It is not uncommon for people to become disillusioned in their work, to lose motivation, or become frustrated with their employer from time to time. However, if you are someone who feels like this often, you will probably have considered whether you have what it takes to go it alone. Starting a business, either as your sole source of income or as a side-venture, can be challenging and takes a lot of work, but many successful entrepreneurs will tell you that it is the best decision they ever made. If you are considering starting your own business, but are still undecided, here are nine reasons why you should take the leap:
- Be your own boss
In addition to not liking their day to day responsibilities and low pay, lots of people find that their major complaint about their work is their boss. When you run your own business, you become your own boss so you can make your own choices. This means a lot more pressure on your head, and some hard lessons will probably be learnt along the way, but it also means you are responsible for your own successes, which is one of the best feelings.
- Pursue your passions
Working in a job for no other reason than it enables you to pay your bills can be soul destroying for lots of people. Starting your own business can enable you to pursue a venture you are passionate about which can mean that you never feel that you are at work again. Of course, you need to conduct market research to ensure that there is a market for your product or service.
- Manage your own schedule
Are you sick of having to arrive at the office by nine o’clock every morning, eating your lunch at a specific time, asking for permission to go to the bathroom, and waiting for the clock to chime five before you can go home? Running your own business enables you to set your own schedule and deadlines, and you can arrange your work around your family commitments. You will need to have a high level of self-motivation and self-discipline to ensure the business keeps moving forward.
- Free your creativity
When working for someone else, you often need to compromise, negotiate, or simply do as you are told, even if you know that your way would be more effective. When you run your own business, you have complete creative freedom and can be as innovative as you want. Knowing that your successes are the result of your own creativity is rewarding and exhilarating.
- There is lots of support available
You will hear a lot about how difficult it can be to start a business, and while there is certainly some truth to this, help is out there. There are lots of grants and loans for start-up businesses, as well as mentoring schemes and organisations designed to guide new entrepreneurs through the process.
- You can make a lot of money
It is not just international corporations that bring in a lot of money. With the right idea and the right time, and some clever marketing, you could make a lot of money. This can happen relatively quickly, but in most cases, it takes time for a business to become profitable. It is important to note that when your business is turning a profit, you need to take care when drawing profits for your own salary as there are tax implications to consider.
Starting a business does not necessarily mean that you need to quit your job. If you want to remain an employee to ensure you have a reliable income, you can start a business on the side to generate extra income.
- You will never be bored
Running your own business will make you a busy person, and you will probably be performing lots of different roles and tasks to keep the business ticking over. This means no more watching the clock tick by – you will wonder where your hours and days go, and no two days will be the same.
- You can work from home
Most start-up businesses begin at home as this keeps overhead costs to a minimum and avoids the need to pay rent or buy premises before the business is profitable. There are lots of pros and cons to working from home, but you can make yourself comfortable in familiar surroundings and will not have to deal with the stress of the daily commute.
- You can leave a legacy
Depending on your ambitions, your business could become a huge success which changes the lives of not just you and your family, but thousands or millions of customers. Many of the world’s most famous entrepreneurs started with little more than a desk and a laptop. They now have a legacy to leave to their family and their name will be remembered for years to come.