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Six great reasons to be your own boss

Updated on September 10, 2015
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Erin Shelby is passionate about living a lifestyle that aims for financial freedom. She writes about personal finance and other topics.

Are you ready to open your own business?
Are you ready to open your own business? | Source

What’s so great about entrepreneurship? Why do people start their own businesses? Check out these six great reasons to be your own boss.

Autonomy

As the owner and operator of a business, you call the shots. You make the rules. You’re in control. That’s not to say there are not consequences to your actions, but if you enjoy having leadership and seeing your plans come to fruition, this may be the opportunity for you.

Lack of Other Opportunities

According to CNN Money, the unemployment rate for April 2013 was at least nine percent in California, Mississippi, Illinois and Nevada. In 12 other states, the unemployment rate was at least 6.1 percent. These numbers only account for individuals who are considered in the unemployment numbers and does not include those such as recent college graduates who cannot find jobs in their field of study. It also does not account for those who are underemployed and seeking more hours.

In such times, when opportunities are not abundant, job seekers can continue looking for traditional work while also considering the opportunity of self-employment.

Source

Creating and Executing a Vision

Every company, large and small, has a mission statement or a vision. As the head honcho of your organization, you get to decide how to steer the mission. If you decide to become an independent contractor for Avon or Mary Kay, there will already be a framework in place, so you won’t be in this by yourself. But if you’re building a business from the ground up, such as a licensed massage therapy service, what will your vision be? To be the preferred provider in your neighborhood? To offer the most reasonable rates and quality of service that your clients are proud to recommend to family and friends? The vision is up to you.

Living Your Values at Work

Unfortunately, it seems that stories of workplace corruption are becoming more common. As a business owner, you get to decide what your business will be known for: honesty, integrity and treating the customer right, or cheating the customer and producing an inferior product. If you have a special passion for philanthropy, you could incorporate that into your business as well.

Source

Power Over the Budget

Many Americans are fed up with what they perceive to be foolish spending in large corporations. If you feel you could manage the money wiser than these entities, have you considered starting your own company? Business owners handle these decisions on their own or hire someone else to handle the finances. It’s important to have a plan for start-up expenses and an understanding that making a profit from a business takes time.

Choosing Your Schedule

Being the boss means getting to decide when the business is open and when it’s closed. While this doesn’t guarantee that you’ll never have to work at an undesirable time, especially if it’s at a time when customers are likely to want service, being your own boss makes it easier to avoid time conflicts with your personal life and navigate family emergencies that may require you to be away from work.

Choosing Personnel

As the owner, you decide who to bring on board or to work alone in your new venture. You have the power to bring the best and brightest people from the industry to start your company. You’re in control of how to train and equip your employees or yourself to make your business a success.

What type of business are you going to start?

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© 2013 erinshelby

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