Thursday, March 22, 2012

Should You Start Your Own Company?

If you were to proclaim to friends and family that you’re thinking about starting your own business they might call you crazy. They would point to a struggling economy and a chaotic political environment as proof that this is the wrong time for investing in a small business. However, it might just be that the opposite is true. All eyes are on the private sector to provide indications of an economic rebound. As a new business owner you have the opportunity to tap into that desire for a recovery by providing goods or services to a community who is eager to offer support to anyone who are creating jobs. Consider these other benefits for starting a small business:

·         Finding Real Job Security: By working for yourself, you create your own job security. By working for a huge corporation, you lose the ability to have control of your own job future, especially in an era of downsizing and outsourcing. It’s hard to get fired if you’re the boss.

·         Making Smart Choices: Starting your own company means you get to call the shots. Yes, you should have a team of qualified advisers and employees, but ultimately the final decision pertaining to any company matter will fall on your shoulders. While that might seem like a lot of responsibility, it can also be a rewarding role to play for someone who has spent most of their career working for someone else.

·         Utilizing Technology: In many ways, it is actually easier to start a business today than it was several years ago. Your big advantage is the ability to tap into a vast amount of technology to improve your chances of success. First of all, consider all the fundamentals of running a business such as bookkeeping, budgeting and staff recruitment that is made easier thanks to the wide array of business software programs. Secondly, there is a vast array of free social media outlets you can tap into on both a local and national level that can help get the message out about your business.

·         Financial Rewards: If you are currently working in a salaried position then you know exactly what your take home pay will be every week. That number has very little opportunity to grow exponentially. On the other hand, as a small business owner you have the potential to reap great financial rewards when your business becomes a success. Yes, you might be putting some initial funds at risk in the early start-up phase, but if your goal is to be a success then there is no telling how far that success can take you.

·         Vested Interest: Anyone who starts their own company has a vested interest in making that business a success. This is the kind of passion that can reinvigorate a person’s life. Suddenly, the motivation for getting up in the morning and going to work takes on more meaning. You’re working for yourself which means you’ll get out just what you put in. 

1 comment:

  1. I am not sure whether to start up a company of my own with some of my friends or just join a new york corporation where I can simply invest on their stocks. But from the looks of it, based on my understanding of what you shared here, I guess there are more benefits to building your own company in the long run. Thank you so much.


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