10 Reasons More People Are Starting Their Own Businesses

Thousands of new businesses are being started everyday. More and more people are moving away from traditional employment income and looking to carve their own financial destiny as an entrepreneur. There are many obvious reasons why the number of people leaving what used to be known as job security each day to venture into the world on entrepreneurship. Let’s look at what the top10 reasons could be.

1. More Money And Free Time To Spend It

True financial freedom comes from having a lot of money and enough free time to enjoy it. People in traditional job situations mostly find themselves in one of the two scenarios; they either do not make enough money at their current jobs to travel and do more of the things they would like, or they are getting paid a high salary but do not have enough vacation time to enjoy that money. Not that you get to take every other day off when you start your own business, as a matter of fact, running your own business is normally more time consuming than being employed. However, every entrepreneur believes if they work hard and sacrifice for short period of time of 3 to 7 years, they will have a big enough business they can either sell and retire early, or build a team that can manage the business without their presence at all times.

2. You Create Your Own Schedule

If you ask anyone currently working a 9 to 5, they will probably tell you that there is nothing they hate more than driving to and from work everyday in traffic. Waking up at 6:00am everyday to commute for 2 hours to get to work is not the ideal use of time. When you own your own business, you get to set your own work schedule. Start your workday at 11:00am if you feel like it. You are your own boss. You also get the luxury of setting your own flexible vacation time so you can go away when you feel like it and not when you are told you can by your boss.

3. You Get To Do Something You Are Passionate About

A recent study shows that 70% of Americans hate their jobs. Most entrepreneurs do not have this problem; because normally when they start a business it is around something they are truly passionate about. Getting up and working hard each day is so much easier when you enjoy what you are doing. No wonder so many people would sacrifice money to do something they truly enjoy. There is no price tag for happiness.

4. You Get To Choose Whom You Work With

Of the 70% of people that do not like their jobs, I can bet at least half of those people don’t like their jobs because they do not like the people they work around each day. Their bosses being top of the list. When you start your own business, one of the most fulfilling parts is that you get to take others along with you on that journey. As your business grows, you get to build a team of people around you that you can grow and have fun with. You get to choose people with common interests and who share a passion for what you do.

5. You Get To Challenge Yourself

The thing that scares me the most about employment is not the people or the commute, but the fact that I would probably die of boredom. Routine and monotony is not my thing. As an entrepreneur, each day you get to deal with new challenges and solve new problems that comes with growing a business. Some people may not like this, but for those who prefer a little more excitement to their day, they look forward to these types of situations.

6. You Can Build A Legacy

I have not heard of too many people that were able to pass on their 30-year employment to their children or grand children. When you work for someone else your entire life, hopefully you were disciplined enough to have decent amount of savings and maybe some real estate investments, otherwise, when you die, you leave nothing. When you build a business, it’s not just for you, but it’s for generations to come. Your family and the families of the people you work with.

7. You Get To Give Back To Your Community

Giving is a great feeling. Changing the lives of others in a positive way is what many of us live for. When you build a business and can provide opportunities for others in your community, you get to make the world a better place every single day.

8. Pride In Ownership

How many times have you ever heard this “The proud owner of….” Having something that you can call your own gives you an amazing sense of pride. People like to own things. As an entrepreneur, not only do you get to own your business, but you own your time and financial destiny as well. Owning is what you do.

9. You Reap The Rewards

Every entrepreneur looks forward to the day they can sit at the head of that table with a blank check with their name on it, and they get to write any amount they desire. That amount is their salary. You will not survive very long as an entrepreneur if you are only in it for money, but make no mistake, money is a big part of what drives business owners to get up, work hard and continue to make sacrifices each day. However, when things finally work out and it all comes together, you get to reap the rewards.

10. No Job Is Secure

Its long been a misconception. Not sure why having your employment fate rest in the hands of someone else was ever considered to be security. Thousands of people get laid off by corporations every single day, simply because a new application was recently developed that can now do everything an entire department of 200 people use to do, for only one-tenth of the cost and a micro fraction of the time. Incase you have been sleeping, you should wake up and realize that you are probably only a year or two away from an algorithm taking over your job, or even worse, your entire career that you have invested over 20 years in developing. Harsh, but its reality.