I know a lot of people are on the fence about starting their own business or stepping out on their own. If this is you, I hope I can tip the scales in favor of action.
As someone who has only ever been self-employed, I know no other way. I simply can’t stomach the idea of not enjoying the benefits that self-employment provides. Here are some of my favorites:
Security
Many people believe that security comes from a stable job at an established company.
I vehemently disagree.
Ultimately, you alone determine your security in the marketplace.
With a traditional job you have one customer – your employer. Often, your future lies in the hands of one decision maker. But with a small business you have dozens or even hundreds of customers.
If one customer fires me, for any reason, I still have hundreds of other income sources. Additionally, I can always go out and get it more – that’s actually an integral part of the whole thing.
My income is vastly more secure coming from my own business than it would be if it were dependent on the whims of a boss or employer.
Control over Time and Schedule
Whether it’s to extend a weekend away or just to have another day with my family, I often choose to take Mondays off. This little luxury can be incredibly refreshing.
Of course, when I’m not there, it means my work isn’t getting done. And it must get done at some point. But I have found the ability to customize my own schedule to be tremendously beneficial.
Some Mondays are more valuable than some Saturdays, and I’m happy to exchange them.
Recently, my wife and I attended a wedding outside of New York City. The wedding was on a Saturday evening, and since we were already there, we wanted an extra day to explore the city.
So, I took Monday off, and that’s what we did.
We spent the entire Sunday and Monday morning pushing our newborn son around Manhattan and caught a flight out of Newark at 3:00 Monday afternoon.
We were able to do this not because we are rich, but because we are free. Owning our own business has made us so.
The simple liberty to take off that Monday turned what could have been a stressful, time-rushed obligation into a relaxed weekend. A 3 PM Monday flight also meant less traffic (Manhattan to Newark in 20 minutes) and cheaper airfare.
To me, freedom and flexibility are worth more than great amounts of money in many respects. Fortunately, our business provides us with all three.
Brand Building
The opportunity to build a quality brand is one of the most fulfilling aspects of owning a business. Making your name or the name of your enterprise synonymous with your values provides one of the highest forms of long-term satisfaction.
It’s great to contribute to the success of someone else’s business, but few things can compare to the gratification of growing your own venture.
Forced Growth
If you want a job where you don’t have to stretch and you don’t have to try, those opportunities are out there.
But complacency is not an option when you are an entrepreneur.
If you want to eat, you got to work. Some might see this as a negative. And those people are not cut out to own their business. But for those who accept the challenge of life to always be changing and growing, entrepreneurship is a natural fit.
Unlimited Potential
This one is a double-edged sword. Unlimited upside also means unlimited downside. There are no guarantees. But in my humble opinion, risk of loss is a small price to pay for the opportunity to achieve massive amounts of success.
At the end of the day, most of us who start a business do so to make money. And that’s OK.
The nine-to-fivers are trading their lives for money as well. Business owners can do it with more intentionally and control, though.
Personally, I have a need for my efforts to be attached to results. When I work, I need to know that I am at least increasing my chances of reaping better rewards. That is the promise of owning my own business.
When we have a banner month, I know it was my hard work that made it so. When things are down, I know exactly who to blame – me.
But as long as I own it, I know the opportunity exists for me to make as much profit as my efforts can yield. There is no ceiling.
Traditional employees sell their time for money. But none of us can get more time.
Entrepreneurs market their value, and there is no limit to the value that one can create.
