Discover the benefits of ditching employee status and becoming a business owner…
Running your own business is no walk in the park. There’s a lot of pressure on you to get it right, and it can be stressful at times. However, there’s also SO many perks- and more and more people across the globe discovering the benefits of ditching employee status and becoming a business owner. Here are some of the reasons why.
Good earning potential
One of the great things about working as an employee is that you get a guaranteed wage. It can be reassuring to know that each week or month you have a set amount of money coming in which allows you to afford rent, bills and other important living costs. However, your earning potential as an employee is set. Unless you do overtime, your earnings are capped- which is something that you can get around when you work for yourself. Admittedly, you don’t get the security of a regular wage- but go about things in the right way and you can ensure you have enough basic money coming in. For example, if you have regular clients then you can be sure that you have these payments. But when you work for yourself, your earning potential is essentially unlimited. You might have peaks and troughs, but some months you might find that your earnings are sky high. If you work in retail or selling items, Christmas and public holidays are always going to be good. When you work hard as an employee, your earnings will remain the same. If you work hard as a business owner, you can push forward more sales and essentially get more for effort.
Working for something you care about
It’s not to say that employees don’t care about the companies they work for. Many are passionate and have drive to make the corporations they work for the best they can be. However, it’s not always the case, and often as an employee it can feel as though you’re giving the best days of your life, lining the pockets of a company that has very little loyalty to you. When you work for yourself, you get to pour your heart and soul into something that actually means something to you. A venture that you care about, which can be incredibly rewarding. Most of us will be working until we’re in our mid to late sixties– it’s important to find something interesting or rewarding in the work that we do.
You call the shots
Being micromanaged isn’t everyone’s idea of a good time. In fact, research shows that it increases workplace stress and even reduces productivity. When you’re the one in charge, you’ve got no one breathing down your neck. You get to make the decisions that you believe are the right ones- from finding the right managed IT services and marketing companies to outsource to, to hiring employees to making decisions about the design, materials and price of your products. It puts you in control which really suits certain people.
What do you find are the best benefits of running your own business?