Welcome to Car Talk. This is not talking about cars, this is talking inside of a car. Today’s topic is about are you really ready, willing, able to be self-employed. And there are a wide variety of topics that can apply to this, things that I could spend a whole series about. One of the ones I wanna talk about today is risk. Most people that have regular jobs have a regular paycheck. Now oftentimes you might have some weeks higher, some two week, month, however you get paid, higher or lower than others, but it’s similar. You kinda know what to expect every time. And when you enter the self-employed business owner world, that is not the same thing at all.

Because sometimes you make twice as much as you made the year before, which is unrealistic in most jobs that people have. But some years you might make half as much. Sometimes if times are real rough where you’re doing some execution of some big changes, you might break even. You might take a loss. And that is a risk you take when you join the self-employed business owner world is that your pay might fluctuate. And yes you get a lotta the upside, but yes you get a lot of the downside. If you’re a teacher, a fire fighter, some office job, some analyst, whatever the case may be, any number of quote regular jobs, there’s a very unlikely chance that in the next year you’re gonna make twice what you make this year.

That’s unlikely. It’s also very unlikely unless you get fired or demoted, which is might happen, but it’s also unlikely that you’re going to get paid half what you made last year. That’s also unlikely. It’s also very unlikely that you’re gonna go to work full-time and owe money. Show up to work, here’s $100, see you tomorrow. (laughing) You don’t, that’s just not how it works. And that’s what’s, sorry there’s traffic here, may pay attention, gotta be safe here too. Why they’re not going I don’t know. But there’s risk in the business world. There is a lot of risk, and you might make a lot, you might make a little, but if you’re the kinda person that needs a steady paycheck, then being self-employed business owner is not for you. That’s just reality. Right or wrong, that’s just reality. There are mountains of upsides, and there’s trade-offs, but risk is a part of the game. It’s a part of the game. And if you’re not ready for that kind of risk, you are not ready to be self-employed. Car Talk, Tyler Douthitt.