There are many different reasons that entrepreneurs become entrepreneurs. Some people know from a very early age that they want to work for themselves, others work for a boss for a while only to discover that they would rather run their own business. One thing that entrepreneurs and small business owners agree on is that being an entrepreneur is great. There are lots of benefits to being an entrepreneur, more than the ones mentioned below, and these benefits are obviously quite personal and dependent on any one persons own set of circumstances, but here is a list of just some of the wonderful advantages of entrepreneurship.
1. You control your own destiny. You have the power to make the decisions that ultimately determine the success or failure of your business.
2. You can be an innovator. Most of the great ideas that have been turned into great businesses have come from entrepreneurs.
3. You create a family. The culture of entrepreneurship is almost like a big family – your business becomes a family and you get taken into the family of your fellow entrepreneurs who are always willing to give advice and help whenever it is needed.
4. You choose who represents your brand. You are obviously only as good as the people that you surround yourself with and when you own your own business, you can surround yourself with a great group of people that share your vision, passion and drive.
5. No dress code. You can go to work wearing what feels comfortable. Doing business in your slip slops can be hugely liberating.
6. You have the opportunity to make an impact. Being an entrepreneur gives you the opportunity to create a business that can make a real difference in the world.
7. You choose your workspace. You can work from home or from a coffee shop, rent space in a creative environment or take space in a cool upcoming area – the choice is yours and it can have a big impact on productivity and the enjoyment factor.
8. It gives you a rush. The stakes are high, but so are the rewards. What better shot of adrenaline than the one you receive after reaching a goal and knowing you worked extremely hard to get to that point.
9. You become a role model. People revere entrepreneurs. Just having the guts to become an entrepreneur is inspiring, but your success will serve as motivation and inspiration to others.
10. Boredom will not factor in your life. Being an entrepreneur or small business owner is busy – you can be guaranteed of never feeling bored.
11. Freedom to travel. Because of technology, you can run your business from anywhere. This means that without a set number of leave days and limitations of the corporate world, you have the freedom to travel while still running your business.
12. Entrepreneurship has no age limit. There is no age limit for entrepreneurs – from the young to the old, it is something that you can get into at any age.
13. Your mind is always in demand. Being an entrepreneur means that your mind is always busy. There are tons of decisions that need to be made, from the initial concept and branding to the growth and goal setting.
14. The pride of saying you’re a business owner. It is a great feeling to be able to step back and say, “this is my company,” while proudly holding your head up. Being an entrepreneur takes an incredible amount of work — those few words feel so good coming out of your mouth.
15. Full responsibility. It is hugely motivating to know that the work that you do will directly impact your business. There is no finger pointing or blame game – you know where the buck stops.
16. No more being undervalued. There is no need to pitch ideas for change or go through formal processes – you can implement updates and improvements to the business at a moments notice without the approval of anyone else.
17. Building from the base. You get to build something up from nothing. There is nothing more exciting than watching something grow out of an idea.
18. Become more family orientated. Entrepreneurs with kids have the ability to adjust their schedules to attend school functions and activities.
19. Reap the rewards. You really do get out what put in. If you are willing to work harder than anyone else, you will be rewarded accordingly.
20. Freedom to give back. Owning a business gives you the opportunity to support local charities and give back to your local community.
21. Focus on your health. Creating your own schedule means that getting to the gym or getting that run in is more doable. Being an entrepreneur means that you can focus more on your health.
22. Enjoy your hobbies. As long as you “do the work” and give 100 percent when in work mode, your free time can be spent doing the things you love. Attend more sporting events, play more rounds of golf or fish more. Being an entrepreneur provides you with the ability to enjoy your hobbies more.
23. You contribute to society. You can directly impact society by introducing a service or product that people use.
24. No more frantically checking the time. You don’t have to be a clock-watcher. As an entrepreneur your time management balance is key. Your day ends when the job is done.
25. You report to nobody. There is no boss to report to and no sign off required – if you want to do something, you do it.
26. It’ll be one of the biggest challenges you will face. This will be the biggest adventure of your life and like with any challenging time, you will experience immense growth – embrace it.
27. No career hamster wheel. There will be none of that ‘same thing, different day’ for you. Your days will come with different challenges and require you to wear a number of hats. Monotony will not be a word that will feature in your life.
28. The ability to pivot. If you find that your business model slows down, you have the freedom to make the necessary changes to get back on track.
29. You get to work with brilliant minds. You have the freedom to connect with incredible, like-minded individuals and to hire those brilliant minds in your own business.
30. Turn your passion and beliefs into a business. You can build a business on whatever you are passionate about and you can bring your own personal beliefs into that business, making it something that feeds your soul every day.
31. You can make people happy. Your product or service could have the ability to make people happy.
32. You will never hit a ceiling. Some jobs have a life span and ultimately hit a ceiling – being an entrepreneur means that the ceiling disappears.
33. Earn a living doing what you love. We all know that making money is important. The best thing about being an entrepreneur is that you get to make a comfortable living doing what you love – it’s a win-win situation.
34. Build your own security. Controlling your own destiny is the most secure feeling in the world.
35. You get to constantly learn. Being an entrepreneur means forever being a student. You get to learn invaluable lessons all the time (sometimes the hard way).
36. Eliminate downsizing or layoff fears. Business is getting tougher and tougher – no one’s jobs is safe these days. Being your own boss means that you eliminate this fear in your life.
37. Bad days could always be worse. A bad day at the office for an entrepreneur will always be better than a bad day working for a boss.
38. No degrees or pieces of paper stand in your way. When you are an entrepreneur, it is not about how many degrees or qualifications you have to your name.
39. You get to push the envelope. There are no rules when you are an entrepreneur; in fact you are supposed to push the boundaries. What better environment for great ideas to thrive.
40. Satisfy your personal curiosity. You won’t know until you try and in trying you almost always surprise yourself.
41. No more boring meetings. You don’t have to sit in meetings for the sake of meetings. Any meeting you attend will be because you wanted to.
42. You become a provider. You will become a provider, not only for yourself, but also for others. There is something great about knowing that you have made a difference in people’s lives.
43. Create your own corporate culture. You get to develop the corporate culture that you believe will provide the best environment for success and excellence. A recipe for success.
44. Experience personal growth. You will not only grow as a businessperson, but as an individual as well.
45. You become an expert problem solver. No problem will seem insurmountable. You will become an expert at looking at problems and finding a way around them.
46. It never feels like work. If you have created a business around something that you are passionate about, it will never feel like work.
47. You develop resilience. Its not all a bed of roses, you are going to take some knocks on this journey. It is about learning from the set backs and getting back up.
48. You can get competitive with yourself. Entrepreneurs are competitive by nature. The goal is to constantly improve and grow and being your own boss allows you to do this.
49. It enables you to dream big. The freedom to dream big is a huge advantage. When you are an entrepreneur, no idea is too big.
50. You don’t have to be lucky. Luck has nothing to do with being successful. The harder you work, the luckier you will become!
The benefits to being an entrepreneur are many. Yes, there will be tough times, but working for yourself will always be better than working for someone else. Being brave enough to take the leap is most certainly the hardest part, but if you have a great idea, passion and a competitive spirit, this may just be the choice for you.