Why start your own business
Deciding to start your own business is a leap of faith. It requires pushing yourself out of your comfort zone and trying something new. If that idea excites you, why wait around? It’s a lot of work and there are some risks, but the potential rewards are huge. If you’re not convinced yet, here are some of the best reasons for starting your own business:
Each day at work will be motivating
When you are working for someone else, it can be tough to find the motivation to do the best possible work. No matter how much work you put in, the owners of the Company will get the ultimate rewards and if it was your own business it could be you.
You’ll be following your passions
Many entrepreneurs start their own business to follow their dreams and fulfill their passion. Following your dream will fulfill you in a way that working for someone else may not do. You are in charge of creating your business from the ground up, so you could be creating a legacy.
You can support others
One of the most fulfilling parts of becoming an entrepreneur is being able to support your favourite charity or local community projects. Whatever your passion may be, you will be able to support and possibly participate in it and hopefully make the world a better place.
You could become rich
While it’s true that getting your Company off the ground can take grit and could result in some lean times while you’re getting started, the ultimate goal of being your own boss is financial independence. With will, determination and hard work there is no cap on how lucrative your own business can be.
You can control your lifestyle
Starting your own business can give you a more flexible lifestyle and schedule so you won’t feel like you are running around in circles on that corporate hamster wheel. You can schedule your work around your lifestyle, no-one is looking over your shoulder. A flexible schedule may not happen immediately, but work hard and it will.
You can start from scratch
This is your business! You make the rules. You’re not restricted by standards and procedures someone else has devised. You can do what you want and build your Company according to your own ideas. Many entrepreneurs say once they have been their own boss they’d never want to work for someone else again.
You’ll get tax benefits
Starting your own business takes funding and it may take some time to make a profit and because of this you can start taking advantage of some substantial tax breaks right from the start. Get yourself an Accountant, they will guide you with how to set the business up and how to benefit from tax relief from any government grants that are available.
You’ll have true job security
The stress of climbing the corporate ladder is real. You never know whether you’ll be promoted or whether you’ll be sacked. When you start your own Company you are investing in your future and in your own job security. Your destiny is in your own hands – no more layoffs in your future.
You’ll become an expert in many skills
Part of running your own business is learning to wear lots of different hats, especially early on. You’ll have to pick up lots of new skills, from HR decisions to inventory management to customer service. You’ll become a pro at a variety of new skills you’ll learn on the job. You’ll know how every tiny aspect of your operation works. You can’t get that kind of experience anywhere else.
You can be creative
It’s up to you to decide what your business will produce, sell, or which service it will offer – that’s exciting. Rather than following the formula of those who came before you, you have the chance to develop a concept or an idea that nobody else ever has. Even if you stay mainstream with your product or services each day as an entrepreneur will allow you to find new, ‘outside – the – book’ ways of doing things.
So to finalise, knowing that each day brings new challenges, exciting opportunities and a chance to engage your passion is reason enough to start your own business. Knowing that you’ve decided to take control of your own future is empowering. What are you waiting for?