There are many benefits to being your own boss — you feel more alive and more productive, for one. In fact, studies done by the Department of Labor show that productivity increases by 15% when a person is in business for him or herself, mostly because he or she is happier.
Here are some of the most common reasons why people make the leap, and why you might want to as well:
Freedom
From a practical standpoint, working at your own business gives you the flexibility to decide when and where you will work. Often, you can make your own schedule and work when it works for you, which may not necessarily be 9 to 5.
Control
Many people start their own enterprise because they are tired of being at the mercy of a boss and a job; that is, they want to control what they do. Even if you like your boss and your job, it still remains that you are at their mercy. That boss you like so much can be transferred. Your company can go bankrupt, or get bought out. There are many things about working for others that are beyond your control. Starting your own business is empowering because it puts you back in control of a very important part of your life — your work.
Money
Many people choose to start their own business because they think that they are worth more than they are making or that they want to provide a better life for their family. Owning your own business is part of the American dream and may offer you the opportunity to make more money.
Creativity and independence
If you feel stagnant in your current job, get ready — you won't feel stagnant for long if you start your own business. Running your own business will require creativity that you didn't know you had. You will be the marketing wizard, salesman, bookkeeper, secretary, and president all rolled into one. On top of that, every day will be different. You may spend some days doing nothing but producing your product or offering your service. Other days will be spent dealing with suppliers, or advertisers, or salesmen. And because you are the boss, there will be no one around to stifle that nutty, but possibly brilliant, idea you will get one day. Even better, you will be the only one in charge of implementing it. Your business will be run your way, every day, following your vision.
Risk taking
Starting your own business is a risk, that's a fact. But it is accepting that risk and making that leap of faith that makes starting a business a fun adventure. Entrepreneurs have many traits in common; chief among them is a willingness to take a risk — not a blind risk mind you, but a calculated, prudent, honest risk. If you are willing to do that, then you are on your way.
