Why You Should Be Your Own Boss

Five great reasons why you should own a business

Some people are born entrepreneurs. They are the ones who had lemonade stands as kids and who were never afraid to try something new. They are natural risk takers.

Others spend years dreaming of owning their own business, looking enviously at others who have made the leap and are reaping the rewards. They love the idea of being their own boss but make small, tentative steps to get there.

If you belong to the first group, you don’t need us to tell you why you should run your own business, it’s what you live for. However, if you belong to the second group, you may need some gentle encouragement and reminders of why it’s a dream shared by so many and why you’ll never look back once you make the leap.

Here are five reasons why you should stop dreaming about it and be your own boss:

1. You can build a business based on your own principles

Increasingly, consumers and clients are making decisions based not just on what a business offers but also what it stands for. They want to know things like where products come from, how they impact the environment and how your business supports the community. Essentially, they want to know that the choices they make align with their own ideals.

Managing your own company means you can build a business based on your own priorities and principles, which will help drive its success.  

2. You can enjoy better work-life balance

There’s no doubt that as a business owner, you’ll be busy. But when you work (and when you play) is up to you. This is probably the biggest advantage of being your own boss. However, it doesn’t mean you can slack off, because that will directly affect your own back pocket. It simply means that you have more flexibility over your time. For example, you can schedule meetings when they suit (so they don’t clash with other priorities, like family commitments) and arrange your office hours around when you are most productive.

3. You will have more control

One of the most frustrating aspects of being an employee is powerlessness. Sure, you can influence decisions, but your ability to make decisions, effect change or make improvements is limited. Often, as an employee, you can see where improvements can be made but the path to get it done is long and winding. As the boss, you can choose what decisions are made and even whether to delegate them to someone else.

4. You can eliminate the element of surprise (well, minimise it at least)

As an employee, in most cases you gain an understanding of part of the business. As the owner, you have visibility over it all. It’s important to understand every part of your business – production processes, financials, the customers you serve, your entire business cycle. Keeping a close eye on your performance, processes and financials will help you to grow your business. It will also help you to predict market changes, and with fewer hoops to jump through, you can act quicker too.

5. The rewards - the risks are all yours but so too are the rewards

This is where some would-be business owners lose their nerve. With every business there is risk, however most business owners learn pretty quickly that you can’t eliminate risk, but you can manage it. If you have the right people, planning and processes in place, business will run smoothly. Look around, there’s plenty of other people doing it, and doing it well. And the more you do it, the better you become. On the flipside, if all the risk is yours, so too are the rewards. Besides what goes back into the business (which is yours anyway), all the profits are for you to enjoy. That’s why they say, “You’ll never get rich, working for others.”

Whatever success looks like you, owning your own business is a surefire way to get there. Whether it’s money, freedom or personal satisfaction, being your own boss is rewarding in a many ways. The sense of pride in seeing your business grow through your own leadership, skill and commitment is something you just can’t buy. Sound too good to be true? It’s not. But it is hard work.

There will be times you won’t be able to sleep at night and there will be things you just can’t do. However, the good news is there are thousands of others who came before you and thousands more who are doing it with you. There are loads of resources, services and groups that exist just to help you succeed, so you needn’t think you are doing it alone. All you have to do is ask.

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