If you are a star employee or the whizz behind a new project that is soon to make your employer a lot of money, then you are a classic case of “flying without wings” (pardon the Westlife reference). Yes you might be successful and doing extremely well at work, but you will always be restricted because you will never own the company; your ideas and achievements will always be regarded as the achievements of the company.
As such, there is only so high up the ranks you can go when working for someone else. Do you really want to have all the ideas but allow others to take the credit just because your name isnt on the company stationary?
You need to realise that flying solo will enable you to push yourself to be the most successful professional you can be. By setting up your own business, only then will you experience true freedom and success in your own right.
Here are some of the main reasons why starting your business is the right move for you…
#1 You are the boss
This benefit is probably the most obvious. Why spend your days having a manager breathe down your neck when you can be your own boss and work according to your own needs?
It is no surprise that having your own business will make you much more money than working for an employer (provided your business is successful of course). As a business owner, you have the freedom to decide your take home pay, and there isn’t a supervisor to convince when it comes round to the “Christmas bonus”.
#3 Creative freedom
The feeling of frustration when an idea or project could have been implemented in a better way (in your opinion), will never again happen if you set up on your own. You will have complete creative freedom to do as you please, run your company how you see fit, and execute ideas in ways you feel will be most successful.
#4 Every day is different
One of the most un-motivating aspects of being “tied” to your job title is the fact that each day is much the same. You will have your required duties to carry out, the manager might call you in for a meeting for a workload update, and then it is home time. Boring. Being your own boss though, you get to be the boss, employee, sales person, marketeer, accountant and HR all rolled into one. In any one day, you could be negotiating an important contract, working on your finances or hiring a new recruit!
#5 You can work from home
This shouldn’t be a deal breaker, but one of the added perks of setting up your own business is that, to begin with, you will likely work from home. This will enable you to save on overheads until your business makes profit. If you have a family, enough this time! Because once your business gets off the ground, you will be working all hours god sends!
#6 You make your own deadlines
As the boss of your own company, you need to run a tight ship. But you will be in a better position to understand what “reasonable deadlines” really means when you do begin to hire staff. Whilst recognizing the importance of keeping to deadlines, you can use your expertise in the industry to judge exactly how much time is needed to complete a project to the highest standard.
#7 It’s a conversation starter!
Networking is important in every industry. Without vital “connections”, businesses cannot grow and relationships cannot flourish. Attending industry events as a “representative” of a company will certainly get your foot in the door, but with most valuable contacts, they will want to speak to the person in charge of the business, not their talking parrot. As a business owner, you have the added advantage of being able to negotiate terms and conditions there and then if need be!
Now that you are convinced of all the benefits, you need to figure out if you truly have what it takes to make it work. Here are some common characteristics of a natural entrepreneur:
- You are self-motivated;
- You are not easily intimidated and thrive at a challenge;
- You have will power and self-discipline;
- You can handle competition;
- You can adapt to new changes;
- You have a good understanding of your strengths and weaknesses;
- You have a good head for assessing risk.
If you think you have what it takes, then there is no time like the present to 'fly solo'.