My advise is, if you are already a boss in your own right, don’t consider being one yourself. Like foe example, you are already the head of a certain department or the manager of a multinational company, or even if you are a senior executive who has managing powers, you are already a boss in your own right. If you are at that level, your pay won’t be too miserable either so there is no need for you to consider becoming your own boss.
Of course lot still consider working for themselves are far better than working for others. They get to keep what they make while is they are working for others, they can make millions for their company but at the end of the year, they will never get to share the profit other than maybe a generous year end bonus from their boss. So they feel their contribution not really appreciated. They will think that if the company belonged to them, they can really see the fruit of their labor. However bear in mind that if the company looses money, they will still be getting their monthly wages. Maybe the year end bonus will be less, but still you are being paid. If you were the boss, you might even have to forgo your own salary to cut cost.
Of course becoming your own boss means the sky is the limit. You can expand into places that you will never dream of if you were working for someone else and you might make more hundreds times more than when you were managing the company. That’s a calculated risk that one will have to take if one decides to become their own boss. You control your own destiny. You might make it big or you might fall flat and loose everything. That’s why people who goes into business must be risk takers. If you are one that wants a stable income with no major disturbances in life, becoming your own boss is not for you.