Technology (social media engagement, automated digital payment services and real-time customer feedback - to name a few) has given rise to a new culture of small business ownership. Everyone now has the tools to monetize a lifestyle, a hobby or a new idea.
Those that have already started a small business? Yeah, they're pretty happy:
According to the first annual Yodle Small Business Sentiment Survey, small business owners are enjoying a pretty decent work-life balance, they’re working reasonable hours, taking vacations and generally loving what they do.
The small business owners survey of businesses with 20 or fewer employees found a whopping 91 percent are happy being small business owners, with 55 percent saying they’re “extremely happy.”
Whether you’re interested in starting business out of your home, opening a retail shop, or simply building a website that you can monetize, today is the day to make it happen.
On the fence about whether or not you should start a business? Here are seven convincing reasons to love being a business owner in the most open environment for small business the world has ever seen!
1. You Can Literally Monetize Your Entire Life.
Content creators and bloggers make a career out of talking about flower arrangements or putting together how-to videos for garage door repair. No matter what you like doing or talking about, you can monetize it and make a small business from it.
2. Your Schedule is Your Own.
Do not misinterpret this to mean, "You will have more free time." Business owners work longer hours than employees. However, if you love what you are doing because you chose your own production schedule, the work is not really work, is it?
3. You Gain the Opportunity to Save on Taxes.
Most of the tax deductions available to the average person are for the small business owner. The learning curve is high, and the rules are always changing. However, you have an opportunity to save a large percentage of your income with the right accountant and digital bookkeeping program.
4. You Are Doing What You Love.
Many small businesses find viability through the passion of the owner. In many cases, the small business owner would perform the service or make the product for nothing! When you learn how to get paid for something you do anyway, life becomes instantly better.
5. You Leave a Legacy.
No matter how much you make on a job, you cannot pass that job to your kids. You cannot help friends who are in need of help. As a small business owner, you may grow into providing employment opportunities for your community. You leave behind a legacy for loved ones who may profit from what you have built for generations after you leave.
6. You Gain More Opportunities for Income Streams.
At the head of a small business, you gain options for more money, which means more freedom. Investors are always looking to buy successful companies. You also have leverage for lines of credit. Some factoring companies even give you credit lines based on the creditworthiness of your customers.
7. You Provide a Unique Product to the World.
Small business survives and thrives off of originality. Your small business product or service, if it is successful, is providing something to the community that no one else can provide. You may even have an opportunity to patent or trademark your work, increasing its value.
These are just seven of the hundreds of reasons why being a small business owner is the best job in the world. What do you love about being a small business owner? Share your thoughts with us by leaving a comment under this post on our Facebook page!
For even more, check out this awesome infographic from Bolt Insurance.