Benefits of running your own business

Have you ever sat back and thought, “What are the key benefits of running your own business? And,are you still actually getting those by running your business?”

In this article, we’re going to look at some of the key benefits that you should experience by owning your business and make sure that you’re in a position to enjoy as much as you can, with the relationship that you have with your organisation today, and going forward.

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one benefit that some people find is the feeling of being in control. They are the one that makes all the decisions and they influence making things work or not work. Owning a business will give them a feeling of empowerment both in their own lives and in the way of being able to feel like they’re making a difference in the world. They are contributing and making something. They are alive! And this is great because it gives them that boost to do even more on a day to day basis.

Whereas some people that work in an organisation may well feel they are constrained, they don’t feel in control. They feel like they’re being forced to do something that is not creative, and therefore they are not challenged and as such that might make them feel demoralised. So, if this is you and your are in an organisation and feel like this then think about what it might be like to run your own business and have that feeling of control?

And, if you are in business and you think, “Crumbs, if only I felt like I was in control.” Then look around at which bits you do control and have gratitude for that. Because at the end of the day, we all have bad days like that when we feel like things are out of control, but the reality is, we still have higher authority than if we were NOT running our own business.

Another key benefit of running your own business is you get to feel like you’re building something.  You are creating something. It’s something new. It is something that’s contributing to the good of society. And this feeling of building and  of making something, it’s like having a young child. Just like the euphoria of bringing something into the world that you know is going to do good. Running a business is going to be something that you can pour everything into, and it’s going to serve its clients well, making customers lives a little bit better.

Now, that’s a great feeling, this idea of being able to build something.  I’ve heard it said that when we are just consuming, we create an atmosphere of becoming more unhappy.  It’s only at the times when we start to create that we create happiness within ourselves because there’s nothing better than this feeling of creation. This feeling of making something new.

Now, another thing that some people see as a critical benefit of running your business is the feeling that you’re helping people. Whether you’re doing this for commercial gain or whether you’re doing this because it’s a social enterprise, it doesn’t matter, you’re still serving someone. And for many people, this feeling of service, that they are making a difference in other people’s lives is a great feeling and a great motivator. And it’s a great benefit. Because at the end of the day, not everybody is motivated by the same things. Not everybody is motivated purely by money. And if you’re finding your motivation comes from being able to help other people, then having your own business can be a great way of making that happen.

What other great benefits can we think about now? Another great benefit of having your own business is that you can have a more flexible lifestyle. Today, we are in the “always-on society” and people can get hold of us at any point in time, we’ve got mobile phones, within the space of few feet of ourselves most of the time, including when we are in bed. We get text messages, tweets, Instagram messages, we have phone calls, video messages, emails, and all this bombarded all the time. While some people may feel overwhelmed by a lot this communication, if you learn to manage it and appreciate that you’re just one person, you can take your one life and live it in the way that you want to do. You can create a flexible lifestyle, where you’re no longer having to worry about being there at work at a specific fixed time, but, at a time to suit you. To be able to deal with and fix things within your business, but also allowing time out for yourself and your family as well.

For some people having a great aspiration to change the world, creating a product that’s going to make a difference in so many people’s lives. And for them having a business makes that happen. Just think about it. When Bill Gates came up with the idea of having a PC on everybody’s desk and how that’s transformed the whole world. Today just about everybody has a computer on their desk.

Moreover, nearly everybody also has a smartphone near to them. And this is creating an excellent way for us to learn and communicate and for us to be able to consume information.

All this technology is allowing more people to become more creative in their lives. So one man’s vision to change the world by putting a PC on everyone’s desk, allowing us all to communicate so much easier.

So, what new thing or things are you thinking and contemplating? What is in your plan that’s going to change the world?  How are you going to use those plans to benefit those in your business?

Now, there is nothing wrong with making money and for some people, making money is the central driver of being in business. And that is fine. We all have our drivers to be able to do what we want to do. And having money behind us to be able to make that happen is essential. It’s well-known that when you’re running a business, that turnover is vanity, profit is sanity and cash flow is the reality. So regardless of whether your primary driver is to create financial benefits, or whether your main driver is to change your business, you still need to worry about the money side of things and make sure you get it right. And this is a great benefit from being in business for yourself. You get the rewards, the amount of effort and service that you put into it, rather than having to take a wage or a bonus that somebody else’s thinks you deserve.

Another benefit that you may not have thought about is this.  It is easier for you to go and to work in another country if you have your own business. There are fewer boundaries for businesses to work business to business. It is easier than the requirements to get employed abroad. There are perhaps several laws or visas that are prohibiting you from doing this. You may need to go through a whole host of hoops for you to be able to get a job in someone else’s country. But with a business, there may well have fewer boundaries when it comes down to being able to provide goods or services around the world. There will still be trade regulations you have to worry about. There are always things around economics and economies that you need to worry over. However, in most cases, navigating these are a lot less onerous than trying to move to another country or find a job for yourself. So, if you’re thinking about providing a comprehensive worldwide service, or provide service that you know would work great in another country a business is an excellent way of being able to do that.

These are just some of the key benefits that you could have by running your own business.  So, on reflection after reading this article, which ones are you’re already implementing?  It would be great to hear from you about the great ideas and plans you have for your organisation.