This week many of us were probably asking why we decided to start businesses in this industry. This may have lead you to want to know if being in your own business was such a good idea.
On bad days we all have asked those questions to ourselves. I would be willing to bet that even though the markets were a disaster yesterday most of you would still say that you’re glad that you own your own business.
I’ve been a private business owner for over thirty-five years and even though they’ve been in very different industries, there often isn’t a day that goes by where I’m happy about the choice I’ve made. The satisfaction of owning and creating something is worth the price of admission. The fact that every once in a while problems seem overwhelming is often based on a false fear that we think might take us over.
In my prior business (the vending and food service business) there was little room for mistakes or economic downturns. In the financial services business the profit margins are large enough that major mistakes are not likely to sink or even come close to sinking your business.
If you’re wondering why you decided to go into your own business here are some things to think about:
· Being in your own business means no one can come in your office and fire you.
· Being in your own business allows you to decide what the business will look like and what sort of clients you will serve.
· Owning your own business allows you freedom that working for someone else doesn’t.
· Owning your own business allows you the chance to become a passive owner later in life after you’ve systemized your business.
· Owning your own business often provides status for creating or growing a business that you’ve started or bought.
· Owning your own business is about personal freedom. You get to set the parameters for how you’re going to spend your day.
· You get to pursue your passion. When I changed industries I went from going to work to doing an activity I would do for free. And, now I get paid......what a deal.
What are the reasons you started your business? I would love to hear about what you think about as a business owner and what your feeling is on balance about being a business owner. Please join the conversation below.