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Have you ever thought about owning a business? Well even if you said to yourself "should I start a business" or not, I think you should read on about the advantages of owning a business. Many people have business ideas. Many people want to have a life that they are in control of, but most don't do what is necessary to execute that dream. You don't have to be a genius to own your own business. You don't even need to have money. All you need is a plan, time, action, and resources. Many people learned alot in 2020 about what happens when you put your future in the hands of other people. Millions lost their jobs overnight. Security isn't always promised when you work for a big company. The market can shift, the world can change, and just like that - in the blink of an eye - it can all be taken away. So, why not take a chance on making your own way, and work on owning your own business. Let's discuss 5 advantages to starting and growing a business.
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Are you aware that small businesses are the lifeblood of the global economy? In the United States alone small business is
responsible for over 40% of economic activity.
They create jobs, inspire innovation, and help to create thriving communities. This is everything from the local coffee shop to food service to e-commerce. Without small businesses, the world couldn't function without it. Without entrepreneur skills, society would not be as well off.
We need entrepreneurs, we need innovation, and jobs. Everyday a small business is started and many people are choosing to live life on their own terms, creating a future for themselves. So, what i'm saying is, why can't this be you as well?
WHAT ARE THE MAIN REASONS FOR STARTING A BUSINESS?
People go into business for themselves for many reasons. They want to be their own boss, they like the idea of controlling how much money the make, or even to help out the community with a nonprofit organization.
In a moment I will discuss the biggest reasons and advantages of starting a business.
IS STARTING A BUSINESS DIFFICULT?
Starting a business is relatively easy. Anyone can start one. Learning how to start a small business can be done in an hour. You only need to go online to your local government website like the chamber of commerce or state treasury department, and find the information needed to get started with a business license, opening a bank account, etc. It's really not hard at all when you look into it. What is a bit more difficult however is getting the business to work.
When you're starting a business and coming up with your business plan, you have to focus on the market. What service am I going to provide that will bring value to other peoples lives. What type of business? What do you want to offer?
Will it be a service business like a Yoga studio or a tax expert? Will it be an online business that directs sales through online marketing or digital products? Dropshipping, etc. There are many facets, and they can all be just as difficult.
Making money and being able to thrive in your own business is challenging. I don't want make light of the sheer challenge starting your own businesses requires. You do have to work at it constantly. If it were easy - everyone would do it. However, what i'm saying is, how many of even attempt to try?
DO YOU NEED A DEGREE TO START YOUR OWN BUSINESS?
Absolutely not. You do not need a degree. In 2021 you have all the tools and knowledge available to you at your fingertips. We no longer live in an antiquated world where information was hard to come by and you had to pay tens of thousands of dollars at a university to acquire it. All you really need now is Youtube!
There are thousands of people online right now with channels where you can go to find out about every stage of a business. Business owners, entrepreneurs, millionaires. You can learn about the qualities of an entrepreneur. From creation to costs, marketing, analyzing your competition, hiring staff, how to market to the right audience, develop multiple social media strategies for profit, etc. All of it. It's all on there. Type into Youtube I want to start my own business, benefits of having your own business, and how to start a business today. So, there are no excuses here, or reasons for you to not look into it for yourself.
Information is an asset. Do not undervalue it. So, look into it. And remember to follow my channel ---> https://www.youtube.com/channel/UCS83s5MWIWG3rT3On1IV2jg <---
IS STARTING A BUSINESS A GOOD IDEA?
Let me answer this question in the form of another question.
Do you think it was a good idea for Henry Ford to start a car company? You know Henry Ford was mocked and told that creating the car was a bad idea. People would actually say to him
"what's wrong with horses?"
You see at that time the majority of people in the world got around just fine on horseback and trains and no one saw any solid reasons why he should've done what he did. What he did was challenge the status quo. He thought differently. Think of how many entrepreneurs have done that thought the ages and became enormously wealthy because of it. From creating billboards to the invention of the microwave, the chair, McDonalds.
