“Self-employed people are four times more likely to be millionaires than those who work for others .”

Thomas Stanley, The Millionaire Next Door

My former employer once ran a job recruiting campaign with the headline “why work?” I think they were trying to convince people why to work for them, but I took it literally. I quit my job and started a couple of businesses. Now I’m semi-retired with a couple of businesses on the side, and help other people who want to accomplish the same!

Why work? Well, we all need money to pay our bills and survive. For most people, the easiest way to get money is to have a job where a business will pay you for your time and effort.

But there’s another way. Instead of working for someone else’s business, why not have your own business that works for you? That’s right, a well-run business is an asset that works for you. It creates value that people are willing to pay for, and as the owner of that asset, you collect the income. That doesn’t mean that it doesn’t take work to create and run a business, but ultimately you can build it into something that works for you.

Here are some of my favorite reasons to run a business:

  1. You are the boss. You don’t have to answer to a bad boss, and you don’t have the stress of performance reviews or arbitrary deadlines. No more corporate politics. You make the rules.
  2. Freedom. If you set up your business right, you can work where you want, when you want, and how you want. I’ve run mine from cruise ships, on an African safari, and hiking in the French Alps – all while owning a profitable business with 25 employees.
  3. No income limit. Most billionaires are business owners. Your paycheck isn’t limited to how much (or how little) your boss wants to pay you. This is not to say that it’s always easy to make money, but there is no glass ceiling!
  4. It’s never boring. I’ve learned so much and grown as a person since I started my first business. I’ve learned hard skills like marketing, accounting, and strategy, but also soft skills like leadership, customer service, and diplomacy. Every day is a new experience!
  5. More family time. Since you work for yourself, you can also spend more time at home or traveling with your family. No more missed soccer games, and more time to enjoy life with my aging parents.
  6. More hobbies. You have time to learn other things too. Since quitting my job, I’ve picked up piano, yoga, and cooking, to name a few.
  7. Community. Your business is also a bigger part of a community than you are as an individual. It’s fun being part of something bigger!
  8. Career growth. It’s basically jumping from wherever you are stuck on the career ladder right to CEO, COO, CFO, CMO, and CTO (among others). As an entrepreneur, I’ve learned how to be an executive. I’m also 10x more driven, focused and productive than when I was working for someone else.
  9. Pride. Your business is yours. You created it and you own it! Every time I drive past my store, look at my website, talk with my employees, or see one of my ads, I feel the pride of ownership.
  10. Legacy. Your business is an asset that you can pass on to your kids, or sell, and it can live on.

Business ownership isn’t for everyone, and it does take planning and work to build your business the right way and create the life that you want, but that’s what the Easy Entrepreneur is all about!

Contact me if you’d like a free 20-minute consultation on how business ownership could work for you.