Why are so many people afraid to start their own business? Is it due to the economic crisis the world is currently experiencing or the fear of failure? Whatever the answers may be, there are thousands of people who fear making that step to starting up a business which is why they continue to suffer in their 9-5 jobs. The truth is, starting up a business can be one of the best decisions you ever make in your life. There are so many benefits that can come from owning your own business but you may never know until you take that step! That’s why I’m here, to help you make that step by providing you with 10 good reasons why you should start up your small business now!
Start up
1. Time Flexibility. One of the major incentives to starting up a business now is the fact that you can work on your own time. This is especially so if your business is home based or a virtual one. That means saying goodbye to that 9-5 job! If you consider yourself a morning person or feel you are most productive in the evenings, you can make your own work schedule to suit your needs and this can be supplemented by your employees that you will hire for operations which leads me to my next point.
2. You are the Boss! Being the boss means you call the shots! Therefore, you have the authority to assign tasks to those you hire in order to effectively meet goals and deadlines. You can step in at any time and make changes as the success of the business depends partly on your leadership. The success of the business is seen through monetary gains.
3. Monetary Gains. You will benefit greatly from the profits of your business. You also will be mindful of the fact that the amount of money your business earns will depend on how much time and effort you put into it. You will put this effort into it because you will love what you are doing.
4. Doing what you Love. 99% of the time business owners open businesses based on things they love doing. Obviously you will have a passion for the niche you decide to go into for your business. As such, the work will come easier as you will be doing what you love and have a sincere passion for.
5. The Stability of your Business. When you start up your own business, you do not have to worry about losing your job as a person would being employed to a company as unemployment figures rise.
6. Taxes. Persons who are self-employed by virtue of owning their own small business have more tax breaks from the government that those employed by a company.
7. The Recession has Opened Doors for Growth. Strangely enough, the economic recession has created opportunities for new and unique products and services which you can offer with your business.
8. Starting up a Business is not as expensive as it used to be. Now, one can start their own e-commerce business online for as low as $100 USD! This is also due to the recession creating cheaper labour than usual online for virtual businesses.
9. Your Expertise. Many people suffer from self-deprecation where they doubt their own skills and abilities in starting and running their own business. The truth is, if you have been doing the same job for over 5 years, you are an expert in your field. If you can transform that expertise into your own business, you can create magic!
10. Unique Life Lessons. Lastly, starting your own business can teach you so much about life that sitting around a desk in a cubicle office would never be able to do. Owning your own decision puts you in the forefront of all the operations which offers a great learning tool!
Take some time and think about it! You can do it! All you need is a business plan, a little start-up capital and a positive mindset! Don’t doubt the success of your business before you have even created it!