In collaboration with Adam Pepka
Owning your own business comes with a significant amount of responsibility, but it also provides the freedom to be your own boss. You get to decide how things are run and promote your products and services in your way. Despite the added responsibility, there truly are many perks to having no one to answer to and owning a business you’re proud of. In this article, we present the four best benefits of owning your own business.
1. Your Ideas Come First
Owning your business immediately puts you in the driver’s seat. Rather than competing with other employees over promotions, project concepts, and marketing decisions, your ideas are always considered first. You should, however, welcome employee suggestions and be collaborative to create a positive workplace. You will never feel overlooked or under appreciated if you own your own business because your ideas come first.
2. You Can Control Your Earnings
Depending on the size of your business, you may have more control over how much you take home. For one thing, you have total control over how many hires you include in your business. If you’re willing to do more work to achieve more, you can subtract less from your total earnings to pay employees with less staff to cover. Small businesses tend to include a small staff team for this very reason, and that’s why tools like payroll for one employee exist. If your business is larger or requires additional help, you can still control your earnings by selecting, on your own, the suppliers and manufacturers that you want to work with; this means you can wait to find those with the best deals to save you money. Businesses do run into hiccups, so while it may not be possible to have total control of your earnings, you can definitely take steps like these to have more say over how much you make. Everything moves closer to how you want it when you run your business.
3. You Can Create Your Ideal Workplace
Employees follow the workplace culture that is already imprinted into the company. Often, that culture is toxic and forces workers to put their own work dynamic preferences aside to save face. Instead of hiding your workplace mentality behind pre-established ideals, you get to create your own ideal workplace and instill your own culture, expectations, and general environment that feels right to you. With more creativity to do things your way, you’ll enjoy work more, and your positive energy will likely improve staff attitude as well. Ultimately, your workplace environment can be a positive one for everyone when you take the initiative as the boss.
4. You Can Follow Your Own Schedule
Instead of abiding by the standard 9 AM to 5 PM shift, your Monday to Friday can look entirely different given your power to create and follow your own work schedule. Following your own schedule not only gives you the freedom to control your working hours but also how your entire day goes. Creating your own schedule gives you more time to do other things you need to get done throughout the day. If your ideal time for a workout is at night rather than the early morning, you can decide to sleep in, work at noon, and head home just in time for your nightly jog.
The Bottom Line
Owning your own business does mean that all of the responsibility falls on you, but much of that weight is lifted from your shoulders when you consider all of the benefits that come with owning your own business. Here’s to sleeping in and working on your own terms.