We have all heard the predictable arguments telling us why we should not go into business: your business might fail, you could go into debt, you will have to work very hard at the start. For the good of humanity, there always remains a brave few who insist they want to pursue their dreams, despite the risks. For every argument about why you should not go into business, there is an equally strong argument for why you should. Some of these reasons are as follows:
1. You want to be your own boss.
Many perks come with being self-employed. I think the most obvious is the amount of control an entrepreneur holds. For example, you call all the shots concerning the business and you are not required to explain yourself or your decisions to anybody else. You have full freedom to run your own business however you like and focus on the values that are important to you as an individual. You will be in charge of all major decisions about the company like working hours, prices, etc.
2. You want to make a career change.
It may be that you have come to your wits end in your current job, or perhaps you just feel that you need to make a significant change in your life, if this is the case, setting up your own business may be the perfect solution. If you become an entrepreneur, you will have the luxury of focusing solely on something you like. As the saying goes Do something you love, and you will never work a day in your life.
3. You want to make more money.
If you have reached a point where you just are not satisfied with the income you are getting, going into business may be the perfect solution. The wealthiest people in the world are always entrepreneurs. The possibilities regarding profits earned are limitless. Entrepreneurs are often taken pleasantly surprised by the extent to which their companies success exceeded their expectations.
4. You want to reap tax benefits.
Entrepreneurs have the advantage over employees as they can write off many expenses like travel, electricity, phone, heating, food, etc. Some government incentives are also applicable to particular businesses as the government is continually trying to encourage enterprise development.
5. You want to focus on things that are important to you.
There is a tremendous sense of accomplishment and self-pride that comes with setting up your own business. Although you might be financially comfortable in your current job, you may be willing to sacrifice that sense of stability in order to pursue a line of work that actually means something to you. It is more important to follow your dreams.
6. You want flexible work hours.
As an employee, it is your duty to show up to work when expected. Work is expected to take priority above all aspects of your social or personal life. However, an entrepreneur has the luxury of working a schedule that suits him/her best. They can rearrange their work timetable without having to seek permission from anybody else. This means that they need not miss out on precious moments- like children’s school play, a friends birthday party, etc. as a result of work commitments meaning that their relationships won’t suffer as a consequence.
7. You want to excel in personal education/become a better person.
Setting up a business and working for yourself will ensure that you gain invaluable life knowledge. You will learn a considerable amount about the world, society, business economy, etc. as a result of first-hand experiences. You will become an expert with a fountain of knowledge in the particular field you decide to cover.
8. You want to create a legacy.
Setting up a business is an excellent way to ensure you will leave a legacy. Financial security to provide support and protection to your loved ones should something unfortunate happen. There is also a nonmaterial legacy that comes as a result of building a business from scratch. This type of inheritance comprises a lifetime of relationships, accomplishments, truths, and values. Your kids will always know that you build your own life and that they can build their own if they wish so.
9. You want job security.
You have the freedom to do as you please when you are running your own business and you don’t have anybody to answer to. This means that you don’t have to worry about keeping your manager happy and you don’t have a fear of being made redundant or let go. You still may bare a risk, but nobody’s mistakes will affect you, you make your destiny.
10. You want to fill a void in the community
Before you commit to the idea, you must first assess the potential demand for your product/service. In this case, the first step is to identify challenges that your customers face. The second is the idea for a solution to this problem that is also a business opportunity. Although you can never guarantee the success of any business, success is much more likely when the demand is already there. As well as seeing it as an opportunity to make money, your company may be able to provide the community something it deserves or needs.
11. You want to face new challenges/experiences every day
When you are self employed, you can never predict how your day will turn out. The new experiences, where you will face new challenges and expand your capability. You won’t be bored or idle as you will always be kept busy with exciting new experiences and surprises. You will be continually learning new things.