If you’re like most people, you’ve probably thought a time or two about what it would be like to be your own boss (I know I have!)
According to Pew Research Center, 10 percent of the U.S. population is self-employed.
Although self-employment may seem like a small percentage of the workforce in the U.S., there is an increasing number of people that wish to be, or would prefer to be self-employed. In fact, a Dartmouth Study on Unemployment, says a whopping 70 percent of people have a desire to be their own boss (I mean, why not?!)
Many of the articles I’ve read indicate all the trouble-free reasons why you should be your own boss… the shorter hours, the bigger paychecks, the less stress… and then reality kicks in. Although this might be true for some entrepreneurs, it’s really not the case for most.
So what really makes it worth working for yourself? Here are twelve realistic reasons to be your own boss.
1. You Call the Shots
Of course, this is one of the more obvious reasons because you don’t have to be a “Yes Man” to anybody other than yourself! You make all the calls, and you get to decide which direction your business will grow… without the heavy hand of a superior beating down your ideas!
2. Realize Your Self-Worth and Abilities
Being a business owner will push you — push you into areas out of your comfort zone. You’ll work harder and longer than you ever thought you would. But what’s great about it, is that you’ll love that work and actually have motivation to do the things you’re doing. You’ll become strategic and develop a mindset you never knew you had (or never been able to use before!).
3. Your Success Depends on You
A lot of people will say, “Oh, you can work as little or as much as you like!” Okay, let’s be real… if you want to make money, you’re going to be working… a lot!
Phil Robertson didn’t always have the care-free days making duck calls as portrayed on Duck Dynasty. How did he start out? With a Master’s Degree he wasn’t going to use… with an idea he had… and with a work ethic like no other. He fished, and that's how he paid the bills and put food on the table. He did what he could, and what he had to in order to keep things going at home as well as grow a business. He knew it was going to be hard, and it was… but it paid off!
4. Take Control of Your Schedule
I’m not going to say you can work less, (I’ll reiterate, if you want to be successful, you’re going to be working a lot) but now you’ll have the freedom to control when you put those hours in. Take your kids to school or dance practice. Have family time — work at night when everybody else is in bed. You don’t have somebody telling you where and when you have to be somewhere, when you can take your lunch or when you can go home. It’s up to you!
One of the main reasons why people want to work for themselves is so they don’t have to answer to their boss anymore. No more explaining why you’re five minutes late, why you need Thursday off to attend an important family event or why your lunch break was ten minutes longer than usual. You only have to justify these things to yourself.
This doesn’t mean self-employment is a free pass to become lazy — it means you can use your time how you see fit. You might take an extra ten minutes for lunch because you need the time out, but you might also get a few things done on the weekend because it suits your schedule.
“Your time is limited, so don’t waste it living someone else’s life.” — Steve Jobs
5. Work-From-Home Possibilities
Depending on the type of business you choose to start, you might have some work-from-home possibilities. Which is great! Well, it is for some people, or it could be distracting for others.
If it’s just a laptop you’re working from, an at-home office is definitely a possibility, or even just a cozy couch! For others, you might begin at home or in the garage, but later grow to have your own office space or work space outside of the home.
6. Express Your Creativity
Being your own boss allows you to be creative… either as little or as much as you want to be. Be creative with your ideas to grow your business, marketing plans, designs, craftsmanship, etc. You can make it your own!
7. Enjoy the Work
Like I said earlier, you’re going to be working… a lot! But what makes all that work worth it? The fact that you’ll like what you’re doing. When you make the decision to start your own business, you’ll probably base your business around the things you enjoy doing, things you’re good at, or something you have an interest in. Because of that, you have motivation to work longer and harder to achieve your goals.
8. You will learn invaluable skills
When you work for yourself, accountability is on you — and ultimately, you only get paid when you work. This means that if you want to succeed you become self-disciplined, develop better time management skills and learn the meaning of being conscientious. When you work for yourself, you have to make things happen for yourself — and discovering how to do that will teach you invaluable problem solving skills.
9. You can work towards something you are passionate about
Some people work for an organization that they are truly passionate about, and that’s a great position to be in. However, many employees don’t find their employers inspiring; over time, it becomes harder to work for a company you simply don’t care about. When you work for yourself, you have the opportunity to follow your passion and work towards something you love. At the very least, every effort made is done to benefit you — rather than line the pockets of someone else!
10. You can travel
Working for yourself means that you can work from home, a shared workspace — or even while on the road.
Being your own boss gives you the opportunity to travel and work — without having to pick fruit, serve beers or sell dubious products along the way to fund your trip. As a freelance writer who has travelled Australia for nearly a year and half — and earned more than enough to cover expenses — I know it can be done.
My self-employment path traversed the busy highways of the east coast, rode out the corrugated dirt roads (and limited mobile reception) of the Northern Territory and crossed the endless stretch of asphalt they call the Nullarbor.
While operating out of a 1995 Hiace van isn’t the most efficient way to work towards becoming a self-made millionaire, it offers you something many jobs cannot — the opportunity to travel and work at your own leisure.
“To travel is to take a journey into yourself.” — Danny Kaye
Whether your own self-employment journey results in the creation of a successful entrepreneur, a well-travelled freelancer, or someone who returns to the nine-to-five workforce a little wiser, it is time well spent. The lessons you learn are invaluable; whether you make millions or just enough to travel the country, you’ll be richer for the experience.
11. Leave a Legacy
Developing and growing your own business from the ground up is definitely an accomplishment, but what’s even more of an accomplishment is developing a legacy; something that only comes from expertise, work ethic and trust. Leaving such a mark on your community is a highly distinguished honor and something to take pride in as it becomes a family tradition passed down from generation to generation.
Whether you remain working for yourself long-term or eventually return to a nine-to-five job, these skills will serve you well and will help you achieve success no matter what you end up doing.
12. Age Doesn’t Matter
That’s right! Age isn’t a factor when starting your own business. All it takes is an idea and motivation.
Of course, different stages in life have different obstacles to overcome. Those who are in their younger years might have difficulties finding money or funds. Those in their 30s or 40s might have a difficult time balancing business time and family time. Those later in life might have a hard time finding energy for all the work, or keeping up with an ever-changing fast-paced world.
However, that’s the nature of an individual with an entrepreneurial spirit, a willingness to push past fear and overcome obstacles.
13. Your only limitation is yourself
When you work for yourself, you’re only limited by your skill set and work ethic. The more you learn and the harder you work, the greater the potential to find success and earn more money.
You don’t have to wait for a promotion or spend years climbing that corporate ladder. If you want to earn more, you will learn to work harder and smarter in order to ensure that pay rise happens.
14. You’ll Have a Story To Tell
One of the greatest ways you can inspire others to be their own business owner is to tell your story. Yes, you have a story to tell.
Those late nights, those looming moments of doubt, the days when your bank account reads $0.98, but you still poured everything into your business — they’re all a part of your story. And what a powerful thing it is. It’s a reminder, a motivator, an encourager. You’re a success because of your failures. Your story is the premises on which the foundation of your business lays and the preface to your legacy. Be proud of it!
15. Feeling of Accomplishment
One of the greatest things about being your own boss and being a business owner is that overwhelming feeling of satisfaction and accomplishment. You have a reason to get up in the morning, you have a job you enjoy and you make a difference. You have a sense of completion and freedom from the burden of the everyday grind.
Being your own boss is one of the most enjoyable and hardest decisions you will ever make. There’s no time like the present to take that leap and enjoy the benefits as well as prepare yourself for tough times. Create an idea, establish your goals and get to work. You’ll be glad you did.
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