Top 10 Reasons to Be Your Own Boss

Written by on November 11, 2012 in Career - No comments | Print this page

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In business there is nothing more rewarding than starting and growing your own business. In this way you can free yourself from all the restraints and burdens that come from being just an employee in a company. There are plenty of reasons that can make a job burdensome but here are the 10 best reasons for taking the risk and becoming your own boss.

1. Increased job security

Imagine making a 5-year life plan without having to worry about losing your job due to downsizing or outsourcing. If you are your own boss then you are the only one that can decide when or if you leave the company. The Bureau of Labor Statistics reported that in 2009, at the height of the recession there were 11,452 layoff events in addition to 2,023,392 firings. According to the BLS, a layoff event is a layoff involving 50 or more people. If you own a company you are assured to never be included in this statistic.

2. A sense of ownership

The same pride and satisfaction that comes from owning a home or a car can also be felt by owning a business. You are fully responsible for the success of your business. As the business grows you will feel more job satisfaction. This is something that does not necessarily come from simply being an employee of a successful company.

3. You control your time

Have you ever had to pull teeth in order to get work off in order to go to a daughter’s dance recital or a mom’s birthday? Being an employee means that you must work around someone else’s schedule. This is something that does not happen when you are your own boss. You decide when you work and for how long. Although successful entrepreneurs do not typically work less than a 9-5 employee (growing a successful business from the ground up is hard work), you can choose times that are most convenient to you.

4. Freedom to create

If you are your own boss then you can focus your efforts and creativity on things that you care about. You can see your vision come alive without any outside pressure to change or modify it. This will undoubtedly lead you to do your best work. Work you can be proud of.

5. Larger share of the reward

When your company succeeds you are guaranteed the largest share of the profits and recognition that come with success. You will never have the frustration of working hard and helping to generate large profits all the while knowing that you won’t see most of it.

6. Define your own sense of purpose

When you are your own boss you can determine not just what you do but why you do it. You get to see the bigger picture and can let that determine where you allocate your own efforts.

7. Working where you want

If you have had to move because of a work transfer or promotion, you know how complicated that can be. You may not like the city that you were sent to. It might not have good schools for your kids. It may be far from friends and family. As your own boss you determine where you work and also where you travel to.

8. Decide who you work with

During your professional life time you will spend more of your waking hours with your coworkers than your family. A study by the American Psychological Association showed that a significant amount of the stress felt at work comes from coworker interaction. Wouldn’t it be nice to pick who you worked with?

9. The ability to do multiple things at once

If you are already an entrepreneur and you have another great idea for a business then you most likely have the freedom and financial flexibility to pursue it. If you have hired great people at your first company then you can trust it will continue running smoothly as you devote more time and effort getting your next successful venture off the ground.

10. Help other people

Anyone that has started a business knows how much power it can give to help people. Even if the product or service that the business sells is not something that you would call service you can still get the satisfaction that comes from helping others through the jobs you provide to others. You are directly involved in providing other people’s livelihood and that can feel pretty good.

About the Author: Robert Cordray is a freelance writer for Income.com and expert in business and finances. With over 20 years of business experience, Robert is now retired and hopes others can benefit from his writing.

Image courtesy of Michal Marcol / FreeDigitalPhotos.net

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