Becoming your own boss can seem like an attractive option because you get to set your own hours, you’re your own boss, and you get to make your own decisions. The reality of the situation, however, is that the majority of business owners find themselves working harder than they ever did as employees of someone else. But in spite of this extra work, business owners report feeling happier, more fulfilled and better able to meet their goals than when they were employed by someone else. Here are 10 reasons why being a business owner can improve your life.
1) A Huge Sense of Accomplishment
There’s nothing like starting your own business, working hard and seeing it grow. Owning your own business means you’re in control. You get to set your hours, manage your own finances and take pride in your accomplishments. There is nothing quite like that sense of accomplishment that comes from building something on your own—and we think everyone should give it a try!
In many traditional jobs, your schedule is pretty much set. As an entrepreneur, you get to decide what your hours are (in most cases). If you want to take Friday off to spend with family or do errands that don’t relate to your business, you can. If it’s 4 p.m. and you realize you need to pick up something for dinner, but your clients aren’t scheduled until 6:30 p.m., there’s no reason why you shouldn’t be able to run out and grab something on your way home from work, and then still have time to cook! Flexibility also means being able to adjust when life throws curveballs at you.
3) Feeling in Control
Running your own business will help you take control of your life. When you’re not working for someone else, things are bound to be more stressful—the buck stops with you. But, it also means that if something goes wrong at work, or if you fail to meet an important deadline, there is no one else to blame but yourself. These issues can cause stress and lead to poor decisions.
4) No More Working For Someone Else’s Goals
One of our biggest goals in business is to no longer work for someone else’s goals. When you run your own business, you can set your own goals and achieve them however you want. If you want to spend more time with family, that can be an option for you as a business owner. You’re in control of everything that happens in your life once you have your own enterprise because all of your income, debt and financial decisions are going to be yours.
5) Surround Yourself with Like-Minded People
Entrepreneurship is about creativity, innovation and calculated risk-taking. If you want to be successful, surround yourself with like-minded people who will support you along your journey. Entrepreneurship doesn’t have to be lonely, and all entrepreneurs deserve friends who can help them grow and learn.
6) Learn Something New Everyday
The best business owners I know never stop learning. There’s always something new to add to your skillset. Whether you’re looking for ways to improve your marketing or sales strategies, or you want some insights into what makes startups succeed (or fail), you’ll be sure to learn something by reading these articles .
7) Confidence Boosting
When you own your own business, you are in control of your life. You decide how to spend your time, how much money to make and how hard or easy you want to work. While working for someone else might help pay some bills, it will never get you anywhere close to where being an entrepreneur can take you! As an entrepreneur, you are able to choose when and how long you work—as well as what types of tasks to complete. If there’s something more important that needs your attention (family, children), then stop what you’re doing immediately. Working from home is also a great way to build confidence as well as set up yourself for success since there’s no one looking over your shoulder!
8) Having Fun at Work
When you’re working on your own business, it is all about you. Which means that you don’t have to worry about punching someone else’s time card, or waking up before everyone else just so that you can fit in with everyone else’s schedule. There is no pay more if I work more. As long as there are customers who want what you offer, work as much or as little as suits your needs and lifestyle.
9) Long Term Growth Potential
The earlier you start saving for retirement, the more time your money has to grow. And, as of late 2017, it’s never been easier to invest for retirement than it is today. Retirement savings accounts are only going to get easier from here on out. If you don’t have a 401(k) or IRA yet, now is as good a time as any to sign up for one and get started. If you already have one, consider increasing your contribution rate or starting an additional account.
10) You Have an Excuse to Buy Cool Stuff
When you own your own business, you get to spend a lot of money on cool gadgets and office supplies. You might feel guilty about how much cash you’re shelling out at first, but once you start using all that cool stuff, it won’t seem like such a waste. And if you don’t have enough work for all those new toys? Well, there are always more customers just waiting to be found. So go ahead, buy yourself something nice! It’s worth it.