Fast food changed things forever because people like the convenience of not having to cook everyday. At one time that challenged the status quo as well.
What about Edison creating the light bulb? He had a vision, stuck with it, and it changed the world forever. He was a visionary.
People thought Elon Musk was crazy when he started an electric car company in the early 2000's. Now he just became the richest man in the world, even beating out Jeff Bezos.
Because, he knew that clean energy was where the future was going.
Now you don't even need to have big dreams to change the world in major ways like this. You can start a simple business that helps others in simple ways, brings value, maybe even food service, or an arts and crafts shop, an etsy store, or an online business where you teach something, much like the video your watching now, sell your own products, and develop an income. Small business ideas are everywhere. It could be as simple as starting a mobile company where you or someone else drives to peoples houses collecting their clothes they need ironed, then do it, and bring it back to them the next day. This would be great for busy professionals. I hate ironing. So do many other people. That's what entrepreneurs do, they find those holes in the market where there is interest, where there is potential, a need, and then they fill the need. Why couldn't you create that right now? You could start that today.
You know McDonalds isn't exactly known for having the best cheeseburger in the world. Many of us could create a cheeseburger just as good or better. What McDonalds has perfected, is systems. A system that thrives on efficiency of time, low cost, and convenience.
Going into business can be a bold endeavor. You don't always know if it's going to work out. But if you focus on the advantages, create a good plan, get creative, think big, execute properly, you too can be the master of your own fate. So, it is a good idea for many to start their own business? I 100% whole heartedly agree with this.
Almost 50% of our global economy depends on small business and entrepreneurship. And you don't even have to have money to get started. In fact, it's a very bad idea to go into major debt from the start, so get creative with it. To quote billionaire Shark Tank guru Mark Cuban in an interview, he said
"Only morons start a business on a loan."
So, what you need to start doing is thinking big, thinking outside the box, and becoming resourceful. Leverage your relationships and your passions. Look up business grants in your community. Millions are given by the government for this specifically.
Find small business ideas online and you can find all sorts of cool things like how to start your own clothing business, how to start your own business from home, and starting your own business with no money. If that doesn't work theres always the book "Starting A Business For Dummies.
WHAT ARE THE ADVANTAGES OF OWNING YOUR OWN BUSINESS?
There are so many benefits of having your own business. Here are the 5 biggest advantages of owning your own business:
1) BECOME YOUR OWN BOSS
How great would it feel to be become your own boss? How good would it feel to be able to tell your boss to take a hike? How good would it feel to be able to skip the morning commute at an ungodly early time? Not ask for days off?
You will have to take on more responsibility, yes. However, you're the only one you have to answer to. You move from employee to boss. You are in charge, CEO.
Working for yourself is one of the best gifts you could possibly ever give yourself in life. Be your own boss, work from home. Be your own boss and make money that you brought in.
2) EARNING POTENTIAL
When you start your own business, you can increase your earning potential. There won't be a limit on your income.There won't be a ceiling. You don't have to ask yourself for a raise!
When you get hired for a job, they say 30k a year, or 10 dollars an hour, etc.. The better your business does, the better you do. So, if you make a 100k profit in your first year, keep it. Or reinvest it back into the company to make even more money next year. If you want to know how to grow salary, grow it yourself.
3) PASSIVE INCOME
The Passive income meaning is money that is made without you having to be physically somewhere. It's money that is made while you lay on a beach. It's money that is made while you go to the gym, or do your daily errands. You don't have to trade your time for money - which is what most people do. If they don't show up to work, they don't get paid. So, this does depend a bit on what type of a business owner you are.
If you're doing an online business that brings in money to a global audience, you could be making money any time of the day. If you have a service business however, you may just have to hire someone to do the work for you that you don't want to do.
Passive income is the best way to earn money to live a life you love. There are many passive income books, passive income ideas, and much more on Youtube. Investigate and research the best ways for financial freedom for yourself. Money freedom will completely alter your life.
