IF YOU have considered becoming an entrepreneur but haven’t taken the leap yet, you’re in the right place. This article will provide 3 reasons for becoming an entrepreneur. At the end, we’ll provide some links to books that provide some great ideas for the types of businesses you can start.
Key Takeaways
- If you feel like it’s a good time to start on your entrepreneurial journey, you should take the opportunity.
- Being your own boss is a better way to work because you have complete control over your life. In addition to deciding when you want to start and end your day, you can also make your own decisions about when you want to take vacations, and not feel guilt when you take time off.
- Depending on the type of small business you decide to start, and how hard you work at it, you can make a lot of money as a successful entrepreneur, especially if there’s a market need.
3 Reasons to Become an Entrepreneur
Though there are many reasons for considering entrepreneurship, here are the most popular reasons why people design a 9 – 5 exit strategy and start their own business.
1. You Are Your Own Boss
When you run your own business, you are your own boss. If you feel like it’s a good time to start on your entrepreneurial journey, you should take the opportunity. You won’t know if you’ll end up with a failing business unless you try – Even if you’re worried about failure, there are many ways to avoid getting to that point.
Since you’re the boss, you can work on your own schedule as long as you meet your clients’ deadlines. If you’re creating products for customers, you’ll need to ensure you’re meeting their expectations and are offering useful products. Being your own boss is a great way to quickly implement new ideas. You also have flexibility over you own schedule and how you want to serve your customers.
2. You Have Complete Control Over Your Life
Being your own boss is a better way to work because you have complete control over your life. In addition to deciding when you want to start and end your day, you can also make your own decisions about when you want to take vacations, and not feel guilt when you take time off.
Having complete control over your life can also come with new challenges. You must have the discipline to work when you need to work. That way, you can meet your target market’s needs. To make more money, you may have to step outside your comfort zone and try doing different types of work or charging your clients or customers more for your products or services when the demand for them increases. That way, you won’t have to work longer hours, and you’ll be in a better place in your personal life.
3. You Can Make A Lot of Money
According to the Small Business Administration, owners of incorporated small businesses make an average of $51,816 per year, whereas unincorporated small business owners make an average of $26,084 per year. Remember that many entrepreneurs also work side gigs or aren’t fully self-employed, which may skew this data.
Depending on the type of small business you decide to start, and how hard you work at it, you can make a lot of money as a successful entrepreneur, especially if there’s a market need. You will have to put in some hard work to have a successful business. One thing that can help is to partner up with the right people to help with the aspects of the business you don’t know much about.
If you decide to start your own company after working at a traditional job for many years, it can be difficult to find the courage to start over. However, if you’ve worked in the field for a while, and you have contacts in the industry, you increase your odds of having a good start.
You can also make much money because when you run your own business, you can take advantage of many tax benefits through different deductions you can take for your business expenses.
Some Great Ideas for Starting a Business
If you’re interested in new businesses that provide better financial security, but aren’t sure where to start, here are a few books about different types of businesses you can start with little or no money.
If you want to start a business with no money, and you have an extra room or two you can rent out to travelers in your home, check out this book about starting a successful Airbnb business:
If you’ve always wanted to start a digital marketing agency, check out this book:
If you’ve ever thought about starting a copywriting business, check out this book:
If you’ve thought about starting a vending machine business but don’t have any experience, check out this book:
If you enjoy making candles and want to make a business out of it, check out this book:
The 3 Reasons for Becoming an Entrepreneur
Being your own boss, having complete control over your life, and making a lot of money are just a few reasons why you should become an entrepreneur. Becoming an entrepreneur has a lot of advantages, however, there’s also much responsibility. Occasionally you need to be willing to work long hours, and sometimes deal with clients who may be demanding. Despite that, you’ll eventually be able to create a better life for yourself, where you have enough money coming in to pay the bills and do things you didn’t think were possible before.