We are seeing more entrepreneurs in the world now than there have ever been in the past. Every day there are thousands of budding individuals across the globe that wish to put their own expertise to work and erect a dream from the ground up. While this may seem a daunting venture for some, the rewards that a self-owned business can provide far outweigh the risks. So, let us examine the top ten reasons to start your own business.
Freedom
Of course, this represents the most obvious benefit in becoming self-employed. We are able to determine the size, scope and direction of our own product or service in real-time. We can decide on how we wish our unique idea to be presented, the branding we wish to use and the audience we desire to target.
Flexibility
The flexibility to set our own hours and work when we feel most productive is another key consideration to remember. However, this is a double-edged sword, for self-employed individuals may actually find themselves working harder to get the business off of the ground, and it must not be forgotten that “freedom” is not defined as the ability to relax. Conversely, one has to work hard to maintain a productive flexibility.
Finding a Balance Between Work and Life
A self-managed businessman (or woman) has the ability to balance family, friends and a social life around a business. This is directly opposite of the traditional 9 to 5 job. Nonetheless, focus must always be maintained while straddling this delicate threshold.
Choice of Coworkers
One has the ability to actively choose those who may be best for the position. Interpersonal conflicts will remain at a minimum; providing a more positive overall work environment and increasing productivity. A happy office is an efficient office.
The Ability to Set Realistic Benchmarks
Some of us may have felt that we were placed under an unrealistic amount of pressure in our previous job. Perhaps the administration did not understand our position or simply expected too much. By running our own business, we are aware of what needs to be met and how it should be accomplished. Therefore, we can set realistic yet lofty targets to achieve.
Motivation
There is no better motivator than the fear of failure, particularly when it comes down to the choices we make. Therefore, we will be much more motivated to put forth the effort needed and will not feel simply as a “small cog in a big machine”.
Following a Dream
Life is about the pursuit of happiness. Starting a business allows us to reach for our lifelong dreams and ambitions. A self-run business is a very personal product of courage and resilience, and our success directly reflects our desire to fulfill that dream.
Better Client Engagement
An entrepreneur loves interacting with his or her customers. This offers a “personal touch” that is often lacking in the corporate world. Additionally, should a customer prove to be a nuisance, they can simply be done away with as opposed to the traditional work atmosphere where they may be ever-present.
Less Overhead and Higher Profit
A self-managed business will have much less overhead and expenses than a larger organisation. Therefore, revenue can be placed directly back into the company, helping to further promote a product or service while possibly accruing a handsome profit.
Pride
Perhaps most important of all, the sense of pride from managing a successful business can be profound and can last for the remainder of one’s life.
These are ten of the most important reasons why many have already opened their own businesses. However, it must be remembered that the phrase “the grass is always greener” is applicable here. While self-employment may seem like a fun and exciting break from the normal workplace drudgery, success takes hard work, discipline, trial and error and most of all, not being afraid to fail.
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