Why Start a Business? Here Are 5 Great Reasons

Business.com / Strategy / Last Modified: February 22, 2017

Here are 5 reasons why you might want to start a business and work for yourself.

Every entrepreneur has his or her own motivations for starting a business. But the truth is that launching and growing your own company can be a taxing, emotional endeavor. If you can acknowledge the risks and muster the courage to take that first step, the rewards of having your own successful business is unmatched.

In 2010, 63% of entrepreneurs told SnagaJob.com that starting their own business had been more personally fulfilling than they ever thought it would be.

The desire to start a company is abundant: 54% of Americans age 18-34 want to start a business or plan to in the future. If you want to start a business, consider these 5 benefits:

1. Follow Your Dreams

It sounds cliché and idealistic, but starting your own business has everything to do with following your dreams. Your dream could be to work from home in order to spend more time with family. It could be to do more important work that makes a difference, or to simply reignite the passion you have for your career. Starting a business gives you the opportunity to turn something you love into something that also pays your bills and (hopefully) then some.

2. Learn New Skills

When you work for yourself, you're in a position to define your own role and pursue the tasks that excite you. But, as a small business owner, you also face a number of new responsibilities that will help you learn important new skills, such as sales, accounting, marketing, and project management. These skills will not only help you grow a successful company, but will help you become a well-rounded professional too.

3. Higher earning potential

One of the more significant reasons people start a business is because owning a business can be more financially lucrative than working as an employee. When you work for someone else, you're held to a salary range with pre-determined schedule of  raises and (if you're lucky) bonuses. Business ownership knows no bounds when it comes to income. When you set your prices and take on more business, you could quickly surpass your previous salary and see limitless potential to continue to earn more.

4. Ideal work environment

Starting your own business allows you to shape the workplace culture that ideally suits you. If you've ever worked in a toxic environment before, felt unsupported by coworkers or bosses, or lost sleep over stresses beyond your control, you can appreciate the ability to establish your own environment built around your values and beliefs.

5. Flexibility

Flexibility is another great benefit to starting your own business. With that much more control over how you spend your time and with WiFi available, well, everywhere, you're able to build your company at the time and in the location you want. Imagine starting a business and working poolside one week, or working at night when your family sleeps, allowing you to enjoy leisure time with them during the day. You can build your business with no constraints that prohibit you from traveling or working when you want.

There are many other benefits to starting your own business -- tax incentives, time off whenever you want it, being able to choose who you work with, pride in your accomplishment of building a company on your own, etc..

But the benefit that matters the most is the one that motivates you to take that first step to start your business. What will your reason be? Learn more about starting a small business at business.com.

Photo source: inmar.com

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