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self determination

The benefits of being your own boss

Be your Own Boss – The Benefits

What’s better, to be the employee, or be your own boss?

A lot of people find themselves in fix when deciding whether they should seek employment, or start their own business. These two are quite balanced as they both have their fair share of advantages and disadvantages. And although at the end of the day one has the right to choose what befits them best, it’s very clear that being your own boss is highly advantageous unlike being employed. The top six main reasons why choosing to be your own boss is beneficial include:

Ability to have flexible work hours:

As your own boss, you have the ability to dictate the hours when you’ll be working. One is therefore never constrained by the usual 9 to 5 time frame as is the case with the regular day jobs. Instead, you can choose to start your day at the office at any time of the day or night. More importantly is that these hours don’t have to be consistent. For instance, on Monday you can start working at noon, on Tuesday at the very early hours in the morning, on Wednesday you can work during the late night hours, and so on. The number of hours you spend working won’t even mean much to you since you’ll be doing something that you love.

High degree of job satisfaction:

Being your own boss, you are a lot more capable of reaping what your sow’ and enjoying it to the fullest. This is because all of the hardwork put into the business transforms into profits. So unlike the case where an employee’s hardwork is merely rewarded by a pat on the back, a meagre pay rise or promotion, as the main owner, you will enjoy all of the profits by yourself, and in the ways that you desire. The satisfaction also comes by when executing any creative ideas. Since you won’t be required to run any of these ideas to your superior as is the case with employees, the results will be achieved within a shorter timeframe. At the end of the day, you are bound to be more fulfilled and proud of yourself once you see how rewarding your hardwork is.

Protection against unemployment:

Being the boss, the one thing that’s always going to be guaranteed is that you’re never going to lose your job. Even if the business doesn’t do well enough, you’ll continue holding your position. It’s through this guarantee that you will give the very best to ensure that the business gets back on its feet. It’s hence evident that if one has all the control in the business, their desire to achieve and work towards the greater good of their business will be enhanced.

Opens up Business networking opportunities:

As the boss, you’ll be required to conduct all of the business transactions; from marketing to advertizing, and from accounting to management. This will see you working with all kinds of professionals and also your customers/clients at a more personal level. Despite it being tasking, it’s highly advantageous as it’ll help you create and build contracts that can come in handy towards the growth of the business.

No more commuting:

Becoming your own boss will significantly reduce the number of hours or minutes wasted everyday on the road, while driving to and from work. This is mainly because many self-made bosses have a preference of working from their home offices. By it being convenient and easier to access, you’ll not only end up saving on gas but also on time; which is of great importance more so when building your new empire.

Early retirement:

Self-employed individuals are highly favored by the retirement plans as they enable them save more towards their 401 (k) retirement accounts. If the business is doing well, you can maker higher contributions per year thereby enabling you to retire early, if you so wish, now that you will have saved enough. This is unlike the case with employees whose accounts have a limit on how much one can contribute.

Additionally, you are bound to develop exemplary traits such as diligence, diplomacy, frugality, reliability and punctuality, which could be of great help to the business in the long run. But at the same time, to be your own boss, you ought to be very self disciplined, patient, very hard working and innovative.