If you’re an
entrepreneur you have heard the million reasons not to go into business: It’s
too risky, you might go into debt, you’ll probably lose sleep, your social life
is kaput, and the list goes on. But even with all these uncertainties, people
are still attracted to the startup world. There are just as many, if not more
reasons to take the leap and go into business for yourself. Here are just a few:
1. Spare
time. This one can take some time.
Initially you’ll work longer hours for less pay. But if you do it right, you could start to
master your schedule and the freedom that being an entrepreneur provides is
awesome.
2. A story
to tell. Whenever I tell someone I run my own business, they always want to
know what I do, how I do it and how it’s going. I always am able to provide a
tale or two, and the best part is that I get to determine the story's chapters.
(When working for a corporation, people most likely have less input.)
3. Tax
benefits. For entrepreneurs (freelancers included), they have the opportunity
to take advantage of some nice tax perks. Many can write off expenses like
travel, food, phone bills, portions of car payments, and the list goes on.
Also, certain startups qualify for government incentives. Make sure to ask your
accountant about what tax benefits you may be eligible for.
4. Pride.
When you build something successful, it’s a great feeling. You had a vision,
were able to execute it and not can reap the benefits of saying "I did
this." On the other hand, it’s tough to be proud of the zillionth request
for proposal you fill out for your employer.
5. Your
posterity. If you’re a doctor, plumber or bus driver it’s hard to imagine you
passing your career on to your loved ones. But if you own your own business,
that’s something you can pass on to the next generation. And be proud of it,
because you created it.
6. Job
security. Have you ever been laid off, downsized, or fired? If you have, you get this. With
entrepreneurship the security lies in the fact you are your own boss. You run
the show and don't have to worry about getting let go.
7.
Networking. Entrepreneurs are communal creatures. We love to meet each other, swap stories, and
learn from each other’s experiences. Your circle of friends and acquaintances
always grows when you become an entrepreneur, as many founders need others to
lean on to survive and talk about the challenges only known to them.
8. Doing
good. While this isn’t exclusive to entrepreneurs, it’s definitely a perk. You
control where your company profits go and if you choose, you can give allocate
your financial gains to others. You can sponsor a charity, a non-profit or just
personally give back to the community.
This is quite honestly one of the best parts of being an entrepreneur.
9. Novelty.
We, as humans, love new experiences but rarely can you experience a host of new
things from inside your cubicle. This all changes when you are running the
show. Starting your own business will ensure you’ll always be facing new
challenge and experiencing something new.
10.
Mentorship. Having had mentors and getting to be a mentor have been some of the
best experiences of my life. Learning
from the masters and getting to help those less experienced than you gives you
such a sense of satisfaction. From my experience (and other's stories) the
entrepreneurial community is very willing to give back and lend a helping hand.
11. Becoming
an expert. This point goes along with mentorship. Regardless of what you do as an entrepreneur,
if you stick with it, you’ll probably become very good at it. And this gives
you a sort of soapbox, so use it. You'll have the chance to be interviewed for
your expertise, write about it and get to spread your message.
12. Skills.
People ask me how I learned about SEO, social media, pay-per-click, PR and all
the other marketing techniques I utilize. I tell them that I was forced to
learn them, otherwise I wouldn't survive.
The same way I was forced to learn how to build a spreadsheet, how to
balance a budget, how to negotiate leases and countless other skills I picked
up because I was the only resource I had. While developing new skills can be
tough and takes times, it can pay off in spades. These skills will be invaluable throughout
your life.
13.
Determination. Everything I’ve done as an entrepreneur has affected me in my
personal life. I used to be poor at
committing to changes. But having been an entrepreneur for over a decade has
forced me to become dedicated and determined to causes. (Now I can stick to an
exercise plan much easier.) I’m also
better at being a father and husband because of that determination I learned.
14.
Recognition. There are literally thousands of local, regional and national
awards that recognize entrepreneurs in every field and industry. This shouldn’t
be your only reason to start your business, but it certainly is a great feeling
when you receive this recognition.
15.
Financial independence. Let’s be honest, this is probably the biggest reason
people get into business for themselves.
And that’s a good thing! You
should want financial independence.
However you define financial independence – retirement stockpile,
unlimited cash potential or having the money to buy what you want -- entrepreneurship can allow you to achieve it.
Trust me, money doesn’t buy happiness, but it does make finding happiness much
easier.
16.
Reinvention. I’ve started and sold several companies over my career. And every time I sell a company, I’m
presented with an opportunity to reinvent myself all over again. On the flip
side, if I had received my law degree, I’d be a lawyer (not a lot of room to
recreate myself). But as an entrepreneur, I get to be whatever I want to be.
17. Change
the world. Everyone jokes that every entrepreneur says they’re going to change
the world. It’s difficult to imagine how a cell phone accessory kiosk in the
mall is going to change the world. But
there are those that do succeed. Take a
look at Elon Musk, Bill Gates, Sergey Brin, and the countless other
entrepreneurs who really have changed the world in some small (or major) way.
18. Create
jobs. There’s nothing like the satisfaction of knowing you’re responsible for
the success of your employees. Your
ideas provided them the opportunity to earn a living, provide for their family
and fulfill their own dreams.
19. Your
brand. Being known for something is awfully enjoyable. People may start referring to you as the
marketing guy, or the retail maven or the software guru. Whatever it is you’re recognized as, it’s fun
to build that brand and earn that recognition.
20. Am
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21. Your
reason. I’ve given you a list of why I think you should get into business. But all that really matters is your reason to
start your own business. So, what is it? Tweet out this story and add your
reason. Comment below and share with us
why you did it. I know it will be a good
one.
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