In response to changing economic, technological and social conditions, Americans are embracing entrepreneurship more than ever before. The 2015 Kauffman Index reported the largest year-over-year increase in small businesses in the past 20 years, with more than half a million new small businesses launching each month. The US Chamber of Commerce documents the rise of the entrepreneur in a report entitled Work, Entrepreneurship, And Opportunity In 21st Century America, citing recent a Gallup Poll that shows 61 percent of Americans prefer self-employment over traditional employment options. While some of these entrepreneurs may have joined the ranks of the self-employed due to employer cutbacks, the great majority choose to become their own boss for the many benefits of owning their own business. Here are just five benefits of entrepreneurship:
Entrepreneurs love the freedom gained from self-employment. As a small business owner, you choose when, where, how, and with whom you work. You are the master of your own prosperity, and you never have to choose between making time for family and clocking in to work. However, the freedom to step away from the business to tend to personal needs does not mean entrepreneurs work less diligently than traditional employees. In fact, the opposite is true. Running a business is very time-consuming, difficult work at times, but modern technology has made the task a bit easier.
Whether you want to live in the bustling city or a sprawling rural community, as an entrepreneur, your work is where you are. E-mail, online CRM tools, affordable teleconferencing, and other technological advances make it more convenient than ever to run your own business. Many entrepreneurs can even successfully work from home – talk about a dream job!
A generation ago, going into business for yourself was seen as a risky decision, while large firms were considered to have the best job security. In today’s tumultuous job market, there is no such thing as job security in even the largest of corporations. As an entrepreneur, you are in charge of your own destiny. Rather than trading your time for money working for someone else, you are building equity in your own business.
Small business owners may have the toughest job in the world. From sacrificing time spend with friends and family to get the business off the ground to having to wear many hats as they take on multiple job roles, small business owners work extremely hard. However, the rewards are considerable. A new study by Constant Contact Inc. revealed 84 percent of the small business owners surveyed said that if they had to do it all over again, they would still start their own business. When asked why, 62 percent of them cited the ability to pursue their passion as the major driving factor in their career. This comes as no surprise; if you are going to work so hard, you must be passionate about what you do. Enthusiasm is contagious. Bring your passion to the job every day and it is sure to infect employees and customers alike. Enthusiasm translates to a great customer experience, which translates to far greater job satisfaction.
A Second Career
Millions of Americans are reaching the age of retirement, but are finding that they either don’t have the savings to retire or that they simply don’t want to. Retirees are often looking for new, purpose-driven work that offers not only continued income, but the chance to continue contributing to their communities. In 2008, the MetLife Foundation/Civic Ventures New Face of Work Survey found that 50 percent of Americans in their 50s and 60s want to do work “that matters.” Nearly ten percent of the retirees surveyed were already invested in what the study calls Encore Careers, or careers started after retirement. Of those not currently invested in an encore career, nearly half are interested in continuing to work.
What does it take to start a business?
Leaving traditional employment to start your own business venture seems daunting. You certainly don’t need to have an MBA or an extensive background on the executive board of a large corporation. Many of history’s greatest entrepreneurs began their businesses without advanced degrees or a lot of startup capital. The greatest investment you will make is your time, focus and persistence. Prepare to work hard and never give up. If you’re ready to take the plunge, these tips for starting your own business can point you in the right direction.
At Organizers Direct, we provide all the support, experience and marketing power of a franchise without the cost or restrictions. We don’t charge franchise fees or require contracts and royalty payments, and we offer comprehensive training and ongoing support. With a dealer program, you are truly the owner of your own business, but you aren’t alone.