TOP 10 BENEFITS OF STARTING YOUR OWN BUSINESS

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reasons individuals start their own business

There are handfuls, if not hundreds, of reasons individuals start their own business. In any case, one of their main reasons is that they desire to make a difference and stand out in their way.

Having spoken to diverse entrepreneurs throughout the years, I can relate to you that there is a lot of fulfillment to be achieved from building your own business.

Some of the benefits include;

SPARE TIME AND FREEDOM TO PLAN.

While businesspeople will without a doubt be dealing with plenty of undertakings, responsibilities, and activities most of their time, these set of people are still free and in full control to choose when they need spare time.

For instance, I hate the traffic on the road to the city in Abuja, so I prefer to stay at home till 10 am before coming to the office. Also, internet service in my area is best at night and there is calm in the neighborhood, so I prefer to work in the night, sleep in the morning and go about for business meetings in the afternoon and evening. When working as an employee, I don’t have the freedom to schedule my day the way I believe will be more productive for me.

As a business owner, you are free to spend quality time where you want, to think thoroughly and be innovative and creative.

YOU HAVE INDEPENDENCE AND PRIDE.

Is there greater pride than starting and building something from scratch up with your own hands, sweat and know-how?

Another thing is the independence it offers. Starting your own business has its challenges but having a boss or supervisor telling you what to do is out of it, you have independence and deal with what is required to succeed while in charge of your own life.There is this pride in making the decisions and setting the course for a venture, not to mention, you’ll just have that flexibility to do what you want in life – even if that means taking an extended vacation or going home early on a less busy day.

YOU ENJOY NETWORKING OPPORTUNITIES.

As a business owner, one gets to rub shoulders with people of the same caliber, lower and higher. This gives room for lots of opportunities, including the opportunity to have Positive Influence, Increased confidence, referrals, business connections, friendship and most importantly for gaining advice and learning new thing for progressive living.

YOU HAVE JOB SECURITY.

Looking at the magnitude of uncertainty surrounding the job market in today’s fast-changing world, making your independent venture offers you the ability to live without fear of Employment scams, Downsizing and Arbitrary termination of employment that have grown to be progressively predominant in the corporate world.

There is indeed no way 100% job security can be achieved, nevertheless, business owner can’t be victims of at-will employment. At-will employment means that you are keeping your job at the will of your employer.

YOU BECOME A SPECIALIST IN A FIELD.

The more you find out about your business and how the business world functions, the more you will expand your capacity to spot and make the most of different open doors ahead. Being a specialist in a particular field opens diverse entryways for your progress and financial development.

YOU WILL LEARN NEW SKILLS.

As a business owner, you will be required to learn new things like Marketing, Sales and Customer Service, Communication and Negotiation, Delegation and Time Management, Networking and Leadership. This solitary serves to expand your range of skillset.

YOU HAVE BENEFIT AND BUDGETARY CONTROL.

Entrepreneurs promptly appreciate the advantage of controlling where their business benefits go, how they are allotted, and how they might be contributed to promote the ability of the business.

YOUR BUSINESS CAN BE LEFT AS A LEGACY.

Business can be inherited, your family or anyone you choose can continue your business when you leave. This is not the same when you work as an employee for a company or government.

As an employee, what most people leave for their family includes pensions, gratuity or best employee award plank to hang on the wall.

But business as a legacy is something that will live on after you have retired or left the world. The legacy will likewise increase than any individual. As a general rule, large companies were begun by people with huge dreams. They concentrated on those fantasies until they become a reality.

One’s business heritage is the synopsis of an individual’s accomplishments that keeps on having an impact on the world even a prolonged time after his death.

YOU ENCOUNTER CHALLENGES THAT MOTIVATES.

You become a problem solver, confident in rising to challenges.

Launching a business is not only about independence but also about dealing with difficulties in your way.

No matter how well we plan, we will encounter difficulties in our business.This means owning a business instructs us to be able to make good decisions, sometimes under pressure.

When you start your own business, there is no room for getting intimidated and threatened by the possibility of failure, instead you get excited because of it. And begin appreciating the idea of offering extended hours and rigorous work into a project due to the satisfaction you will imply the end. Most business visionaries are partially motivated by challenges because if you plan for an easy-going life, you likely won’t continue to stay fruitful business.

TO CONCLUDE, YOU SATISFY YOUR URGE TO INVENT THINGS.

Even though starting and build up your own business will inevitably represent a troublesome journey, loaded up with brutal rude awakenings and lots of passionate and money related strains.

Going into business empowers people to develop on individual grounds and positively influence the world

And you satisfy your God-given urge and longing to invent things.

Thanks for reading this BENEFITS OF STARTING YOUR OWN BUSINESS.

You can lave your comments below.

Owolabi Meshach

Owolabi Meshach

A dream chaser, Tech lover and WordPress enthusiast, who has, through self-education gained a wealth of knowledge in web development. The founder of Rindx (rindx.com) and Tycoon Concept.

4 comments

  1. So educating. It awakened my thirst for building my business. Thanks Mr Tycoon

    1. I am glad you gained from reading this.

      Thanks for your comment, I appreciate.

  2. Wow! Wonderful benefits. Thanks

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