If you’re an entrepreneur, you may have heard the million reasons not to go into business: It’s too risky, you might go into debt, you’ll probably lose sleep, your social life is kaput, and the list goes on. But even with all these uncertainties, people are still attracted to the startup world. There are just as many, if not, more reasons to take the leap and go start your own business. Here are just a few:
1. Spare time
This one can take some time. Initially you’ll work longer hours for less pay. But if you do it right, you could start to master your schedule and the freedom that being an entrepreneur provides is awesome.
2. Tax benefits
For entrepreneurs (freelancers included), they have the opportunity to take advantage of some nice tax perks. Many can write off expenses like travel, food, phone bills, portions of car payments, and the list goes on. Also, certain startups qualify for government incentives. Make sure to ask your accountant about what tax benefits you may be eligible for.
When you build something successful, it’s a great feeling. You had a vision, were able to execute it and not can reap the benefits of saying “I did this.” On the other hand, it’s tough to be proud of the zillionth request for proposal you fill out for your employer.
4. Your posterity
If you’re a doctor, plumber or bus driver it’s hard to imagine you passing your career on to your loved ones. But if you own your own business, that’s something you can pass on to the next generation. And be proud of it, because you created it.
5. Job security
Have you ever been laid off, downsized, or fired? If you have, you get this. With entrepreneurship the security lies in the fact that you are your own boss. You run the show and don’t have to worry about getting let go.
Entrepreneurs are communal creatures who love to meet each other, swap stories, and learn from each other’s experiences. Your circle of friends and acquaintances always grows when you become an entrepreneur, as many founders need others to lean on to survive and talk about the challenges only known to them.
7. Doing good
While this isn’t exclusive to entrepreneurs, it’s definitely a perk. You control where your company profits go and if you choose, you can give allocate your financial gains to others. You can sponsor a charity, a non-profit or just personally give back to the community. This is quite honestly one of the best parts of being an entrepreneur.
We, as humans, love new experiences but rarely can you experience a host of new things from inside your cubicle. This all changes when you are running the show. Starting your own business will ensure you’ll always be facing new challenge and experiencing something new.
Learning from the masters and getting to help those less experienced than you gives you such a sense of satisfaction. The entrepreneurial community is very willing to give back and lend a helping hand.
10. Becoming an expert
This point goes along with mentorship. Regardless of what you do as an entrepreneur, if you stick with it, you’ll probably become very good at it. And this gives you a sort of soapbox, so use it. You’ll have the chance to be interviewed for your expertise, write about it and get to spread your message.
Developing your new skills acquired from running your own business can be tough, and takes time. But it can also pay off in spades. These skills will be invaluable throughout your life.
Everything you’ll do as an entrepreneur will surely affect your personal life. Being an entrepreneur will teach you how to become dedicated and determined to causes. You can be better at being a father, mother, husband or a wife because of the determination that you learned.
There are literally thousands of local, regional and national awards that recognize entrepreneurs in every field and industry. This shouldn’t be your only reason to start your business, but it certainly is a great feeling when you receive this recognition.
14. Financial independence
Let’s be honest, this is probably the biggest reason people get into business for themselves. And that’s a good thing! You should want financial independence. However you define financial independence – retirement stockpile, unlimited cash potential or having the money to buy what you want — entrepreneurship can allow you to achieve it. Money doesn’t buy happiness, but it does make finding happiness much easier.
15. Change the world
Everyone jokes that every entrepreneur says they’re going to change the world. It’s difficult to imagine how a cell phone accessory kiosk in the mall is going to change the world. But there are those that do succeed. Take a look at Elon Musk, Bill Gates, Sergey Brin, and the countless other entrepreneurs who really have changed the world in some small (or major) way.
16. Create jobs
There’s nothing like the satisfaction of knowing you’re responsible for the success of your employees. Your ideas provided them the opportunity to earn a living, provide for their family and fulfill their own dreams.
17. Your brand
Being known for something is awfully enjoyable. People may start referring to you as the marketing guy, or the retail maven or the software guru. Whatever it is you’re recognized as, it’s fun to build that brand and earn that recognition.
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