Research paper on owning your own business
But people who are self-employed rather than employed by someone else also have other potential advantages. They may be able to enjoy not available to employees, such as hiring other family members and . They might be able to . Best of all, owning your own business can have you waking up with a smile on Mondays eager to start work rather than dragging yourself into someone else's business.
Pupils discuss the motivation behind owning your own business
20. 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.
There are thousands of articles cautioning would-be self-employed types about the , but almost nothing about how great owning your own business is.
Manya Whitaker explains how she started her own business
7. You Can Get Things Done – Faster
Entrepreneurs as a whole seem to have an allergy to red tape. Rather than wait for approval – or for the guidebook to be written about how to do something – small business owners salivate at the chance to get things done. "Most large companies are too busy being big to be proactive," says Darren Robbins, who owns a screen-printing business in Austin called . "The best that most can do is react quicker than the other big companies when the wave comes at them. My company, on the other hand has the flexibility to be proactive, to run new things up the flagpole and be at the forefront of new products, techniques, or promotional strategies. Never underestimate the ability to truly be proactive."
8. You Can Connect With Your Clients
There are few things that get entrepreneurs as excited as when they get to interact with their customers. Rather than hiding behind a series of automated greetings, small business owners thrive on dealing one-on-one with their best clients – or making the decision to get rid of those customers they don't like. "You don't have to deal with customers who are jerks - you can even fire them," says Brett Owens, whose software company makes time-tracking applications. Seriously, we did this once. Back when I did customer service related stuff for larger companies, I had to abide by the mantra of, 'The customer is always right' and there are some rare instances where that is complete BS!"
and learning about the legalities of owning a business
5. You Can Challenge Yourself
Some people thrive on the routine of their job – performing the same tasks day after day. As an entrepreneur, you can bet that each day will be filled with new opportunities to challenge yourself, be creative and learn something new. "The great thing about owning a small business is I rarely experience the same day twice," says Michael Wilson, co-founder of , a web design and brand management firm in Franklin, Tennessee. "Because every day, I learn something new about the act of owning a business. Whether its something about taxes, about accounting, or the plethora of other things that go into running a company, I am always fascinated by the parts and pieces of knowledge that I learn every day just to keep the business on track."
6. You Can Follow Your Passion
Many entrepreneurs say the long hours they invest in growing their business doesn't feel like work because they're actually having fun in what they're doing. "For me, it was a very conscious choice to make a living doing what I love," says Trish Breslin Miller, who started her craft retail store in 1989 at the age of 27. "I figured I'd spend more hours of my life working than anything else I'd ever do, so why not make it my passion? I enjoy the satisfaction of promoting and supporting something I truly believe in; American crafts handmade in the USA."
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3. You Choose the People You Work With
When you work for someone else, you rarely get to choose whom you work with. If you don't like your co-workers you'd better start sending our resumes. That's not the case when you own your own business, since you get to make the decisions about who to hire (and fire). "Over the years, I've hired dozens of personal friends, family members and former business colleagues to work with me in different capacities," says serial entrepreneur Christine Clifford, whose Eden Prairie, Minnesota-based businesses include and . "Why? Because they care about me. Surround yourself with positive people who give you the confidence and optimism you need to keep moving forward. Weed out the people that put out negative vibes. The smaller your organization, the larger choice you have about who you work with."
4. You Take on the Risk – And Reap the Rewards
There's no question that owning your own business is a risky proposition. But, with risk comes reward. Said another way, the better you are at managing risk, the more rewards you can reap. "The thing I enjoy most about the company is playing the 'game' of business," says Mark Dinges, who owns a Tustin, California-based business called California Creations that makes sophisticated windup toys called . "It's like combining high stakes poker with the greatest strategy game ever. There are an unlimited number of variables in almost every aspect of the company, and as soon as you think you have things under control in an area, everything changes. Specifically, I like having my own money at risk, then having to live with the consequences of my decisions (good or bad). Like every other great game, the more you play, the better you get. You learn to recognize good opportunities from bad ones. You learn how to look like you are committed to new products, without actually financially committing to it until you have feedback and orders from your customers. You also learn to create exit strategies for bad situations and how to maximize the good ones. The most fun is to work on a project for several years with your team, overcoming all of the obstacles, and then millions of people enjoy it around the world."