Leaving behind the comfort and familiarity of a regular job and a reliable paycheck is a daunting prospect for many individuals. Indeed, the fear of becoming self-employed often scuppers many great, profitable ideas. Yes, there is no denying that being self-employed has its challenges and that not everyone has what it takes to grow a successful business. But if you feel that you have a great idea, are persistent, determined and resourceful, then being self-employed offers a potential lifestyle you’ll never realize as an employee. What follows is a list of 10 of the biggest benefits of stepping out of your comfort zone and becoming self-employed.
1. You control your life on your own
Many entrepreneurs are the type of people that like to take control and make decisions. As a self-employed business owner you have the freedom to make decisions that shape the present and future for yourself and your family. Your destiny is in your own hands. As an employee, however, your financial status is intrinsically linked to the success of your employer.
2. You get to choose your hours
Being self-employed means you get to choose when you work. Rather than being contracted to set hours, you can start as early or late as you want. Although this inevitably provides a much desired level of flexibility, the self-employed entrepreneur must be disciplined in order to run a successful enterprise. Balancing work and family life can be difficult, but running your own business affords you the ability to take time-out when needed. As long as you’re realistic and don’t award yourself too many vacations, a well-run business provides many lifestyle benefits you simply don’t get as an employee.
3. You get to work with people you like
When you’re an employee, you work with people you like and others you very much dislike throughout your career. As an employee, you don’t get to choose whom you work with. If you don’t like your co-workers, tough. But that’s not the case when you own your own business. You get to make the decisions about who to hire and fire, and you can build a team aligned to your personality and goals.
4. You get the rewards
Sure, as an employee you’ll get paid overtime for putting in the extra hours. But you’ll rarely get a share of the profits generated from that work. Whereas when you’re self-employed, you get to see the financial results of your hard work. Even if it is from self employed loans, its a great feeling. Yes, starting a business is never without risk, But if you get it right, the rewards far outweigh that risk.
5. You can follow your passion
If it’s just about the money, forget it. The most successful business owners are rarely purely motivated by money. Invariably, they love their product or service or just love building a business. They want to make things better, cheaper or easier. Being self-employed helps you escape the trap of working in a job you hate and allows you to turn your passions into a business.
Well, I hope you found this to be an interesting red and if you did then do let me know in the comments below.