HomeBusinessSMEChat: 10 reasons why you should run own business in 2011

SMEChat: 10 reasons why you should run own business in 2011

Here are just 10 of them:
You control your own destiny. Many people are not satisfied with working for someone else. They want to be in control, making their own decisions and setting their own future. You can only do this when you are running your own business.
You don’t have to beg for a job. With the high level of unemployment in this country, and with the gloomy prospects for new jobs creation, starting a business is the most viable option to get an income.
You can find your own work/life balance. Running your own business gives you the benefit of flexibility. You set your own working hours, wherever you want; you can even work from home in the middle of the night and do other things during the day.
You choose the people you want to work with.  Employees rarely get the chance to choose their co-workers, if you don’t like your colleagues you better ship out. When you own the business, you make the decisions on who to hire or fire. This allows you to surround yourself with positive people who can give you the confidence you need to keep on moving forward.
You can get rich. Entrepreneurs take the risk and reap the rewards in business. As an employee, you are only entitled to an agreed salary. As the owner, the more money the business makes, the more you also get. And as you become good in the game of spotting good business opportunities, nothing will stop you from becoming a millionaire or more.
You can do the things you love. The best business to start is one where you do the things you love. That way, you make money while having fun. There are many entrepreneurs who have turned hobbies or crafts into successful businesses. For example, Dennis Anderson fell in love with soap-making while in a chemistry class. He then started making organic soaps at home in 2007, a business which has now grown into a profitable empire.
Your life becomes more exciting. Most people get bored from performing the same chores day in and day out, which is standard at most jobs. As an entrepreneur, you face different challenges and opportunities everyday, which will force you to be creative and learn new things.
You enjoy self-fulfilment.  Doing something that you love, being your own boss and being in control of your income are fulfilling. You get satisfaction from creating something of value, the feeling of achievement that humans long for. There is nothing like being successful through your own leadership, skills, sweat and tears. It’s the highest of Maslow’s hierarchy of needs.
You make a contribution.  Many entrepreneurs are able, and love to give back to the community. Employees don’t often get that opportunity, but when you run your own business you can choose which charities to give to and what beneficial products and services to produce.
You can reduce unemployment.  As a business owner, you can contribute to reducing unemployment by creating jobs for people in the community you operate from.
I hope one or more of these reasons convinces  you to get up and start working on your plan for starting a business. The free e-book “101 Tips for your business in 2011” is now available. Those who haven’t received copies may request by email.

Phillip Chichoni is a business planning consultant who works with SMEs and entrepreneurs.  His e-mail address is chichonip@gmail.com.

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