I’ve been in my own business for about thirty years. I’ve never considered working for someone else. Writing reasons down for why you should be in your own business is something that’s a little difficult for me.
When I think about reasons to be in your own business the other side of almost every reason would also be a reason not to be in business. As you read this list if the reasons resonate with you then being in your own business will make sense. If as you’re reading this list you see many of them as reasons not to be in your own business then owning your own business is likely not for you.
Here are 14 reasons I think you should be in your own business:
- You don’t have to worry about being laid off.
- You get to decide what goods or services your business is going to provide.
- You get to decide what the purpose of your business is.
- You get to be responsible for everything that happens in your business.
- You get to work on how to set a culture that represents your personal belief system.
- You get to figure out how to integrate your personal and business life into a life that allows you to be obsessed with your business as well as tend to things that happen at home.
- You get to decide which half of the day you would like to work.
- You get to be responsible for how people are hired at your company.
- You get to be personally responsible for making sure your bills are paid on time and your employees are paid weekly.
- You are responsible for the systems that make your business work.
- You are the chief salesperson for your company.
- You have the opportunity to become financially independent doing something you love.
- You have the opportunity to face bankruptcy and come out the other side with a business that survives.
- You get a chance to leave a legacy for what your business is and how it runs.
I believe that every business owner would have their own list of what’s important for them. I’ve also found that those who are successful have passion, focus, a reason for their business, and a belief that what they do is important.
One of my friends calls it having an adult at home in the business. The adult needs to show leadership in all areas of the business. If this sounds like you then by all means take the plunge. You’ll find the trip more than worthwhile.
I’ve put together a report on The 7 Myths of the Private Business Owner. I encourage you to click on the button below to download the report. If you’re an advisor to a private business, you can learn some land mines to avoid. If you own a business, you will learn some of the misconceptions that your advisors may have about you and your business.