5 Reasons Why You Should Start Your Own Business

February 19th, 2010

Table of contents for Get a Job or Start a Business

  1. 5 Reasons Why Having a Job is Better Than Having a Business
  2. 5 Reasons Why You Should Start Your Own Business

Yesterday, I told you why having a job is better than having a business.  Today, I’ll give you 5 reasons why having a business is better than having a job.

Disclaimer: When talking about having your own business, I am referring to a real business—not the fake get-rich-quick businesses.  Also, I do not consider Amway or any MLM to be a business.

1. Unlimited experience

They say a business owner wears many hats.  It’s true.

But when you work at a job, you tend to get pretty good at the one thing you do.  But when you run a business, you acquire a whole new set of skills.  In my case, I worked as a writer for one of my former companies.  But when I started running my own company, I became the accountant, marketer, lead salesman, and whole lot more.  I learned more in one year of running my own business than I did working 5 years at a company.

In fact, the marketing skills I developed while running my company gave me opportunities that are STILL paying dividends literally and figuratively.  I never would have learned any of it if I had stayed an employee.  There was no need to.

With a job your experience is limited.  As a business owner, the sky’s the limit.

2. Your only limit is your ambition

When you own a business, you are only limited by your ambition.  If your goal is to become fabulously rich, then you can grow your business to meet that goal.  If you want to stay small to maximize your free time, then you can create a business to meet that goal.

A job simply does not let you do that.  If you’re ambitious, you have to hope a boss likes you enough to give you a promotion.  Sometimes the best office politician is the one who gets rewarded, not the most qualified.

If you want to limit your job to maximize free time, your boss will probably send you packing.

But if you have a business, you can make your business smaller to do this.

3. Make more money

It is true that the income of a job is steadier.  But you can make more money having a business.  A business gives you the greatest opportunity to make money.

If you work to grow your business, you could earn more money in one day than you did in a whole month working for a company.  This was my experience and the business I was running was small by design.

Imagine if I REALLY wanted to grow it.

Another thing is that a business rewards your results.  If you’re good at your business, you earn more money from your labors.

A job?  You get paid to show up.  And how many of you seethe that Joe Slacker makes about the same amount of money you do and does ¼ of the work?

When it’s your business, you can actually get paid what you’re worth.

4. Greater control over your own time

A business allows you to take greater control over your time.

This is one of the greatest benefit to having your own business—setting your own schedule.  If you have kids, this is especially important.

Now, it’s not always possible to have any schedule.  As I noted in an earlier post, you can be on-call 24 hours a day when you are an owner.

But you’re not working all 24 hours.

A job means 9-5 (or worse).

With my business, I would drop the kid off at school, go to the gym, and then run some errands.  Shopping at 11AM is wonderful. No one’s there.  I lived a beautiful off-peak life.  Doing things while other people are working makes everyday tasks move faster.  Hence, you save your valuable time. And if you have a business that allows you to work from home, you can even more advantage of your time.  No commuting!

Go to the gym at 5:30 and see what happens.  Go to the grocery store at 7:00PM.  The crowds cut into your time.

A business gives you the greatest amount of control over your time because you can get things done while other people are working at their jobs.

5. You control your own destiny

If you value your freedom, then a business beats a job HANDS DOWN.  A business gives you the opportunity to implement your vision.  It gives you a chance to leave your mark on the world.

Are you socially conscious?  Then you can start a business that follows your socially-conscious vision.

A job, on the other hand, means you have to implement someone else’s vision.  And that vision might run in direct opposition to your values.

A saying that I once heard and completely agree with goes something like this: You can’t be more honest than your boss.

Let that sink in for a bit.  I’ve worked for people that I thought were the most dishonest people in the world.  I watched them lie to customers and lie to the higher-ups.  These people gave the company a reputation for being dishonest.

When I saw this I thought to myself, if I were the boss I would fire that guy’s ass.  But was he fired?  Heck no.  HE was the boss.  And if I complained, I was shown where the door was.  And not only was this boss dishonest, he was REWARDED for his dishonesty.

But when you have your own business, you CAN fire people who don’t follow your values.  In fact, the greatest freedom you have is being able to hire whomever you want. Work with the people you want to work with.

Don’t like people that much?  Start a business that has NO employees.

These are freedoms a job just does not offer.

And if you ask me, this is the #1 reason why your own business is better than having a job.

It’s not always about money. It’s about freedom and taking control of your own destiny.

A business gives you that freedom.  A job doesn’t.

Conclusion

A business gives you the greatest opportunity to live life to its fullest.  You get the chance to earn more money.  But more than that, a business gives you the opportunity to live life ON YOUR TERMS.  That kind of freedom is just not possible when you work for someone else.

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