You may have an idea for a great business. You may have checked all of the markets, found a spot that is underserved, and are sure you have the charm, drive, and budding technological skills to create a thriving business. But, then the fear hits. Can you really do this? What if you fail? What if no one buys your products?
The truth is, starting a business is a lot of work. It’s long hours, lots of networking, and you don’t get to spend the whole day in your pajamas. Bummer. But, and this is the real kicker, starting a business is worth all of the misery and struggle needed to get it up and going. Invest now to thrive later. Successful entrepreneurs have offered some reasons why starting a business is the right decision for you.
#1 WORK ON WHAT IS IMPORTANT TO YOU
When you have your own business, you get to put your heart and soul into the activities that really matter to you. Compared to a job that you have been hired for, the dream is your own. You are spending your time creating, marketing, and selling the products or services that release the passion inside of you. Rather than spend your days doing busy work or tasks that others may not want to do, you can focus on the work that you have assigned meaning to.
#2 LEARN MORE ABOUT YOURSELF
Opening your own business offers you a lot of opportunities to explore what you do and don’t know. There are many lessons that will be learned on the fly and you will be tasked with researching these unfamiliar areas and in the process, learning more about yourself. Not only will you learn how you work and what kind of work you like doing, you will also learn about the many ways that you can benefit your community. Your business will fill a void in your community and the wider world.
#3 MAKE AS MUCH MONEY AS YOU WANT
No matter how much money you make at your current position, there is a limit. There is a line someone other than you makes that says you can only take home this much. If you are an hourly employee, you can only work a certain number of hours. If you are salaried, you can only get that salary. When you start your own business, your income is defined by you. The only limit is how many people you can convert into buyers. Rather than be part of a company’s budget, create your own business and carve out a new number that matches your worth.
#4 CREATE YOUR OWN JOB SECURITY
Oftentimes, the scariest thing about a job is a lack of job security. Even people who have been at their position for 20 years or more have been let go. This may have nothing to do with them. The company may be going out of business or having a very poor economic year. Either way, job security is, often, not that secure, as even seasoned employees worry about losing their positions.
Starting your own business gives you more options for income and allows you to control how you create that income. Rather than having just one stream of income for the remainder of your life, you can have another, so job security can be in your hands.
#5 ENJOY A FLEXIBLE SCHEDULE—AFTER THE STARTUP WORK IS DONE
Rather than having to report to your desk certain hours of the day, when you have your own business you can enjoy the flexibility of moving around, taking your children to their activities, or easily caring for your aging parents.
This is even simpler if your business is home-based as you do not have a specific office. When you have your own business you can move wherever you would like and not have to keep looking for a new job. If your business is online-based, then you have the flexibility to travel and all you will need is an internet connection in order to continue making money.
#6 USE THOSE TAX BENEFITS
As a business owner, you can enjoy tax benefits such as the ability to write off food, cell phone bills, and travel. As long as these are related to your business, you can enjoy the tax benefits that go along with them. Not to mention, there are a lot of resources available if you have a small business that can help you build an income.
#7 TARGET AN UNDERSERVED COMMUNITY
If the service or product you want is not available, create it yourself. Every community has a piece that is missing and you can be the person to create that piece. When you find a niche in a market that is underserved or nonexistent, that is where the profit of your business resides. Not only that but you can benefit the lives of many people by filling this need.
#8 TACKLE NEW CHALLENGES EVERYDAY
Jobs, especially cubicle jobs, can grow repetitive and make you feel stagnant. Each day you may have the same routine, see the same people, and spend years never really growing much past where you were before. A business requires you to wear multiple hats, so each day you will discover and cultivate new skills. If you do not know how to market, a business can build those skills. If your communication could use some polishing, a business can also help with that.
Having your own business will require skills from you that you have not had to use before.
#9 FIND AMBITIOUS PEOPLE WITH GROWTH MINDSETS
When you start your own business you control the people you work with and hire. In order to build a successful business, you must carefully choose people who fit in with your overall culture. This is more preferable than a job where you are expected to fit into the existing culture.
#10 LEAVE A LEGACY
When you start and grow a thriving business, you leave a legacy for your children or those who are younger than you in your community. You have nurtured this business from its infancy and the next generation can lead your business. This can ensure the next generation does not have to struggle to find employment. Not only that, but you can have the satisfaction of knowing you built this business.