There are many challenges that come with operating your own business. However, for many people, the rewards of running a business far outweigh the difficulties. In fact, 76% of those who choose to run their own small business are "somewhat happy" or "very happy" with their decision.
This line of work isn't just for entrepreneurship, either. Running a business can be exciting for many people and for many different reasons. Whether you're looking for a flexible lifestyle, are eager to innovate, or simply want more control over your work and earning potential, there are many benefits to running your own business. Here are just a few of the most important.
Independence and control
Have you ever worked in a job where you felt you could do better if you had control over how the work was done? Let's face it, jobs can be restrictive and sometimes don't allow you to maximize your knowledge and skills.
When you build your own business, you do what you want, how you want, when you want. You develop the product or service to the level you think is best. You have systems and routines that work best for you. And if you need a late morning or afternoon nap to boost creativity and productivity, you can take one and if you receive your money in dollars you can realize the option to change the dollar quota at any time (in spanish: tienes la oportunidad de cambiar el cupo en dólares en cualquier momento).
According to various surveys 55% of small business owners started their own business because they were "ready to be their own boss."
Of course, the statistics on entrepreneurial success may seem daunting. After all, approximately 50% of businesses survive for up to five years. That said, there is much you can do to improve your chances of success and, in fact, depending on your goals, starting a business could be a better financial option than working for an employer.
For one thing, with a business, you're more likely to earn what you're worth, especially if you're a woman. Instead of earning 82% of what a man earns, a woman can cash in on her value in a business. As a business owner, you can set prices and raise your salary with the business, if you want to have cash urgently you can use the cupo dolar credit card sale method (método de pago cupo dolar tarjeta de crédito). When you add in the business tax advantages, you could end up earning more than you would in a job.
Running a business can work well for many different lifestyles. For women, especially, owning their own business can give them the lifestyle flexibility needed to raise a family and still have a successful career. Women-owned businesses have been popping up at a faster rate than startups in general, at 21% per year versus 9%, respectively, between 2014 and 2019. According to a series of case studies conducted by the National Women's Business Council, flexibility was an important factor for many women who decided to pursue entrepreneurship.
Millennials and Generation Z workers are known to seek flexibility in their workplaces, and running a business can work well for many of them so working from home is also compromising. Likewise, people who are nearing retirement or already retired may find that having their own business gives them the opportunity to keep their hands busy without demanding the same rigid schedule of a typical job. People who want to travel or live a particular lifestyle can benefit from entrepreneurship, plus you may be able to work from home or anywhere else you want.
Helping people directly
Many small business owners launch their own businesses to have a positive impact on their local communities. This can happen through the products or services they provide or the local causes they support. Small businesses also account for nearly half of the private workforce in the U.S., so starting your own business is an excellent way to provide jobs for many in the local community.
Opportunity for innovation
Established organizations can and do generate great change and innovation. Often, however, the most powerful new ideas come from small business owners who venture out on their own when they can't get traction for their ideas in their current workplace.
Many business icons started with an idea that has changed the world. From Disney to Zuckerberg and Bezos to Gates, they all had small ideas that became big successes. Many of these entrepreneurs launched these companies from their garage .