Last Update: January 19, 2015
Entrepreneurship is the new American (and global) dream. Everyone wants it but few are bold enough to do what it takes to make that dream a reality. At YFS Magazine we know how awesome it is to be an entrepreneur and endeavor to empower you to know the same.
But what is it that drives would-be entrepreneurs to strike out on their own? What were some of the world’s most successful founders, small business owners, and CEO’s thinking when they decided to unleash their genius into the world?
Here are twenty simple reasons why being your own boss (entrepreneurship, in general) is awesome.
As an entrepreneur you can:
1. Develop financial independence.
You are completely in charge of your earning potential. “Financial independence means different things to different people. To some, it means having the cash to buy what they want. To others, it means saving for retirement or a home. And for some folks, it simply means opening the bills without dread. Whatever your definition, it means you command your money and not the other way around. That’s a victory worth celebrating.”
2. Set your own schedule.
For the most part, as an entrepreneur you have greater command of your schedule. However, you will likely have many more demands on it as well. “Contrary to popular belief, you don’t come into the world with nothing but your naked self. You’re actually already in possession of one of your most important gifts: time.” What will you do with yours?
3. Bring your ideas to life.
Entrepreneurs bring ideas to life. “If you know that you will not find peace in your life until your vision becomes a reality, you are willing to invest valuable resources, and acquire new knowledge” it could be time to start your own business.
4. Have creative freedom.
A small business owners creativity is not defined or constricted by corporate red tape. Many entrepreneurs enjoy the creative freedom associated with calling their own shots. That freedom includes, “the freedom to create authentically, to create a life, job, relationships, and greater purpose that represents your deepest values and to create without fear, self recrimination, or judgments (external or internal),” according to Awakencreativity.com.
5. Release the fear of being fired.
The fear of being fired can make anyone’s workplace uncomfortable. However, as an entrepreneur it is highly unlikely that you will fire yourself. There is a “random quality that exists in layoffs and terminations; working overtime and generating significant revenue for your organization will not necessarily guarantee that you escape the axe.” But layoffs can be a good thing. There are plenty of entrepreneurs who have celebrated being let go — in fact, getting fired led them to entrepreneurial success.
6. Finally be challenged — in a good way.
Entrepreneurship is challenging and rewarding. As a startup and successful small business you will overcome operational and common issues including competition, funding, planning, and the list goes on. But challenges breed solutions and equip you with the potential to innovate and disrupt industries.
7. Create a legacy.
What will be your life’s legacy? According to SUCCESS magazine your legacy is, “something you create during your life solely to benefit future generations…” Business philosopher and author Jim Rohn suggests that, “Those who came before leave us the world we live in. Those who will come after will have only what we leave them. We are stewards of this world, and we have a calling in our lives to leave it better than how we found it, even if it seems like such a small part.”
8. Work from anywhere in the world.
Working from home has become increasingly common — even more so for startups, home-based business owners, freelancers and solopreneurs. While “4.2 million workers did their jobs from home at least one day a week in the last decade, according to Census Bureau reports, entrepreneurs enjoy this luxury on a regular basis. Whether we choose to work from a home office, a leased office or the beaches of the world — we work hard to conduct business anywhere and everywhere on our own terms.
9. Gain personal fulfillment.
Entrepreneurs aren’t stuck in a career that they aren’t passionate about. Sadly, that is not the case for many employees who report into a thankless job, day-in and day-out. Small business owners are driven by the pursuit of their passions in life. Economist Larry Smith, in a TED Talk, asserts why some will fail to have a great career. Don’t let that be you. What’s your excuse for not following your passion?
10. Impact the lives of many.
Social entrepreneurs identify a social problem and start a venture to solve it. The era of the social entrepreneur is here. The “role played by entrepreneurs in advancing positive social changes” is growing according to David Bornstein in a NY Times post. “I don’t mean businesspeople solving social ills, but people spreading new approaches — through nonprofits and businesses, or within government — to address problems more successfully than in the past.”