Would being "YOUR OWN BOSS" Be More Trouble Than It's Worth?

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People talk now and then about how it's possible to be your own boss. Is this even really possible? Of course, you can be a free agent, but don't you really have to report to SOMEONE who you are serving, even if it is a customer-base? Do you think that in the end it would be harder or easier to "be your own boss?" (If easier, then why aren't there more people who are their own boss.) Feel free to answer honestly, but please don't SPAM.