The chances of you not owning a business and seeing this blog are pretty slim, as most of our readers are business owners, but if you happen to stumble upon this article and you’ve thought about starting your own business, maybe this will help draw a little bit of inspiration. Some people “accidentally” start businesses by providing a quality service and solving a problem,then eventually having the need to expand— but others have had to make the conscious decision of taking the leap from the corporate world and finding a way to be self-sufficient. Whatever your motivation is, there are plenty of reasons as to why self-proprietorship and starting your own business could lead to a lot of life-long benefits.
1. Time: The most important and motivating factor for me was being able to regain complete control over my time and to be able to have that flexibility I’ve always strived for. There’s just something so liberating about being able to structure your day however you want, without having to check if it’s okay with a manager first. If you need to watch your son’s basketball game or fly out of town for a wedding, you are gifted with that time to be able to do so. With that being said, even though you don’t have formal management, the customer should essentially take place of a traditional boss and their time should be respected—but at least you can have direct control over customer relations.
2. Control: If you’ve ever worked for someone else then I’d be willing to wager that there were a handful of times where you’ve thought to yourself, “Why are we doing it like this? If I was in charge, I would have __________.” Sound familiar? Well as a business owner, you can satisfy a need that at one time frustrated you because you knew it could be more efficient. Having control over the functionality and operations of your business can definitely be a reward aspect.
3. Money: Owning your own business could be a little bit costly at the front end, however as you get established and build up your book of business, you’ll start to notice that little ceiling that used to frustrate you is removed. That ceiling of course is your standard pay where typically a larger business has placed a value on your time, and regardless of how hard you work, you will be stuck at this flat rate (of course I am being mindful of jobs with commission; however there is still a lower cap if you’re working for someone else). Some people handle that model better, but for many people (including myself), I lose motivation knowing there are restrictions on my pay regardless of how much energy I’m expending.
Question of the day: What do you like about owning your own business?