Many people dream of starting their own business, but only a fraction of those people take the leap and throw their heart and soul into a new venture. Often, the lure of a safe paycheck every month is enough to keep us working for someone else’s dream for all our lives – but it doesn’t have to be.
Starting a business (even one you only intend to be a side-hustle) is one of the best things we can do for ourselves and our future. When we start a business, we put ourselves out into the world and take control of our lives in a serious and often scary way! So, if you’re looking for an excuse or the extra push to take the big leap, here are 10 reasons to start a business:
1. Freedom
Starting your own business allows you to have control over your life. You will be your own boss. This means you can decide when you work and how you run your business. If you go full-time in your business, you will no longer have to work to someone else’s schedule or do things that feel counter-intuitive to you.
Being the owner of a business means that you have the freedom to make decisions for yourself and the business. You will be able to find ways to make your business more efficient (and better!) than other businesses offering similar solutions or products. You’ll be able to work only with the clients and customers who click with you and your brand, not just anyone your boss tells you to talk to.
2. Income
Yes, being in control of your own income can be scary – but it’s also empowering. If you’re someone who likes the idea of having control over how much you make, you’re ready to be your own boss. When you have your own business, you can make as much mony as you possibly can. Your income isn’t limited by your salary or how well others think you perform. If you grow your business so it can serve more and more customers, there’s really no limit to how much money you can make. It might take a little while to get there, but it is absolutely worth the effort!
You may also be able to get tax breaks as a small business owner. Things like phone services, travel mileage and professional organization membership can often be deducted. Not only will this help improve overall profits, but you may see personal benefits, too.
3. Do What You Love
Okay, so you don’t have to do what you’re passionate about when you start a business. In fact, sometimes turning your passion into your business isn’t the right move. But, regardless of whether you want to turn your passion into profit or simply start doing something you like so you’re in control, the fact remains the same: you get to decide.
So many people would kill to have a job that they well and truly love, and when you start your own business, you can have just that. Make it something you can be excited to tell your customers about, and you’ll find marketing and selling yourself, your services, or your products that much easier.
4. Make a Difference
Your new business could be the answer to a lot of people’s problems. You’ll provide solutions that will change people’s lives, in a small way if not in a big way, you may provide employment, boost the economy, you may donate to good causes (tax benefit and feel-good benefit), and you will give your family a better life. What could be better than all that?
5. Choose Who You Work With
We touched on this above when talking about freedom, but it’s worth touching on again in a slightly different context.
We all know that when you work for someone else, you don’t get to choose your colleagues. If you don’t like one or more of your coworkers, you either have to suck it up or find yourself another job. Being the boss of your own business means that you get to choose who you hire, and if you don’t think someone is the right fit for you and your business, you can decide to let them go.
When you fill your company with people who are as passionate about the business as you are, they will give you more confidence in the product or service you are offering and pass that on to your customers.
6. Challenge Yourself
Look back at your life over the last 3-10 years: how much has changed? If you feel like the last few have been the same, and you’re in a rut, it may be time to give yourself a new challenge. Running your own business will come with its challenges, of course, but that just means it never gets old. Every time you overcome a challenge, you get a real sense of achievement, and each challenge can only make you stronger. Do you love the rush that comes after finishing a project or being the person to save the day at work? If so, you’ll love being the boss!
7. Pride
What do you feel proud of in your life? What do others say that impresses you? It doesn’t matter what business you’re in; if you grow a successful business, you will feel immense pride and be respected by your family, friends, and the wider community.
Creating something successful from nothing is an amazing feat – if you dread the “so what do you do?” question at parties and gatherings, being your own boss is a great way to forget that embarrassment and move on happily for good!
8. Change Your Lifestyle
Starting a business is also a good way to change your lifestyle, especially if that “9 to 5” life is getting you down. Being your own boss allows you to have some more flexibility in your life.
Of course, this doesn’t mean you’ll have a ton of free time right from the get-go – remember the adage: an entrepreneur is a person who will work 70 hours a week for themselves so they don’t have to work 45 for someone else! Of course, you’re in control, so if you want to design a business that works largely at night, so you can spend the day or afternoon with your kids, you can do just that.
You may want to travel more, be active in the community instead of sat at a desk, or work at a desk from home instead of on your feet all day somewhere else – whatever your needs, you can design a business to suit.
9. Learn New Skills
Starting a business means there’s a lot you don’t know – in other words, there are skills you’ll need to pick up as you go. These are things you would have never learned as an employee. Learning these new skills “on the fly” is exciting, as it means you can research something new and learn the minimum to get by. Later, you can dive into the topic in more depth or simply pay someone else to do it for you. This could be something like marketing, graphic design, or finance.
10. Express Yourself
Starting a business of your own can also allow you to express yourself and get creative with your service or product. You don’t have to follow anyone else’s rules. You can find a way to work and develop your business that is best for your industry and target market. You will also be able to choose when you want to add to what your business provides when you start to learn what your customers want or need, without the restrictions you would get from the top managers in a corporation.
Starting your own business will not be easy, and it certainly won’t be free of stress, but the pride and thrill of creating something from nothing will outweigh all the difficulties!