Are you considering starting your own business? Then you can bet that you are not the only one dreaming of becoming your own boss. It has emerged that the dream of self-employment is snaring more Americans as days go by with a new CNN/USA Today/Gallup opinion poll showing that 57% of Americans would rather be their own bosses than work for someone else.
These statistics may be alarmingly high, but they are understandable nonetheless, after all, the benefits that come with self-employment are self-explanatory. To begin with, as your own boss, you get to call the shots; you create your own schedule, you delegate boring tasks, you make more money – the benefits are endless.
But there is more to owning your own business than calling the shots and making more money. Here are 5 more benefits of starting your own business that you’ve probably not thought of:
1. The Pride That Comes From Creating Something of Your Own From Scratch
According to Michele Ellis-Williams, business coach and consultant, one of the biggest benefits of working for yourself in preference to working for another person is the sense of pride you will experience after creating something of your own from scratch.
“Nothing brings more satisfaction like watching your business thrive through your own ideas, abilities, and efforts,” say Coach Michele, who coaches business-minded individual through her business Michele Lee Consulting, LLC.
“It’s actually the best feeling you will ever experience in life. You had a dream, you executed it, and you are reaping the benefits,” continues the Coach.
2. Following Your Passion
The truth is that starting a successful business will by no means comes easy, but the long hours you will invest in building your business will hardly feel like work because you will actually be enjoying what you do. Once you start your own business, work will no longer be an unavoidable, dreary obligation, but a passionate hobby you can hardly wait to get to.
“For me, starting my own business is still the best decision I ever made – I love my job and the fact that I make a comfortable living simply doing what I love most makes it even more appealing. I figured I spend most of my day working; so why not make work my passion? ” says Coach Michele.
3. Tax Benefits
There are some very interesting tax perks for entrepreneurs that you can take advantage of by starting your own business. With some of these perks, you may be in a position to write off some expenses like food, phone bills, travel, and so on. Your business may even qualify for some government incentives, but this will depend on several factors including the kind of business you wish to establish. Talk to a business coach or consultant, such as Coach Michele, or a tax expert to find out what tax benefits your business may qualify for.
4. Job Security
Only a person who has ever been fired, laid off, or downsized can understand this point fully. When you are your own boss, you automatically call the shots or run the show and you, therefore, don’t have to worry about the security of your job.
5. Job Creation
As expected, starting your own business will create jobs for other individuals and the feeling that your dreams, ideas, and efforts have provided an opportunity for someone to provide for his or her family is simply amazing.