Leaving behind the comfort and familiarity of a regular job and a reliable paycheck is a daunting prospect for many budding entrepreneurs. Indeed, the fear of becoming self-employed often scuppers many great, profitable ideas. Yes, there is no denying that being self-employed has its challenges and that not everyone has what it takes to grow a successful business. But if you feel that you have a great idea, are persistent, determined and resourceful, then being self-employed offers a potential lifestyle you’ll never realize as an employee. What follows is a list of 10 of the biggest benefits of stepping out of your comfort zone and becoming self-employed.
1. You control your life
Many entrepreneurs are the type of people that like to take control and make decisions. As a self-employed business owner you have the freedom to make decisions that shape the present and future for yourself and your family. Your destiny is in your own hands. As an employee, however, your financial status is intrinsically linked to the success of your employer.
2. You get to choose your hours
Being self-employed means you get to choose when you work. Rather than being contracted to set hours, you can start as early or late as you want. Although this inevitably provides a much desired level of flexibility, the self-employed entrepreneur must be disciplined in order to run a successful enterprise. Balancing work and family life can be difficult, but running your own business affords you the ability to take time-out when needed. As long as you’re realistic and don’t award yourself too many vacations, a well-run business provides many lifestyle benefits you simply don’t get as an employee.
3. You get to work with people you like
When you’re an employee, you work with people you like and others you very much dislike throughout your career. As an employee, you don’t get to choose whom you work with. If you don’t like your co-workers, tough. But that’s not the case when you own your own business. You get to make the decisions about who to hire and fire, and you can build a team aligned to your personality and goals.
4. You get the rewards
Sure, as an employee you’ll get paid overtime for putting in the extra hours. But you’ll rarely get a share of the profits generated from that work. Whereas when you’re self-employed, you get to see the financial results of your hard work. Yes, starting a business is never without risk, But if you get it right, the rewards far outweigh that risk.
5. You can follow your passion
If it’s just about the money, forget it. The most successful business owners are rarely purely motivated by money. Invariably, they love their product or service or just love building a business. They want to make things better, cheaper or easier. Being self-employed helps you escape the trap of working in a job you hate and allows you to turn your passions into a business.
6. You get to live a varied life
Honestly, I don’t think I could ever go back to punching the clock for an employer. Arriving and leaving at the same time each day. Knowing exactly what each day will hold. Is that in any way exciting or inspiring? Being self-employed is often like being on a roller coaster. No day is ever the same. You’ll get used to dealing with orders, accounts, sales, complaints, celebrations and bereavements all in the course of your working days. It’s rarely dull…
7. You create
Being creative is uniquely satisfying. The very best entrepreneurs are often creative people with a desire to solve problems and make life better. In fact, the actual process of building a business is creative in and of itself. When you own your own business, you get to shape the dreams of yourself and others. You’re always building.
8. You get to help people
Being able to help people is one of the main benefits of being self-employed and running a business. Even a very small local business helps people by creating jobs and supporting a community. Maybe you’d love to create a program that improves education among children? Or create a service that improves the lives of local families? Owning your own business can help you achieve these goals.
9. You can make a stand
Being self-employed means you can stand up for what you believe in. Not only do you get to build a business that provides a product or service that benefits others – you are also able to create a vision, goals and an ethos that inspires those that you employ and serve. You can truly change people’s lives.
10. You are rewarded with self-fulfillment
What if you never took that step? What if you let a fear of failure condemn you to a life of mediocrity? If you find yourself dreaming of running your own business and of making a difference, you must not let anything stand in your way. The lessons you learn and the pure sense of self-fulfillment trump any fleeting fears or failures. It’s a journey truly worth taking.
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