Being the boss definitely, has its advantages. You get to call all the shots when you are in charge. But let there be no mistake, being a boss and being a leader are two different entities. But, this post is not about leadership qualities of being a boss, it is about the top 5 advantages of being your own boss.
One common advantage I see posted around the web is the flexibility of creating your own work schedule. This is one I disagree with entirely. Ask any real entrepreneur about their work hours/week and you will understand these people eat, sleep, and breathe their businesses.
“Entrepreneurs are willing to work 80 hours a week to avoid working 40 hours per week.” – Lori Greiner
Creating a successful business takes incredible discipline. Being your own boss means you are willing to show up first and be the last one to leave. Successful entrepreneurs are not waking up late and working a couple of hours a day here or there.
If you want your business to go from a grand opening with 1 location to then 2, then 3, and so on. You need to be willing to work much harder than the competition.
- I have seen a sandwich shop owner work open till close, 7 days a week.
He now has multiple locations in New Jersey. Still working long hours to make sure each location is incredibly successful.
- I have seen restaurant owners working long hours every night.
Whether their restaurant was busy or not they were on location to make sure everyone’s dining experience was the best it could possibly be. Every single night on the floor shaking hands with their customers. If the restaurant was busy, would become a busboy, dishwasher, line cook, server, or a bartender. Making sure everyone had the best dining experience possible. You can’t do this if you are taking nights off.
- My grandfather, 84 years old and still working 6 days a week.
Having built his own company 30+ years ago, he still works 8-5, 6 days a week. He loves owning his own business and having built it himself. He has seen it grow to 3 different locations.
In my experience, I don’t see successful bosses creating flexible schedules and taking large amounts of time off. No matter the market you are in, business is 24/7 and you need to work very hard. Which brings up to the first advantage when you are the boss.
1.) Love what you do.
People who are self-employed have a much higher level of job satisfaction than people who are just employees. There is a number of contributing factors to this.
Some of the major factors are building a business that you are passionate about, building a business that is entirely your own, or competition.
Business is a sport and there is always going to be competition. Some people love their business because they love to compete against other competitors.
2.) Creative control
As the boss of your business, you will always have the final say. If you do not like the finished product or the process by which something is done, you have the power to change it. It is your business and the creative aspect of how your business thrives is up to you.
3.) You will conquer challenges
Being the boss of your own business means there are going to be challenges that arise. This could be from competitors, employees, products, you name it, it could be a challenge.
As we all have personal strengths and weaknesses whether it is being analytical or personable, there is going to be times your strengths and weaknesses will be tested. As a boss, you will need to conquer this challenges. You will grow as a person as you work to grow your business.
4.) Personal values and ethics
Not all jobs are going to align with your personal values and ethics which is a great thing about having your own business. You can instill your own values into your company.
One of the personal values I have that I translate to my business is that family always comes first. If myself or someone who is working for me has an issue going on with their family, they can drop the work they are doing to take care of their family matters.
The personal values and ethics you bring into your business are dependent on how you want your company’s culture to be.
5.) Earning potential
How much you make each year is entirely up to you. There is no salary cap on being the boss. Taking a position within a company could limit how much money you are going to make each year but as the boss of the business, you earning potential is limitless.
The beginning of your entrepreneurship might have a smaller income than you are used to but as you grow your business and are able to reach more clients, your earning potential will never be capped by an employer.
These are the 5 advantages of being your own boss. If you are wondering how you can start your own business online, then there is only 1 platform online that will teach you all the in’s and out’s of having an online business. To see my full review of this platform before you join, click the link below.
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