You probably heard plenty of people say that starting their own business was the best thing they ever did. They finally took the plunge by walking away from their day jobs, and while it was difficult at first, they stuck with it and now are happier than ever. Becoming your own boss does more than break the chains of a 9-to-5 job; it can change your entire life. If you’re considering starting a business, you’ll want to read on to learn how becoming your boss can change your life.
You Can Feel Passionate About Work
Working to make ends meet and working because you’re passionate about what you’re doing are two very different things. When you become an entrepreneur, you can look forward to going to work and making your dreams come true. If money is what’s holding you back, you need to create a financial strategy. For most, the scariest part of leaving their full-time job is not having enough resources to cover their monthly expenses and get their business off the ground. That’s where financial planning comes into play.
Some entrepreneurs save up for years before quitting their regular job; others decide they want to act immediately, so they apply for a business loan, start a crowdfunding project, or ask friends and family to act as investors. If you choose to get a business loan, you’ll have access to more than just funding. With the right connections, especially if you network prior to choosing a lender, you have ongoing support from other business owners who have been exactly where you are. And it’s this ongoing support that makes getting your business off the ground easier than when you do everything alone.
Become Financially Independent
Even if you manage money like a financial guru, managing small business finances is different and being your own boss still boosts your financial independence. When you work for someone else, you show up, do your job, and collect a paycheck. You don’t have to worry about creating budgets that streamline the business. However, as your own boss, you need to account for every penny you earn and invest. This means learning or improving how you manage money. For many, it’s a real eye-opening experience, which teaches them how to achieve true financial independence.
See Potential in Everyone
As you venture into entrepreneurship, you start to see the world differently. Ideas become possibilities and you start to see potential in the people who work with and for you. For instance, say you hire a high school student to run your social media a few hours a week. They really do a great job boosting your brand’s online presence. As time goes on, you realize they are really good at what they do and are a valuable part of your team. You offer them a full-time job after graduation because you saw their potential. Becoming your own boss just changes the way you see people for the best.
Turn Criticism into Feedback
It’s human nature to feel offended when you’re criticized. You may think that others should keep their opinions to themselves. However, once you work for yourself, especially if your company is B2C, you use criticism as a way to improve. You see it as feedback and take the time to find out why that customer felt that way.
If the last time you read a book was when you were in school, that’s about to change. Entrepreneurship is all about learning as you go, so you’ll find yourself reading more about ways to be successful, manage time and money, and create the life you really want.
Feel Proud of Yourself
As you continue to grow and reach your goals, you’ll feel proud of yourself. Even if things don’t go according to plan, just knowing you tried your hardest will make you feel accomplished. You’ll also start to appreciate the journey of being self-employed, and focus more on the present moment.
Take More Risks
When you’re an employee, it’s easy to play it safe and not take chances. However, as your own boss, there are times when you have no choice but to take a risk. Whether it’s launching a new product or targeting a different audience, it’s just part of the process. If things don’t work out as you hoped, you’ll see it as a learning experience, not a failure.
When you work for someone else, most of the responsibilities fall on their shoulders. But as the head honcho, you’ll learn to be more accountable in everything you do. If you order the wrong supplies, you know next time to be more careful before submitting your order. If you hire someone who doesn’t really know how to perform their duties, it’s you who will have to either train them or possibly hire someone else.