Want to start your own business and be your own boss? Congratulations. The entrepreneurial urge is new.
You may wish to establish your own business to capitalize on an opportunity or meet a community need. Or you don’t know why it’s drawing you. OK.
It doesn’t matter why you want to establish your own business. Every motive is valid, whether you wish to quit your job or merely make extra money.
Inspire entrepreneurs and provide them with the tools they need to succeed. Here are 19 reasons to start your Own Boss business. Consider this your explanation (or community-backed excuse) to start your own business.
1. Manage Your Time
Are you frustrated with constant direction? Starting your own business allows you to be flexible. You can sleep in, stay up late, work partial days, or take Fridays off.
Your early days will be busy, but as you scale and learn to delegate, you’ll have more time.
Need to attend a family function but overworked? Substitute a weekend for a workday. Tired and seeking more sleep? Instead of 9-5, work 12-8.
You may eventually be happy with your earnings and reduce your working hours. You can get by on 20 hours of labor and rest.
It is also true. You may also go deep into your job and give it you’re all. You take Charge of your time.
2. Remote Work
Small and large enterprises alike demand you to work in specific places. Even “remote” insurance generally includes restrictions on where you may reside.
You may work from home, a coworking space, an office, or even a neighborhood coffee shop. You can work anywhere, even the conventional beach resort (don’t get sand in your laptop) or the back of an RV on a cross-country road trip.
3. Get Richer
Except on commission, your full-time salary is probably capped. You earn a salary (independent of your contribution or performance) and maybe a year-end bonus.
Starting your own business gives you control over your earnings. Money issues? Work longer or charge more. Need more time? Reduce your job and income.
A company owner’s remuneration is uncapped. Make more money and grow your business.
4. Pursue a Passion
Do what you truly desire. Pursue something that makes you joyful—no bad passion.
Want to be an artist? You have a long way to go, but it’s your dream. Want to teach ski mountaineering? Risk it and go for it.
Entrepreneurship allows you to produce rather than seek happiness.
More than 60% of Americans hate their employment. Do something you truly care about to avoid this destiny. Is it still “work” after you get there?
5. On the Brink
As the boss, you determine whether to take risks and when to relax. There will be highs and lows, but ultimately, you determine whether it will be a dull day.
A thrilling and nerve-wracking experience! At times, you’ll lose sleep and then sleep well after an adrenaline-filled day.
For better or worse, being entirely accountable for your money puts more on the line every day. Mediocre performance is no longer acceptable, and that is gratifying.
6. Escape the Zombie
Get rid of the corporate bureaucracy. The days of cheesing your way up the corporate ladder are over.
Starting a business is a way to escape the rat race for many. In this situation, you’re launching a business to avoid something (money, passion, independence) (the rat race).
No matter what happens in your life or profession, you always get to prove that you are in Charge. Losing your work may be devastating, so it’s no surprise that millions are turning to side hustles and businesses to keep their finances afloat.
7. Find Your Purpose
Do you ever feel unfulfilled at work? Are you slaving away for a paycheck? Unlike becoming a workaholic, starting a business may provide you tremendous meaning and purpose in life.
Finding your passion and building a Own Boss business around it isn’t work—it’s a dream come true.
Meaning is that sense of purpose, passion, and overpowering worth. We can all agree that a meaningful existence is desirable (and not just a pipe dream).
8. Take Charge
You make the rules. You get to select everything: who you deal with, how much you charge, marketing techniques, which you employ and dismiss, where, when, and how you operate.
Someone making a stupid or insensitive judgment will never damage you. But now you’re in a position of total responsibility. It’s a hefty burden, but one worth enduring.
9. Create Your Career
Set your professional path instead of having your boss or HR dictate it. Sure, you’ll start at the top (hello, CEO), but you can change your path later.
You might, for example, employ a CEO to operate your company while you focus on a more rewarding position.
It’s not unusual for entrepreneurs to hand over the CEO reins to another person to follow another interest. The nicest thing about starting your own business is that you get to decide.
10. Be Skillful
Your first corporate position probably required you to excel at one thing—headhunting, email marketing, sales, or product road mapping. Entrepreneurs get to do it all.
Gradually, you’ll begin to delegate these duties. On day one, you’ll likely wear all the business hats, and you’ll learn a lot.
It can be overwhelming at times, but you will rapidly learn and progress. You’ll learn new abilities, find hidden talents, and discover what you’ll never do again.
This job allows you to explore career options and learn new skills quickly. You may learn that SEO is your new passion, and sales are your biggest nightmare. You’ll get a taste of everything before deciding what to keep and what to outsource.
11. Begin Fresh
Building a company from scratch is satisfying. It would be lovely to start with a lucrative 6-figure business, but where is the challenge and joy in that?
Starting a business is like painting a blank canvas. You get to choose the business name, brand voice, and key product. It’s a rollercoaster, but you’re in control.
12. Jot Down Business Expenses
Tax benefits are a nice bonus but hardly a reason to establish a business. As a small Own Boss business owner, you may be eligible for tax incentives that benefit both your company and you personally.
Magazine subscriptions, phone services, travel mileage, professional group memberships, and even rent can be deducted. And chances are, everything you need to run your Own Boss business qualifies as a deductible.
Tax rules differ by country and state, so do your homework and consult an accountant.
13. Embrace Creativity
Nobody can operate a business perfectly. Sure, there are tried-and-true methods, but they aren’t the only ones.
Be unique. Take risks. Do something unique.
Your products and services may be creative, but so may your corporate culture. It might be in your company policies or your community service.
Take yourself lightly and occasionally have some fun.
14. Fill a Gap
Many entrepreneurs start to fill a need they see. Brian Chesky and Joe Gebbia launched Airbnb because they couldn’t pay rent in New York and chose to rent their apartment to conference-goers instead.
Where do you wish to help? Whether it’s climate change or a lack of chicken wing alternatives in your area, each offers a business opportunity.
11. Develop a Team
Assemble your “Moneyball” startup squad. You’ll get to choose Own Boss who you work with every day, and you’ll be responsible for their livelihood.
There’s no one approach to develop a team. You may start with your nieces and nephews or hire a web developer you’ve never met.
Recruit new coworkers when it makes sense, and fire those that harm the company. You, as CEO and coach, determine who joins.
12. Create a Brand
In an agency or major business, you are typically just another cog. Personal branding suffers when you help construct someone else’s dream.
Starting your own business resurrects your career. Your brand will expand together with your business.
17. Secure your job
Climbing the corporate ladder is a dangerous road. You may lose your work tomorrow owing to downsizing, a shift in the economy, or grouchy management.
When you run your own company, you make these life-altering choices. Yes, your company may still fail, but you are the one investing in its future. You own your fate.
Plus, building a firm will teach you a whole new set of useful skills. You’ll be better equipped to launch another profitable business. And if the worst happens, you’ll have new skills that make you more employable.
18. Return to The Community
We live in a world full of issues, many of which stem from a lack of finance. A successful business would enable you to address the challenges you notice and care about.
You may even embrace social entrepreneurship and focus on social value rather than monetary value.
Start a company to support young people or single parents. Everyone benefits when you prioritize doing good above generating money.
Doing good may be a side effect of your business, not the main focus. One may claim that Facebook, for example, does little good. However, the company provides millions to organizations globally, which is wonderful.
19. Because This Is What You Want.
That’s enough. You could write a book about why you should start a business, and someone else could write one about why you shouldn’t.
Finally, if you feel compelled to go out on your own and establish a business, answer the call. You can start a side hustle without quitting your day job and develop it with minimal risk.
Just wanting to establish your own business is a good cause.