Many people aspire to have great careers in the fields that interest them the most in their teenage years, and a lot of them even reach great heights.
However, not everyone wants to keep working to make others rich while only getting a small share of the pie or crumbs. They want to build something for themselves and be freer in life.
If you want a business, but it’s hard to let go of the steady comfort of the paychecks, you can always try to dip your feet in the water with easier businesses. For example, starting a trucking business can be incredibly easier than many others, and also requires less capital, just make sure to comply with the motor authority.
Whether you’re considering starting with a side hustle or fully immersing yourself in a business, here are a few reasons why self-employment trumps a job.
Better Control of Your Life
Working a job means you have to stick to a schedule laid out for you by your boss. You have to be at work when they say, and you can only leave after completing your set hours. While some employers do let you take days off when you really need to, the regular day-to-day is fixed.
When you’re running a business by yourself, no one can set the hours for you. The business you choose to pursue and the market you will be targeting will be the deciding factors for your hours, and you can choose anything in the world.
This means you have total control over the timings when you’re working and when you’re tending to your personal commitments. While you may have to sacrifice some aspects of your personal life when you start a business, you make your hours.
Put On Different Hats and Learn New Skills
At your current job, you’re likely to have a job title and a number of duties that come under that role. You won’t be doing anything that does not come under your role. For example, an accountant won’t also be in charge of getting new clients or getting insurance.
As a business owner, you can have the experience of what it feels like to put on different hats at work. It will be a great way to experience other things and learn new skills on the way. It can also be a great way to find a part of the business that you love doing the most. You will experience what it is like to be a receptionist, accountant, business manager, marketer, and much more.
Not Cap On Your Earning Potential
With a job, you normally have a fixed salary with benefits. For some types of jobs, you may even have a variable component in your pay based on sales, revenue, or some other target. However, it is likely that you will never pass a certain figure that is the most pay anyone gets in your field of work.
A business allows you to have complete control over how much money you make. Depending on the type of business you get into, you can increase your earning potential by a landslide. While it won’t be easy to grow your business and reach certain heights quickly, you accomplish anything with a business in the long run.
Road to Financial Independence
Many people around the world crave financial independence. While for some, it means having enough savings in the bank to retire, for others, it means having enough cash-generating assets that you don’t have to actively work anymore.
If you’re in the latter, you already have developed a business understanding and have an advantage over people just starting out. If you aren’t, there is no need to worry. You develop an asset whenever you have something that generates cash flows for you, and a business can be the first step on the road to owning assets. Especially with inflation, it makes more sense to own assets than to put money in a savings account. After all, isn’t retiring more fun when you still have a good income without working?
Be The Boss You Always Wanted
Working a job, you may have sometimes felt that your boss didn’t do something right and that you would’ve handled a situation differently if you were in their place instead.
Well, running a business allows you the opportunity to become a boss yourself when you hire employees to become a part of your growing organization. Then, you have the chance to be the boss you always wanted and handle things your way without anyone above you making the rules.