere. So you can work for them now and if it doesn’t work out you still have something to take with you to the next position. You didn’t risk everything you own and all your savings for risk some investor’s money that you can’t get back.
You also are more or less guaranteed a paycheck. Of course, there are horror stories out there about working for startups and not getting paid because the money wasn’t coming in. Even then you have the choice to quit.
Working for that person ships your risk more on to them and less on to you.
- Less management of people, focus more on what you love
I love managing people and building teams. There’s little else as fulfilling in my professional life as watching someone grow and develop and become even better. I I love to see a group of people uniformly dedicated to a single cause or purpose. Of course, this comes with a lot of headaches and a lot of frustrations. Not everyone shares my passion. Many people hate managing people. Perhaps they aren’t good at it or they just don’t like it. Some personalities just aren’t suited for management and they’re better suited as individual contributors. Again, that’s perfectly okay because you need different personalities to make things work.
What’s important is knowing what we like and what we don’t like; what we’re good at and not good at. If you don’t like managing people then you may not want to start your own business. In your own business you need to manage your own employees if you have any and you need to manage contractors. There are some businesses that don’t have to manage either but they’re pretty rare. If you have any hopes of getting bigger or more complicated, you will eventually have to manage people in some form or fashion. For many of us, this opportunity is exciting. For others, it’s scary or they’d rather just focus on something that they love doing and leave people stuff to others.
It may not be worth subjecting yourself to something you don’t like or you’re not good at. As Uber has recently shown us, because you’re a good entrepreneur that doesn’t make you a good manager. Eventually a business reaches a size and complexity that it needs management. Management isn’t evil, but management can be bad. For many, this is a reason to stay an employee and not a business owner.
- Don’t have to market
While I love managing people, I really don’t like marketing. No matter what you do you will always have to manage someone to some degree and you will also always have to market, whether that’s yourself, your company, or your product. That said, much like with bad management, if you aren’t good at marketing or don’t like marketing you may not want to subject yourself to that. As a business owner, you will almost become an evangelist for your product or service. Some of us, find that difficult.
I continue to practice and find a way that works for me. I will likely never be as good as some but I will continue to build and continue to grow. I prefer to approach it as I’m building a skill that I need no matter what I do. Often, though, my skills and my experience lead me to think that perhaps some days I’d be better off being an employee.
With all the hype around affordable care and this act and that act and what Congress is going to do or what Congress isn’t going to do, the topic of benefits comes up a lot. One gigantic reason to be an employee, or to keep a full-time W-2 job, is for benefits. These did include things like health benefits and retirement and all those other things that employees around the country, and probably around the world, take for granted.
When it’s your business you have to foot that bill. According to the Agency for Healthcare Research and Quality, in 2014 the average healthcare premium cost was on the order of about $5,000 per year for an individual and triple that for a family. Even if you don’t have any employees you have to pay that bill for yourself.
Now, of course, some of the recent health care changes have changed some of those numbers. It doesn’t matter which side of the aisle you fall on, they’re expensive. When you own the business you have to make enough sales to cover that. If you ever hope to have employees they’re going to want benefits as well. Without benefits it can be very difficult to recruit someone.
As an employee, it’s your employer who gets to foot most of that bill even if they pass some of it through to you.
- Don’t have to deal with all that business stuff
As we talked about in the last article, one of the benefits of having your own business is that you have to learn how a business works. For some people that’s exciting. They love to understand how money moves around and how they can make things better and grow things. For others, it’s just not that much fun. They don’t want to know all that, and they certainly don’t want to have to be bothered or distracted by it. Of course, you can often hire people to help you with the mundane piece of it. At a certain size of business you’re going to have to.
For a lot of people, they just aren’t interested in this and would rather go to work and do what they like to do. For them, having their own business is often not as attractive as being an employee.
As you venture into the Drone industry or is you look to expand your roll, you have a number of options. Two of the basic options are whether to start your own business or to join someone else’s.
Right now, there aren’t a lot of employers out there yet. That number is growing and there are a lot of jobs available. The Association for Unmanned Vehicle Systems International projects that there will be more than a hundred thousand new jobs and unmanned aircraft by 2025. At the rate of growth in the industry and the rate of capabilities are drones we may even surpass that number. So whether you wanted to be around business or you want to work for someone else or you want to try out a bit of each, there are likely opportunities out there for you. Good luck.