I just posted this as a comment on someone else's site in response to their suggestion that self employment was fantastic. I kind of liked the metaphor, which is why I am re-posting it here:
I was a rising corporate star, then in 2001 I was gripped by the entrepreneurial myth. I set out on my own and swiftly gave birth to an elephant.
Phase 1 - When the elephant was born I was bigger than it, could see a great future with it and foresee no problems. The only snag was that I didn't have any skills in managing elephants - I knew how to do what what elephants did, but not how to get them to do what they did, but I thought that this wouldn't really be a problem and off I went.
Phase 2 - The elephant soon grew much bigger than I was. I was no longer strong enough to control it and it took over my whole life. It pulled me along, wreaking destruction in its wake. Standing behind it, it blocked my whole vision and I could neither see nor know where I was going. I was so preoccupied by being dragged along by it that I thought that there is no way to ever bring it under control, it ruined my and my family's life.
Phase 3 - I was trampled under the feet of the elephant and came around in hospital in 2008 suffering a nervous breakdown. The elephant continued (and continues) to thunder forward, but it was stolen by those I trusted with it when I was injured.
Phase 4 - My health has been ruined, my finances have been atomised and I have lost everything I ever loved. I work a minimum wage job lifting boxes for an international retailer earning in a year less than I did in a month in 2001.
Would I personally become self employed again. I don't think so!