Are you tired of waking up early on Mondays to go to work? Do you ever feel like you could do better in life, make more money, or create a bigger impact than what you are doing right now?
These are just some questions a regular employee frequently asks him or herself. If it’s difficult to motivate yourself to attend your desk job, establishing a business might be a great idea for you. Here are 10 amazing benefits of running your own business.
Have you ever wanted to do your office work at the comfort of your bed? Probably you did! But of course your boss needs you to be at the office at 8 in the morning sharp.
That’s not even the toughest part. Ever experienced any of the following?
Well, I feel you. But fortunately, there’s good news. Building your own business might just be a great alternative.
By far, the biggest benefit of having your own business is being your own boss. Just imagine yourself managing your own time, being in a place where you want to be, when you want to be. What a life, isn’t it?
Being the boss of your own company lets you have a control on your daily schedule and what happens each day.
However, as the saying goes, with great power comes a greater responsibility. While you’re free to decide on your work habits, you should also maintain proper discipline to move yourself to do things.
Here are some tips to set up a comfortable work-from-home space.
Unlike working in the office, you can establish a deeper connection with clients when you start your own business.
Having a good relationship with your clients is important because the network that you build might come in handy in the future. They might connect you to the cheapest supplier, refer you to a powerful network of partners (that can lead to more business), and maybe even become business partners with you.
If you’re accustomed to managing large teams of people within your organisation, then you’re definitely qualified to work with a handful of loyal and motivated clients who value what you can offer.
Now don’t be in a hurry to forget your existing network of colleagues and key people at your existing organisation. All the time and energy invested in building those relationships can actually help you in launching a new business.
You can ask the people who already know, like, and trust you to refer you to people that they know in their own network to do business with you. You might be pleasantly surprised by who is connected to whom, and how certain individuals are more than happy to help you on your new journey.
To help you practise the art of relationship building, here are some ways on how to build a lasting relationship with clients.
Do you have a boot-licking officemate who always tries to impress your boss? Or that credit-grabbing colleague who brags about his or her accomplishments in team meetings? These are just some woes that regular employees experience in politics-stricken work environments.
By owning a business, you won’t have to deal with those kinds of people and impress your shareholders, directors, or supervisors (or anyone else for that matter).
The biggest win here is that you won’t have to compromise your personal values on a daily basis. Running your own business means you play by your own rules. Now how liberating would that be?
As the business owner, you practically decide on everything–even the members of the team. You can choose the people that you work with whether that’s individuals who make up your team, or clients who pay you for your services.
Have you ever been in a meeting and felt like your thoughts were miles away? Apparently, you’re not alone. According to a study by Atlassian, an Australian software company, 91% of people admitted to daydreaming while they’re in a meeting.
Moreover, meetings cost a lot of money to several corporations. Did you know that on average, a mid-sized company loses $5.3 million a year because of unproductive meetings? That’s a great deal of money that could have been used elsewhere.
Think of that last meeting that you had with your boss and the team, was it efficient? You can actually calculate how much that meeting costed using a simple web app by Harvard Business Review to estimate the cost of that meeting.
Meetings can be lessened if you own a business because you have the freedom to decide when and how to conduct a meeting. In addition, a smaller team to work with means that you can instead have an open communication with everybody.
There are other ways to work together without restricting each other’s schedules. If you’re really allergic to meetings, you can make use of collaboration tools that can help you become more productive.
Here are some tools to help your future business become more collaborative.
Understanding the bigger picture of your company is a crucial motivation for you as an employee. But sometimes, we work in companies that don’t make us see our direct impact.
When you establish your own business, you are able to determine and see quickly the immediate effect of your decisions and actions. Getting your hands dirty is what’s usually required for you to learn fast and learn well, and to develop the key skills required for you to be successful as a business owner.
In our experience, you’ll learn more in one year of running your own business than in 5 years working as an employee in someone else’s.
Ever been in a situation where you wanted to implement something in the office, but you couldn’t do so? You’re probably thinking that it was too big of a challenge to do alone in this big company.
Owning a business lets you freely test ideas. You can get things done faster and easier because there’s no red tape to get ideas through to implementation phase.
As an employee, even if you think you have the most compelling business idea, you still have to provide a detailed business justification to get the idea signed off. Not only that, but it also may still take months before you see any movement.
Now getting your business off the ground can be a tricky endeavour. But once that is achieved, you’ll need to implement some proven strategies to scale up your business. This removes a lot of the trial and error and frustration of trying to work it out all on your own.
So make sure you seek support and guidance from a proven mentor and/or a trusted community of like-minded small business owners.
Many employees feel that they want to be in control in some decisions in their workplace. However, they’re not in the position to do so. If you’re one of these employees, you’d possibly do better by establishing your own business.
By running your own business, you are able to evaluate and take risks on business decisions that you make and reap the benefits.
A friend of mine had several problems in his previous workplace because his colleagues thought he was too opinionated about the company’s strategic decisions and he “meddles too much with other people’s business”. He then decided to start his own company and became successful in his new endeavor. Safe to say that he’s doing far better than he did before.
Have you ever felt annoyed with your company’s internet policy? You can’t view that “how-to” video on Youtube because of the IT team’s web restrictions. How about the software, is it up-to-date? Your company might still be using the 2005 version of your internal communications program because the company says “it’s still working”.
Having a business lets you experiment on the latest technology without all the necessary red-tapes.
Imagine having to use your personal phone to organize your to-do list at work just because your company’s software is outdated. Well this is actually happening! I hope that’s not the case in your company.
To help you, here’s a list of 7 tools that you and your team can use to get more productive.
It’s a great feeling to be able to give back to the people that matter to you the most.
Owning a business lets you contribute to the society by opening more jobs for your community. Imagine making people around you become productive while at the same time helping them get through life with the salary you provide them. That’s a rewarding feeling that you won’t get in a desk job.
On a larger scale, you can also give back to the community through your business, by being able to manage your own time and resources. As the leader of your company, you can allot budget for a charitable organization that you’ve always been passionate about.
Everyone starts somewhere, and you can start learning how to give back as early as now.
A report from recruitment firm Hays reveals more than half of Australians would drop their salary by as much as 20 percent to be able to work from home, and a further one in five would take a 10 percent hit.
Has there been a time, for instance, when you wanted to attend your child’s class recital, but you have to be at work? I know a lot of people who miss their most important family events because of their work commitments.
We can all agree that it’s important to maintain a healthy work-life balance, and you can make it happen.
Running your own business lets you work while spending time with your family. You can be home every morning, do your business appointments while the children are away for school, and be home at night to watch a movie or cook them dinner.
Here’s how you can spend more time with your family now.
It’s a great thing to have a regular job, but the 9-5 grind isn’t ideal for everybody. Running your own business offers rewards far beyond the financial aspect (which can definitely be great). It also gives you the freedom to do things the way you like, work with people you want to work with, and invest time and energy into projects of your own choosing.
Are you tired of doing it all yourself? Do you genuinely want to build a dream business and take some time off? Watch our FREE on-demand training.