The Benefits of Starting Your Own Business

While there are oftentimes disadvantages to starting your own business, the many advantages of doing so should not be overlooked.  Entrepreneurship can be a satisfying and rewarding experience for individuals in the business arena.  With the right blend of education and work experience, entrepreneurs can start thriving small businesses and grow them into well-run organizations.  Those who are looking for a lifestyle change or change of pace in their corporate lives may want to consider starting their own businesses.  And whatever the reason, these businesses may afford their creators many advantages in their work lives.  So what are some of the benefits of starting your own business?

For starters, you get to be your own boss.  If you’re tired of being managed by others and told what to do and how to do it on a daily basis by someone ahead of you on the corporate ladder, starting your own business may be a good idea.  In doing so, the only person you answer to (besides your customers and clients) is yourself.  Being your own boss affords you freedoms you might not normally receive in a corporate nine to five job.  You are able to implement your own plans, go with your gut and live by your own rules.

You get to do what you’re interested in.  Maybe you’re sick of doing something you’re not passionate about and so in starting your own business, you oftentimes get to do what you love and go after your passions.  Provided you’ve done your homework on the market, you can turn a hobby or interest into a profitable enterprise.

You can set your own deadlines.  While you still have to meet the demands of your clientele, you can work at your own pace and by your own timetable.  Of course, you can’t just lie around all day watching your favorite television shows in your pajamas – you have to be self-motivated – but nonetheless, you have more freedom to work as you please.  Entrepreneurs don’t have to feel the pressure of clocking in and clocking out daily.  You can work nights or weekends and still have time for family and friends.

Getting creative.  “Being an entrepreneur gives you the freedom to express yourself and develop your concept any way you choose.”  You can follow your instincts and work outside the box.  You can follow your heart and come up with new ways of doing things.

It’s not as hard as you think.  While of course there are many roadblocks in starting up a new venture such as getting funding, finding clients and either a niche or broad market, if you set your mind to it, the possibilities are endless.

It can be very profitable.  It’s not only big corporations that pull in big profits.  There are countless stories of entrepreneurs landing a solid idea and exploiting it for large financial gain.  And from a purely selfish point of view, you get to keep more of the profits if the business is your own.

Starting your own business also means you can very often cut your commute.  You can work from home or pick an office location that is easier to get to.  This means better quality of life and more time for personal interests, family, friends and personal pleasures and hobbies.  Not having to deal with the headache of public transportation or long driving distances is a welcome reward to owning your own business.

You get to build something.  Starting your own business can be very rewarding as you grow it from the ground up.  You get to make your mark on the corporate world or even grow it into a family business that you can pass down to your children when the right time approaches.

Hiring decisions are all your own.  When you own a business, you’re the boss and you get to decide who comes on board and becomes part of your team.  You get to shape the corporate culture of your own working environment.

Freedom.  “The business owner who creates their own workplace benefits greatly from having a sense of freedom that some might not in the traditional work-for-employer workplace.”  As an entrepreneur you can make your own rules, set your own hours and set your own salary.

Control.  Starting a business from the ground up allows entrepreneurs to have control over where their business is located, what the firm hours are, who to hire and what sorts of products or services to sell.  “The control allows the owner to really focus on what is good for the business, employees and self.”

Lastly and quite possibly most importantly, starting your own business affords for professional growth.  Entrepreneurs get to try their hands in all aspects of the business from marketing to sales to business development.  This gives business owners the ability to be more creative and become involved in the whole process of starting a new venture.  This can also lead to more business opportunities in the future as entrepreneurs learn all facets of their own businesses.

Here are some articles you might want to check out about the benefits of starting your own business:

“Benefits of Starting a Business”: http://www.bizfilings.com/learn/starting-business-benefits.aspx

“What Are the Benefits of Starting My Own Business”: http://www.nolo.com/legal-encyclopedia/evaluating-business-idea-faq-29068-4.html

“Advantages & Disadvantages of Starting a Business from Scratch”: http://smallbusiness.chron.com/advantages-disadvantages-starting-business-scratch-816.html

Until next time...