Every year, thousands of disgruntled employees, fed up with their jobs take a giant leap of faith and decide to set up their own business. Some will be a success and some will fail, but what will unite them all is the fact that they’re glad they gave it a go.
If you’re looking for a new challenge in your life, want some more control of what you do and where your life is going, then starting your own business can be a fantastic idea. If you’ve got a viable business idea, have a look at our ten reasons to start your own business. Who knows, you might even be the next Richard Branson!
No more taking orders from anyone
Are you sick to death of taking orders from your boss? Being forced to come in for unpaid overtime, being asked to go over and above what is expected and never getting any recognition at all? Well, if you start your own business, you’d only need to answer to yourself. No more being told what to do and when to do it. Set your own schedule, plan your own tasks you’re your own boss! Sounds good, doesn’t it?
A chance to do something you love
Do you love your job? Great if you do, but if you’re like most people and genuinely hate it, then starting your own business can be your chance to do something you love. It might be a hobby, a particular skill you have or just something you have always wanted to do. Imagine waking up to doing something you love every morning and getting paid for it!
What used to put a lot of people off working for themselves was the lack of job security. But since the recent economic crisis, no job is safe, and in a peculiar way, self-employment perhaps offers the most job security. Your success is down to you and you alone. Are you confident in your own abilities? If you answered ‘yes’ to this question, you won’t be able to find a more secure job on the market.
No more commuting
If you’re one of the hundreds of thousands of people that commute over an hour each way to and from work, then the chance to end that must surely be welcoming. No more being packed into a packed tube, no more sitting in endless traffic jams, getting home late at night. Just imagine it. Working from home is challenging, but it’s a damn site better than commuting. And, when your business gets bigger, you can find some premises near to home, so still no commute.
It’s a challenge worth doing
Don’t be under any illusion; starting your own business is indeed a challenge. But, it’s a challenge those that do it absolutely relish, and if you can make your business a success, imagine how satisfying that would be. If your job no longer offers you the challenges that drive you onwards, then if you’ve got a viable business idea, why not give it a go? It will be the biggest challenge of your life, but also the most enjoyable with the most rewards.
Create a legacy
If you’ve got children or if you’d like to have them in the future, then imagine being able to build a legacy for them and secure their financial future. You put all that hard work into your current job, but what do you really have to show for it? A salary that probably isn’t even reflective of how hard you actually work. By starting your own business, every hour you put in is securing your family’s future. Now that really is satisfying.
There is funding available
There are a lot of scare stories about how it is impossible to get funding to start a new business. However, there are places where you can apply for government loans (listed at the end of this article) and the banks are lending more and more. One thing to think about though is not to assume you need funding just because it is available. If you can start small and grow it without borrowing money, it’s ideal not to owe anything to anyone.
The Internet is your friend
The Internet has made starting a business so much easier. From building a website to getting your business logo designed, you can all of this done at very cost-effective prices online. If you really want to cut costs, there are sites where you can pay just $5 for some services, though you should be warned that you might come across some significant quality issues. The other great thing about the Internet is that there is a wealth of advice out there. From business forums to blogs, there are lots of places you can seek answers out to your questions for free.
In your current job, your earnings are decided by how much money your employers think you should earn. However, when you are running your own business, there is no cap upon what you can earn. Instead, factors such as how well you market your business, how good your product or service is and how hard you work will determine just how much you earn.
Some people start their own business not to become financially rich, but to become time rich. If you’ve got kids and find yourself hardly seeing them during the week whilst you are at work, then starting your own business is something worth considering. Although in many ways you will work harder when you were self-employed, you are in charge and you can set your own hours.
That means that you might choose to work early mornings through till 3pm, enabling you to pick your kids up from school and spend quality time with them. The ability to work when you want is a wonderful thing, and definitely something worth considering.
Local Support For Starting Your Own Business:
- England – National Enterprise Network
- Northern Ireland – NI Business Info
- Wales – Business Wales
- Scotland – Business Gateway