Photo credit – yjil.org
1. Financial security
Let’s face it; even in the richest countries, most people who work for others never make enough money to ensure that when they retire or when something bad happens, they still have enough to live on.
Starting your own business is a sure way to guarantee your financial stability because how much you earn depends on you to a large extent, which is a good thing. When your business makes more money, you earn more money.
Bill Gates’s stocks in Microsoft and other companies is worth several billions of dollars. If he chooses to sleep for the rest of his life, he will still die a very rich man. He is financially secure because he started his own business.
2. You have more control over your life.
Starting your own business puts you in control over your life because you end up doing what you love.
Most people are stuck in boring jobs they don’t like. Jobs which literally suck the life and joy out of them.
They have to be at work on a weekend when they’d rather spend time with their families.
Unfortunately they can’t quit because that’s their only source of livelihood.
The thought of ending up like that was one of my motivations for starting my own business so that I could have more control over my life, do the things I love and get paid for doing them
3. You will make more money.
Money is one of the major reasons why we work.
This one is simple. When you have your own business, you’ll make more money when your business starts booming.
If you work for your boss, there’s always a limit to how much you can earn but if you are your own boss, you call the shots.
You can then afford to live the kind of life you want.
True, money doesn’t buy happiness, but it makes finding happiness easier.
4. Jobs are becoming hard to find.
Every year hundreds of thousands of students graduate from school and join others before them to look for jobs.
In several countries across the world, unemployment rates have reached a record high.
South Africa , Greece and Spain all have unemployment rates exceeding 20%.
There is stiffer competition for the few available jobs. You’ll have to go through the stress of applying for several jobs and attending dozens of interviews before landing a job which you may not even like much.
With your own business, you don’t have to go through all that stress.
5. You have better job security.
Every day, many workers are laid off or fired by their employers. The company you end up working for could hit hard times and may have to downsize.
Also, the machines are coming! Very soon, machines will replace several jobs that humans currently do.
I am not a prophet of doom, but things don’t look too good as far as finding and keeping a long term job is concerned.
If you run your own business you are assured that you’ll always have a job to do.