The benefits of business ownership. Believe it or not, as a business consultant by day, I get
asked this question A LOT! There are so many people out there who require the knowledge
and experience to get into business ownership. Yes, it can be tough, but if you go ahead and
take the first step to becoming an entrepreneur, it can REALLY pay off!
So what are some of the benefits of business ownership?
1. Benefits of business ownership – work life balance
Although the list is no particular order, this point is a very important one to make. More
often than not, people take for granted the free time they have. Ask yourself this question:
WHY DO YOU WORK SO HARD IN THE FIRST PLACE?
My point is…you have a REASON why you are breaking your back to earn whatever you
earn. But WHY do you do it? Do you do it for your family? Do you do it because you need
money to blow?
Let me tell you my reason…my family! I worked to make sure my family never had to. But
if that’s your reason too….you’re basically sacrificing time with them, to spend money on
them, when they’d rather you just spend time with them in the first place!
To get the most out of your work LIFE balance, starting your own business could mean the
world! Imagine working the same amount you work right now, but instead keeping the
profit for yourself. Now imagine in 2-5 years, being able to let someone else run it, and
STILL keep the profits, while having the additional benefit of spending all the time in the
day to do WHATEVER you want….meaning, work on the LIFE part of the work life balance.
2. Benefits of business ownership – Don’t have to answer to ANYONE!
Think about it this way – you are given the life that you live. Instead of spending 8 hours
(out of approximately 12 waking hours) working for someone else, why not spend the
same amount of time working for YOURSELF?
But that’s just one of the benefits of business ownership when it comes to work life
balance. You are working for yourself to CREATE free time in the future. Compare this
with working for someone for 5 years. Besides a possible salary increase (which is likely
crap anyways), you will probably get an extra WEEK of vacation. That’s stupid! If you
work for yourself in your own business, 5 years of working at it could SET YOU FREE! That
means you don’t have to give yourself an extra ’1 week vacation’…you could give yourself a
3. Benefits of business ownership – You keep the profits
When you work at your job, you probably think you’re working REALLY hard, and its
paying off. But what if I told you I know over a dozen people who work 10%-25% of the
time you work, and make over $50,000 PER MONTH! This is something to really freakin’
need to think about.
You know how they do it? The key is in your PROFIT! When what you EARN surpasses
what it COSTED you to earn it, you are creating a profit. The faster this process happens,
the faster you get rich….PERIOD!
So back to your dilemma. You work hard, and you get paid $50,000 per year (this is
actually higher than the average family income in US and Canada – but its a nice even figure
for the sake of argument). You go home thinking you made some money today…lets say
that translates to about $150/day. Well guess what? The guy/girl you’re working for made
$15,000 that day! Yeah, thats how bad it is! Your efforts probably translates into $10,000
profit PER DAY! Do you feel ridiculous now? I know I did!
The Benefits of Business Ownership
4. Benefits of business ownership – CHALLENGE yourself!
There is no better feeling in the WORLD than to know that ‘you won’! I don’t care what
people tell you, when you take on a challenge and you SUCCEED, its like you won the
Close your eyes for a second and just imagine the thing you want MOST in the world….think
about the feeling you would get if you accomplished it…now think about it coming true…
You probably don’t think your dreams can ever come true, but stop for a minute when you
think that and imagine yourself in the place of the people who HAVE had their dreams
come true. What must they be feeling right now?
Believe me, if they can do it, if I CAN DO IT, YOU CAN TOO! We’re all humans! We all have
the capacity and ability to accomplish our goals. So when you dive into the risk of having
your own business, DON’T THINK ABOUT ANYTHING BUT SUCCESS! Don’t leave failure as
an option! Tell and think to yourself that you WILL succeed!
And you will succeed…
I hope you enjoyed this blog post. However, I’m not done yet. I will have another blog post
showing you 6 more benefits of business ownership.
Till next time, enjoy the rest of my site
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