Think you’re cut out to be the boss? It’s easy to quit your job and say you’re self-employed, but it can be difficult to reap the benefits of self-employment without a lot of hard work, sweat, and tears.Still, entrepreneurs and small businesses are the backbones of most communities. More than 99 percent of the businesses in Great Britain are small businesses, begun by people who just wanted to be the boss. Here are ten reasons self-employment can be glorious:
1. You control your financial future
As an employee, you have to ask for a raise and can get turned down if the company isn’t doing well. When you’re self-employed, you have control over the decisions that will make more money for your company and yourself. When you’re motivated and have good products and ideas, there’s no limit to your success.
2. You earn rewards for your hard work
If you’ve ever pulled an all-nighter for an employer, only to receive your paycheck while the company profited, you can understand how it feels not to be rewarded. When you’re self-employed, you will put in long hours. You take the risk. But you also reap the benefits when your business profits.
3. You set your hours
Employers determine your work hours. As an entrepreneur, you work when you want and have freedom over your work-life balance. If you need flexible hours, self-employment can be the way to go. The one drawback is that you may find it tough to focus at times. It takes a lot of motivation, dedication and drive to push yourself when no one is making you punch a clock.
4. You choose who you work with
You can pick your team when you’re in the driver’s seat. If you worked for an employer, you would have no control over who sits in the next cubicle. As an entrepreneur, you can hire new employees of your choosing. You can choose vendors and suppliers that line up with your goals and vision. You can also find people with the skill set that you don’t have.
5. Your days are never the same
As an entrepreneur, you never have a routine day. On Monday, you might wear your sales hat, but on Wednesday, you have to be the bookkeeper. You’ll be responsible for marketing, taking orders, invoicing, celebrations and motivation.
6. You can follow your passion
If you think that the importance of self-employment is the money, think again. The most successful entrepreneurs have a passion for their ideas and vision. Thus, the driving motivation is your dreams and goals. Sure, you can make money. But don’t expect to be driven by the money. What is it that would make you get up every day for the rest of your life?
7. You find solutions for people
Most self-employed business people go into business because they want to solve problems and improve the lives of others. You help people in your community with your product and service. You also create jobs and pay taxes, which support the schools, municipality and your neighbours. Entrepreneurs typically aren’t in it for themselves. Helping others can be a powerful motivator.
8. You aren’t a drone giving up intellectual property to your employer
As an entrepreneur, you can be creative and shape your business how you want. Your IP is yours to do with what you want to do, not to turn over your great ideas to an employer who won’t have the same passion and drive. Some of the best entrepreneurs are creative people who just don’t fit into the same box as others.
9. You support what’s important to you
Build your business on a foundation of your ethics, goals, and vision. If you believe in being eco-friendly, then you can take a stand for a green business. You can choose the vendors you want to support, companies that support the same ethos that you do. Your business can take a stand, politically, socially or environmentally, or all three or none.
10. You don’t have to wonder “what if?”
Being self-employed is remarkably fulfilling. Stepping out on your own can be scary and intimidating, but you’ll never have to ask yourself “what if?” If you’ve been dreaming of taking the next steps of starting your own business, make a plan to figure out how to get there. Don’t let fear of failure stand in your way. Starting your own business is real self-confidence booster, even if you don’t succeed at first.
Where to start?
Not sure if you’re cut out to be an entrepreneur? There are hundreds of resources available, but one of the best is smallbusiness.co.uk.Not only will you find hundreds of guiding articles online to get started, but also direction on running a small business, financing and applying for a grant.Even if you’re not sure what your passion is, there are resources to help you discover your dreams and goals.
