Top 10 Perks of Being Your Own Boss
If you're thinking of starting your own business, the perks of being your own boss may just convince you that it's worth the risk.
Even if you love your job, probably think about being your own boss sometimes. You could run things the way you want and not take orders. Of course, taking on the responsibilities of running a business is scary – what happens if you fail? If you’re thinking of starting your own business, the perks of being your own boss may just convince you that it’s worth the risk.
1. Work That Makes You Smile
Life is what you make it, so why not make each aspect of your life as positive as you possibly can? If you don’t enjoy what you’re doing during your office hours, that’s going to seep over into your home life and take a toll.
When you’re your own boss, you have a unique chance to shape your days the way you want to. You can pick and choose the work that you like and focus on what makes you smile. Even if your day-to-day work life has some aspects you don’t enjoy, as the boss you can outsource the chores which make you cringe and focus on the tasks that make you happy. Plus you choose the overall direction of your business, which means you’re more likely to be happy with the work in the first place!
2. Flexible Work Locations
The beauty of modern technology is that if you have your laptop and smartphone, your office is wherever there’s wifi. If the idea of the daily cubicle grind gives you a case of claustrophobia, then this perk may be especially enticing.
Technology keeps us all so well-connected that no matter how remote your location, you can set up mobile offices virtually anywhere. Some of this freedom will depend on the type of business you run, of course, but even brick-and-mortar shops will give you room to work on the books, marketing campaigns, business planning, and other tasks from anywhere you want.
3. Ditch The Commute
Brutal commutes can challenge the patience of even the most dedicated road warrior. Studies show that long commutes have been correlated with higher levels of stress, anxiety, and depression.
When you’re the boss, you control the work, but you also control how long it takes you to get to work. Want to commute one minute to your second-floor home office? Or to your local coffee shop? And you can choose to locate your business wherever you want – maybe that’s right in your own neighborhood so you can walk to work! What will you do with all that new-found free time?
4. Ultimate Autonomy
Even if you have a fantastic working relationship with your current boss, they’re still the ultimate factor in calling the shots in your professional life. Being your own boss affords a level of complete autonomy that working for another person doesn’t. You get to decide how you do business – where to source your materials, how you treat your vendors and customers, how you manage your marketing, and every other aspect.
5. Hiring Others And Giving Back
One of the best perks about being your own boss is that you not only get to create an amazing job and work environment for yourself but for others, as well. By creating your own company and hiring staff, you’re giving back to others, as well as to the local and national economy.
You also have the opportunity to give back to the local community beyond creating jobs. That may mean offering internships or mentoring to local kids, sponsoring events for local charities, or anything else you can dream up. More businesses than ever are incorporating social change into their models and being your own boss means you can choose to do the same.
6. Learning A Ton – About Everything!
No matter which field you’re in or what kind of company you start, being your own boss requires a brand new skill set (or four). Learning to run a company will teach you about accounting, hiring, marketing, supply and demand, outsourcing, tech “¦ just to name a few. As a result, your skill set and expertise will practically explode as you learn the ropes of how to wear all the different boss hats.
7. You’ll Reap Financial Rewards
Part of being your own boss is that you get to decide how to spend the money. You also get to call the shots on how much you earn. If you want to take several weeks of vacation, you may earn less that month. If you want to put in longer hours and boost sales to save for holiday spending, then that’s your call, too.
You have the ability and power to make your financial decisions regarding your business. The business itself is valuable and you can set your own salary and those of your employees – no more waiting for a tiny annual raise!
8. A Schedule That’s Yours Alone
When you’re working for someone else, your work hours are at their discretion. When you work for yourself, you have the freedom to control your own hours and your own schedule.
It’s true that starting up a new business can require long hours while you get off the ground. However, once you get past that start-up hurdle, you’ll find that you ultimately have more freedom with your time and work schedule. This is especially great for people with families – you can start work early so you have time to get to your kid’s soccer game or take a weekday off to go on a field trip.
9. Broad Creative Expression
When you’re the boss, you can express your creativity in your day to day life. Even if you’re not in a creative field, being your own boss allows you to flex your creative muscles on a daily basis. You can try out new strategies across the board and find ways to make your business better – and you’re the one that will benefit from that creative thinking.
From marketing, branding, PR, problem solving, technology – all of these tasks allow you to innovate and think outside the box. When you’re the boss, you can literally reinvent the wheel.
10. A Deep Appreciation For What You Do
When you’re the boss, you know the hopes and dreams that go into building a business. You also know the blood, sweat, tears, and hard work that went into building your dream.
Since you know exactly what goes into starting up and growing your company, you won’t take a single day of work for granted. You’ll know that what you’re doing is meaningful, impactful, and fulfilling. Each day will reinvigorate your motivation and commitment to growing your company. You’re building something that’s truly yours.
The Bottom Line
Being your own comes with some risks, but it also offers some pretty terrific rewards. Many of us have dreamed about it, but few of us really take the leap. Isn’t it time you started your own company and controlled your own professional destiny?