7 Reasons YOU’RE the Boss: The Benefits of Starting Your Own Business

the legacy business school benefits starting your own business

So you work the hours that are expected of you (and the rest!), put blood, sweat, and tears into everything you do in your role, and help increase your employer’s profits. But what if you could take ‘your employer’ out of the equation, and put YOURSELF in that spot?

So many people have dreams of eventually becoming their own boss, starting their own business, breaking free from the 9-5 grind, and it saddens me that for many those dreams stay as dreams forever.

I understand people’s reservations – change can be terrifying, particularly if you’re leaving the safety net of a company pension, sick pay, holiday pay, a regular monthly pay cheque, and so on, but the exhilaration and freedom that come with starting your own business is incredible…take it from me.

With that in mind, here are 7 amazing benefits of starting your own business, for all those budding entrepreneurs thinking about turning their dreams into reality.

1. YOU set your hours

Being your own boss comes with freedom to do things your way, and that includes deciding what hours you work and when you work them. If you can get everything you need to do completed in just two days, then why not do it? You’ll have so much more extra time to spend with friends and family, or doing whatever it is that nourishes your soul.

It’s the same in terms of what time of day (or night!) you work. People tend to be different in terms of productivity levels, so if you get your best work done before the sun rises, or later on in the evening, go for it! You won’t have an employer dictating your hours, the freedom is yours to decide. Of course, there will almost certainly be times over the course of your business you’ll choose to work long hours, particularly at the start, but the difference is that it’s a choice that you’ll have made, and you’ll be the one benefitting from that work.  

2. You can explore your creativity

What is it that YOU want to do with your life? What is it that you love to create? When you take charge of your own destiny, you can follow the path your creative self wants you to follow. Instead of dealing with the day-to-day drudgery of a job where you feel your creativity being stifled, you can explore that side of yourself and make a success of your business at the same time.

3. You can turn your passion into profits

Developing a business based on your passion gives you the freedom to be yourself and an outlet for making a living doing what you love, which means you can transform your creativity, passion, and talent into money in the bank. Instead of putting your time and energy into what drives someone else, you’ll be investing in something you actually love, building your vision instead of someone else’s, and watch your innovation grow. When you’re following your passion, it really doesn’t seem that much like work!

4. You’re in control of your future

Being in charge of your own destiny may sound scary to some, but for born entrepreneurs like you and I, it’s an amazing prospect. Your future and financial security are in your own hands, and when it’s your own business, it’s you who controls the direction that business goes in. You decide the company culture, you choose the way you operate on a day-to-day basis, and you make the important decisions that steer the business. A lot of responsibility? Yes, of course, but wouldn’t you rather have that than be powerless in the direction your work goes?

5. You get to choose who you work with

As an employee, while you may have a say in who your direct reports are, you certainly can’t choose your boss or your colleagues, and I’m sure we all have examples of having to work with someone we really don’t get on with. While it’s easy to think ‘it’s only work, we don’t have to be best friends’, bad atmospheres and strained working relationships lead to unhappiness and low morale. Well, as your own boss, you choose who you work with – from clients, to employees, to freelancers, and suppliers. Who wouldn’t love that?

6. You reap all the rewards

There’s no doubt that having your own business comes with having to take risks. But along with that comes the REWARDS. You choose the level of risk you take in the various opportunities you come across, and as your business grows, so will your confidence. That means you’ll soon learn how to minimise risk and make the most out of good opportunities. There’s something extremely satisfying in reaping the rewards, financial and otherwise, when you’ve taken a risk, and that’s something you’ll rarely get working for someone else.

7. You’ll love the sense of pride that comes with it

That sense of pride as you watch your business bloom from the kernel of an idea to something wonderful. Your business will only be what you make it, and when the combination of hard work, talent, ideas, and decisions you’ve put into it makes it a complete success – the pride you’ll feel is fantastic. And you SHOULD be proud!

Starting your own business won’t necessarily be an easy ride, there will definitely be tough times when you’re first starting, but the rewards for all that hard work can be incredible. If you think you’re ready to make the change from employee to entrepreneur, I’ve got an incredible FREE resource for you. 10 Things I Need to Have in Place to Start a Successful Business is a valuable checklist that covers some of the basics you’ll need to be a success, and you can download it here.

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