Be the Boss: 5 Benefits of Owning Your Own Business

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Nobody in their right mind will tell you that owning a business is easy. It requires long hours, resilience, creativity, problem-solving skills, financial knowledge, organization and a lot of self-motivation. There are articles all over the internet bursting with cautionary tales and warnings about the pitfalls, but not so much about the good aspects of running a business. Building a successful business from scratch is one of the most rewarding things you can do with your professional life. If you’re considering a move towards self-employment but feeling a little discouraged by the challenges you’re about to face, remember to balance them with these 5 key benefits of being the boss.

1. You’re in Control
Being the owner of a business puts you in the driving seat of your own success. You can direct the key decisions and go with your gut. It doesn’t mean that nobody will ever tell you what to do as you’ll still need to listen to customers, staff, suppliers and the government to a certain extent (the most successful bosses are the ones who work with others rather than dictate to them) but yours is the final word in most situations.

2. Build Something from Scratch

Creating something is one of the best feelings in life, and we start doing it from our earliest years. When you start your own business, you get to do this on a whole new scale. You can imagine, design, build and improve your business in line with your own vision. You also have the chance to build something which will be a legacy and continue for many years after you retire.

3. Find More Flexibility in Life
Owning your own business can offer a lot of flexibility which working for others often does not. Although getting the business into a profitable state often requires a lot of hours, you can choose when you work and when you rest. When you’re the boss, you can work part-time or even delegate the day to day running to a manager.

4. Make More Money
Not every business generates a fortune, but owning a business often gives you the opportunity to earn more than you would as an employee. The key point is that you’re in control of how much your business makes and your decisions directly impact your costs and profits. You’ll be in charge of how much you charge for your products or services and how much you can save on running the business from the premises, business utility renewals, packaging and staff costs. It’s a lot of pressure, but a great feeling when you get it right.

5. Make a Difference
One of the biggest benefits of being a small business owner is seeing the difference you can make in the lives of others. From the staff you employ to the customers you help through your product or service you can enjoy the positive impact of your actions daily while contributing to the economy. Depending on the nature of your business, you may even be able to make a difference in the local community or, in some cases, on a global scale.


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