The 4 best reasons owning your own business
beats working for someone else.

Image of Teneal Norwitz

By Teneal Norwitz

There must be some reason why so many new businesses are founded each year, right?
Well, here are the four main reasons owning your own business is the best step you can take for yourself right now:

 

1. Owning your own business means
are in control of your future

Have you ever wondered who invented the sticky note? Or the little plastic things on the end of your shoe laces? Have you ever thought to yourself, “Why didn’t I think of that?” Entrepreneurs think of every possibility. Most entrepreneurs consider themselves “Type-A” personalities, they like to take control and make decisions, without having someone telling them what to do. In other words, owning your own business saves you from having to work for anyone else, with the added benefit of more creative freedom without being put into a box. “When you’re in the driver’s seat, you are making the decisions on how best to steer your company into the future.” Says Kasey Gahler, owner of Gahler Financials.

However, having your own business does come with its challenges. Being your own boss doesn’t mean that there is suddenly no one to tell you what to do, you’ll still be working for your customers. The good news is though, you’ll get to choose who you work with. You can surround yourself with positive people who give you the confidence and support you need to keep moving forward and growing your business. And you can weed out the people that put you down and send out negative vibes.

Woman business owner with a "like a boss" mug

2. Find a work/life balance that works for you

One of the most appealing benefits of owning your own business is the flexibility and ease in which you can work, from wherever you want, and set your own hours too. Whether you’re sitting at home in your pj’s on a rainy day, or having some much needed cuddling time with your cat while you work, as long as you’re meeting your deadlines, it doesn’t matter — as long as you use the right tools!

Sometimes you may wake up and just feel like you need a ‘me day’. Entrepreneurs say that owning their own business lets them set their priorities, in order of importance. “I make my own schedule, allowing me to spend time with the most important purpose in my life and the inspiration behind my company – my son, Zachary,” says Yamile Jackson, whose company, Nurtured by Design, makes ergonomically designed products for babies and toddlers.

For women, especially, owning your own business can give the lifestyle flexibility necessary to raise a family while still having time for a successful career. Mompreneurs are a growing trend; over the last 17 years, women-owned businesses have increased dramatically, according to Fox Business. The number of women-owned businesses has increased by 68% since 1997, with more than 9.1 million women-owned businesses operating in the U.S. in 2014, up from 8.6 million in 2013.

3. You could make a difference, and challenge yourself while you’re at it.

 

Some people need the structure and routine of their job – performing the same tasks day after day. Maybe that mundane lifestyle works for them. But as an entrepreneur, you can bet that each day will be filled with new opportunities, creative challenges, and inspiration.  

Entrepreneurs seem to walk right through red tape without a backyards glance. Rather than wait for approval – or for the rule book to be written – business owners always jump at the chance to get things done. The great thing about owning your own business is that you will rarely experience the same day twice.

Your business doesn’t have to be the next Google or Facebook to implement change in the world. It can be something similar to what Vestergaard Frandsen came up with over 10 years ago. His idea was to provide safe drinking water to millions of people, at a low-cost. He invented a water purification straw, called LifeStraw. The user sucks the dirty water through a plastic tube, which is then filtered through the filtration system which removes 99.9999% of waterborne bacteria and over 98% of waterborne viruses. Cool right? Well, your idea could be next.

Sing saying "you've got this"

4. You take the risk, and can be proud of the reward

 

There’s no question that owning your own business is a risky proposition. But, with great risk comes great reward. And while it may be scary to take that leap, and jump into the deep end, it’s significantly less intimidating once you understand the risks. You will learn to recognize good opportunities from bad ones. You will learn to create exit strategies for bad situations and how to maximize the good ones. Risks shouldn’t steer you away from pursuing your entrepreneurial path. Instead, see them for what they are: necessary obstacles to success. 

“The thing I enjoy most about the company is playing the ‘game’ of business,” says Mark Dinges, who owns a Tustin, California-based business called California Creations that makes sophisticated windup toys called Z Windups.

One of the biggest differences in owning your own company as opposed to working for someone else is the sense of pride you will establish in building something of your own. And best of all, you’ll be waking up with a smile on Monday morning eager to start work rather than dragging yourself out of bed to get to the office where you work for someone else.

So, why not take the risk and jump in the deep end?… From experience, we can say it’s definitely worth it. We’ve even written this article to help get you started.

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