There are actually several rewarding parts to owning your own business. For some, it's the essence of the American dream: owning a small business. Finally free from the demands of overbearing bosses, now you get to call the shots. You can show up for work when you want to; avoid two-hour commutes; and run the business the way it should be run. But first, let's define what it means to own your own business and why many consider it so rewarding.
Business Ownership: What Does It Mean?
Owning your own business means different things to different people. I've run into some who say they run their own business, only to find out it's network marketing such as Amway or Mary Kay (some network marketing companies actually tell their distributors to say, "I have a home business" rather than, "I'm an Amway rep"). Does this de-legitimize their business? Not in the least; it's all perception really. To others, a Subway or Pizza Hut franchise is an example of owning your own business. Basically, owning your own business means you are selling products and/or services to make a profit, and you direct how your business is run. You are in charge of marketing, advertising, and selling. The entire business is dictated by your own goals and aspirations.
Reward #1: Owning The American Dream
Probably the overarching reward to owning your own business is that you embody everything that America stands for in terms of freedom and the right to choose your own course. In many other countries whose socioeconomic system is opposed to capitalism, that right is not granted to all citizens. The freedom to succeed, the freedom to fail; it is all part of the American experience.
Reward #2: Bye-Bye Bad Bosses
We've all had our share of bad bosses. Whether controlling, condescending, rude, bossy, micromanagers, or just plain nutty like Michael on NBC's The Office, bosses can be a real headache. When you own your own business, YOU are in control. You get to dictate to others how the business should be run. You get to make key decisions on staffing, salaries, branding, advertising, product selection and availability, and information technology. This feeling of empowerment is amazing, and there's nothing like it.
Reward #3: Work When You Want & Avoid Nightmare Commutes
When you own your own business, you can show up for work when you please. You answer only to yourself. You can wear what you want, and set your own hours without fear of the big boss issuing you a warning when you get stuck in that 2-hour traffic jam. If your business is home-based (as opposed to a retail franchise), you can avoid the morning commute altogether.
Reward #4: Save on Taxes
As an author, I get to classify myself as "self-employed" on my Federal taxes and thus receive tax breaks for expenses related to my home business. I have found I can expense gas costs; computers; printers; fax machines; office furniture; utility costs; food; advertising; and much more. If you own your own business, be sure to take advantage of these tax breaks, or ask your accountant for more information.
Owning your own business isn't for everyone. It takes a lot of marketing and advertising to get the word out in today's information-saturated world. You will not get rich overnight; in fact, you may not get rich at all. You may stumble and have to pick yourself up a few times. But if you've got a lot of stamina and persistence coupled with a positive, can-do attitude, you'll reap the rewards of owning your own business.
No comments:
Post a Comment