Seven Benefits of Owning Your Own Business

byNicholaJames

10.4K followers

5 years ago

There is a certain level of pride in yourself when you own your own business. This is something that you have created for yourself by yourself to benefit yourself. Therefore, it is a labor of love. You want to be your own boss but by doing so you are totally relying on yourself as your soul provider and that could be a bit scary but you have to possess a particular set of characteristics so that you can stay the course and do what you need to do as a business owner.

More importantly, you are your business and your business is you. You are the only employee in your business so everything is rest squarely and heavily on your shoulders. However, with great determination, hard work, persistence and passion you can push through all the hardships, obstacles and rough patches along your business journey and become a successful business owner.

The following are seven of the main benefits of owning your own business:

# 1. You Are Your own Boss:

Yes, you are in the driver’s seat. You get to make all the decisions about every aspect of your business. You are in control and this could be scary or liberating.

#2, Build Something from the Ground Up:

Most people start a business based on something they are passionate about. Therefore, a level of motivation and enthusiasm is already present. You get to see your dreams come alive. With persistence, patience and passion, you can make your dreams come through.

#3. Make More Money than a Regular Job:

When you own your own business, there is a possibility that you can make more money as a business owner than an employee. A business has the potential to make more money than an individual can. As an employee, you are trading hours for dollars. Therefore, your income is determined by the number of hours you can work. As a business owner, you are also trading time for money but for a greater amount of money because of profit margins and other factors that employees do not get to part-take in.

#4. Live a more Flexible lifestyle:

Because you are your own boss, you get to set your own hours as well as the days that you work which can allow for more flexibility than if you have a regular job with specific work hours. Some women in particular, choose to run their own business while they raise their families. This allows them to be stay-at-home moms as well as business owners at the same time - mompreneurs.

#5. Job Security:

Once you have a successful business which is providing you with a living, you do not have to worry about losing your job or getting fired by your boss or downsizing which ends up eliminating your position. With your own business, your job position is secured once you work hard to keep your business operating successfully.

#6. You get to Help Others:

Based on your business niche, you can build your business around helping people by providing a service or a product that people can use or purchase and in so doing they become your customers. Also, it depends on the size and reach of your business, you might be able to provide a job or two within your own local community.

#7. You might Change the world:

You never know, your business might be the one that provide a service or a product that can become invaluable to the world at large and in so doing can change the lives of many people. You just never know. There is always a possibility.

In conclusion, if you treat your business like a business, it will pay you like a business but if your treat it like a hobby it will cost you. Therefore, you have to be willing to take on the responsibilities of your own business as well as put in the time and work needed for your business to succeed.

Remember, “The best people to work for are me, myself and I.” Unknown. Are you going to start building your own business today?

I appreciate your time and your comments.

To our success!

Kind regards,

Nichola