4) FREEDOM OF TIME
How great would it be to have more time for you in your life. Spend more quality time with your family, your kids, loved ones. To go out to a movie during the day and wake up everyday knowing you could do whatever you wanted to? Not slaving away at a corporate 9 - 5 job answering to somebody else?
You can make your own schedule. You can decide what you will and will not do. You don't have to get permission for anything.
Now, I don't want to paint a fake rosy picture. At first you will have to work hard. Harder than you've ever worked. For years. But when you put in the time every week, you create a system that can thrive, eventually you can get to a point to where you can earn enough income to free up your life. Sounds pretty good right?
5) YOU ARE THE MASTER OF YOUR FATE
There is a certain desperation that people live in everyday of their lives. This is what's called
THE RAT RACE.
The rat race thrives on fear and anxiety and is constantly spinning the wheels of capitalism, forcing you to compete with others in endless interviews and mind numbing thankless jobs, taking trains or driving across town, earning a small amount of money while building somebody else's dream. So, what i'm saying is, why not build your own?
Imagine what it would feel like knowing that no one controls you. No one tells you what to do. You can fall asleep at night knowing that your living your life the way you want to. Nobody determines your life except you. You are the master of your fate. So, if you really think about it... What is entrepreneurship? Well, it's telling everyone else to go fuck themselves.
DO YOU MAKE MORE MONEY OWNING YOUR OWN BUSINESS?
Well, it depends on how well the business is doing, obviously. There is a possibility with any endeavour that there will be struggles, and you may struggle for awhile. However, you may also do really well and be able to print large amounts of money, rolling straight into your bank account. The good news is that you don't have to slave away for years working for a boss, hoping they'll throw you a bone ever year with a 20 cent raise at your evaluation. When the business does well, YOU do well.
"You give yourself a raise whenever you damn well want to."
HOW STRESSFUL IS OWNING YOUR OWN BUSINESS?
Let me tell you, stressful. It can be the hardest thing you will ever do in your life. If everyone could do it, they would. But, most people are just not cut out for the hard work.
I personally have two businesses. I own a service business, which is a nonprofit organization in the states, because that is important to me. I make money, but i'm also contributing to my community in a positive way.
I also own an online business, Life 2.0, which is a for profit business. I make money by selling digital products as well as make money with affiliate marketing. This is my process and how I prefer to do it. You might want to do something else.
But, my point is that i've found that they are both just as hard. One is a service business where i'm required to speak to people, have meetings, refine a system, and manage a team.
But the online business is all about marketing and developing traffic online, which in itself is a fucking beast. But, I like it, and I like what i'm doing. However, I have found the two to be equally challenging. So, it's up to you what type of business you should do. Just realize that anything will have it's own stresses.
You might even want to look into Amazon selling. Amazon is huge still in 2021, and more and more millionaires are being made everyday because of this. It all comes down to your own personal passions, talents, and interests.
STARTING YOUR OWN BUSINESS
I hope this has helped you understand the advantages of owning your own business. I highly recommend it to anyone who wants more from their life, wants to be their own boss, or simply wants to earn more personal freedom and money.
Again, it is very very hard. You have to work nonstop, even more than 40 hours a week at first. More like 80 or a 100. But, once you can push yourself to the limit and create something for yourself that you never thought was imaginable, you will be astonished at what you can accomplish, and amazed at the freedom and happiness you feel when you've done it.
So, don't go on the internet and look up the best"should I start a business quiz?" Look into your heart, and decide what you want from your life.
Finally, when you take everything into consideration - like working for 30 years at a company you have to drive to where you have to be there all day, spending 50% of your life at, compared to doing your own thing.............. well, it all makes perfect sense doesn't it?
Wishing you all love, happiness, and success!
Matt Jones is a writer and entrepreneur with multiple businesses who loves inspiring others to reach their full potential. He is also a musician, educator, and world traveler who has been to over 40 different countries on all 7 continents. His personal mission is to create and inspire others around the world to be the best version of themselves. He believes in using this one special life for good and achieving happiness.
He is from Los Angeles but is now based in Greater London.
