Another long day at work? Building someone else’s dream with all of the stress and none of the rewards coming your way? Calling time on working for someone else is something that almost all workers are tempted by at some point in their career, yet a combination of fear and a lack of motivation prevents most from actually taking the plunge. It’s easy to worry that running your own business could easily go wrong, and that it might simply end up being more stress and worry than it could ever be worth. However, there are countless benefits to running your business which will far outweigh the possible down sides. Here are the reasons why you should be joining the thousands of people now starting their own business every month:
Embrace your passions
The real drudgery of a traditional job comes when you are stuck doing something which doesn’t stimulate you intellectually or creatively. This is a huge problem for many people who now just associate work with being a terrible and draining thing. It doesn’t have to be though! The real beauty of starting your own business is that you choose what it will be, so you can follow your passions and make sure that your work interests you.
When running your own business you will often need to do multiple jobs at once. You will need to be the marketing department, the IT department, human resources and everything else! Being forced to learn about things you wouldn’t have otherwise is a huge benefit of striking out on your own. No matter what line of work you’re in you will need to learn your fair share about Local SEO in London and other such web topics. These can come in very handy, and even if your business doesn’t work out these skills can make you a more marketable employee.
Become an expert
The longer you are in business in any given field the more this seems like a genuine benefit. Through social media and blogging you can now leverage your knowledge to become a recognised expert and to avoid some common mistakes in your business niche. In turn you can promote your business and help share the knowledge with up and coming entrepreneurs in your field – which can be very satisfying.
Extra free time
In the beginning this probably won’t apply, in fact you’re more likely to be working more hours than in a standard 9-5 job. In time however, as the business develops, you can take control of your schedule and delegate tasks to free you up to spend less time actually working. This potential is one of the biggest draws of the entrepreneur lifestyle.
You will have a story
Running your own business means that whenever someone asks what you do for a living, you will always have an interesting response. People are always keen to hear about business owners, and no doubt you will have an interesting tale or two come out of your time in business. In other words, it’s far more interesting than working in an office cubicle all day!
You will feel a little bit of this every time you tell that story to people. Building your own business from the bottom up will provide an enormous sense of pride in all of its successes. Following through on your own personal vision and having it work out is a million times better than simple carrying out a series of requests for an employer, right?
You’re not chained to the desk
As the one who is in charge, you don’t need to report to the office everyday like a mindless drone. You can work from wherever suits you best – that might be the local coffee shop, your home office, a local library or any number of places. Nowadays the options are really only limited to where there is a serviceable Wi-Fi connection! In the early days of your business, being able to work from home can also be a great cost saver.
This is a huge reason why anyone decides to set out on their own. Have you ever been fired or laid off due to company downsizing? It is brutal and often unexpected. If you are running the whole company then you are in charge of your own destiny and don’t need to worry about suddenly getting the boot.
Not having to rely on someone else paying your wages at the end of the month can be a huge freedom. It is scary no doubt, but being 100% in control of your own finances is liberating. It can also make it far easier to manage in terms of savings for the future etc – get an accountant like Square Accountants to help out or send you on the right track.
As an entrepreneur there is always room to reinvent yourself. Plenty of successful entrepreneurs have built empires from starting businesses and growing them to a sustainable level before selling them for a profit and starting again with something completely different. That’s the kind of creative freedom which does not come with a traditional job.
It has never been cheaper
Starting a business is now incredibly cheap if you can do it the smart way. Company formation can be done for as little as £13.99 and the cost of technology is always lowering. For most companies there will be the option of working from home so there will be no need for expensive premises either. This is why more and more people are starting up. It also means that because of the low investment there is very little risk associated – so what do you have to lose?
There are numerous options too – from sole trader, to limited company to more niche areas such as franchising, there’s plenty of choice and each fits a certain need. Sole traders enjoy the freedom of it as a structure, while people that take on franchise enjoy the structured tried and tested approach it brings. So, whatever you want there’s an option that fits.
Reaching customers is easier than ever
It used to cost a fortune to try and get your brand out there and reach a potential customer base – no longer is this the case. Now you can use social media to target a specific customer base and find the influencers in your niche who can get the word out there to the customers who may actually be interested in your product/service. This doesn’t require a huge marketing budget but simply some investment of time and research along with some basic web savvy to find the right people for your business. Finding a brand ambassador of note early on can be the thing to really make a business. Of course, you don’t need to use the web to reach customers, there are plenty of alternative ways to do so – direct or door drop marketing campaigns or the Post Office work
Skilled workers are everywhere
Although the economy may be starting to recover now, there is still a huge number of people stuck in unemployment. Not only does small businesses help fuel economic growth but they can help to put people back into work – and many of those struggling are skilled workers and fresh graduates with a range of skills which be massively helpful for a startup. On top of this it’s now easier than ever to find skilled freelancers and contractors to help on an as required basis.
Cut the commute
If you choose to operate your business from home then you can seek blessed relief from the hell of the rush hour morning commute to the office. You can simply get out of bed and stroll to your home workspace. Or even if you’re not working from home – you get to choose where and when you work. Make it local and avoid the rush hour. Running your own business is a decision that could pay off every single morning.
You can create jobs
As well as providing a job for yourself there is also the potential that your business will grow to the level where you need to bring in some extra staff. This allows you to provide jobs for people and gives you an opportunity to be the kind of boss you always wanted! On top of that you can inspire those people to push their talents as far as possible.
Create a legacy
Perhaps one of the nicest things about having your own limited company is that it can be passed on to the next generation – look at these Irish iBeacon companies aiming to create just that. A legacy which you can pass down to your children and build a whole family of entrepreneurs. This way your business can live on beyond you, which is nice and is something that you will never get from a standard office job.