Having a stable job comes with a number of enticing benefits. A dependable income, healthcare and insurance perks, paid holidays, bonuses and so on. But many people still experience a feeling of emptiness when working for a boss. Perhaps it’s time to realize your dream of running your own company.
Granted, there are many risks and potential downsides to starting a business. But this largely depends on how you plan your approach. Becoming a successful entrepreneur involves hard work and careful decision making.
There are currently over 28 million small businesses operating in the US, roughly 22 million of which are individually operated. Many of these businesses are doing well, likely because the people running them have invested the necessary time and effort into reaching their goals.
If your New Year’s resolutions include ditching the 9-5 and starting your own business, there’s much to consider and it can get overwhelming. Having some motivation can help you turn your ideas into a reality sooner. That’s why we’ve compiled a list of reasons why self-employment should be your goal for 2019.
If you believe that time is the only resource holding you back from success, it’s likely because you need to reconsider how you manage it. Evaluate the way you currently spend your day. There’s bound to be a number of things that you can eliminate or cut down on in your daily schedule – be it scrolling through Facebook or watching television.
Money is one of the main factors that seem to stop aspiring entrepreneurs in their tracks. There’s no denying the fact that opening a business is expensive, but there are many ways around this. Start small when you first get on your feet. Most of the initial process can be accomplished from the comfort of your own desk at home.
Monthly bills such as rent, electricity, internet access and insurance can be cut down on by negotiating better prices with service providers or simply opting for more affordable ones. For example, with Next Insurance, you can get highly affordable small business liability insurance that’s perfect for those starting out.
As a business owner, you have complete control over how operations are carried out. This comes with a number of benefits, such as job security. You’ll never have to worry about being laid off or having your salary cut down because the business needs to save costs. You write your own paycheck.
You’re also presented with the opportunity to learn new skills. The demands that come with running a business require you to push yourself and constantly strive for success as you become an industry expert. This translates into important life skills that cannot be learned elsewhere.
Because you’re constantly networking while running a business, you’ll be making a lot more friends, contacts, partners, references and colleagues who can help you in life. It’s always good to know people and if you’re a business owner, you’re guaranteed to get to know a lot of them.
If your passion lies in your chosen industry, this can also be an opportunity to connect with your role models or people that you’ve wanted to meet before. Perhaps they’ll be impressed by what you’ve achieved.
Did you know that small businesses account for roughly 65% of jobs created in America?
Job creation can significantly reduce poverty, along with the crime that stems from it. By giving those in need the opportunity to help you realize your ideas and create change, you’ll be making your own community a safer place. As your business grows, you can employ more people and help build a thriving economy.
By owning a business, you have the opportunity to create a legacy for your children, giving them something to work with and become successful at from a young age. When you’re working for a boss, this is the complete opposite case. You’ll have nothing to hand down but whatever is left of your savings after you’ve spent the rest in your retirement.
As a successful business owner, your hard work will lay a foundation for those who will carry your name in the future. It will provide the local community with employment opportunities and give your family something to depend on. You’ll also be setting an example for your children, showing them that success is something they need to grab hold of.
These are just some of the countless benefits that come with being self-employed. You can become a member of society who innovates, works hard and contributes something meaningful to those around them. There’s nothing better than being rewarded for going the extra mile.
It may not come soon and perhaps not easily. But with enough research, know-how, consideration and effort, you’ll soon be on your way to becoming a successful entrepreneur.
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