Man Sat on Yellow Sofa Writing on a Pad. Business Coach Nimesh Odedra
Should You Start Your Own a Business as a Student?
September 5, 2016
Business Coach Typing on a Laptop with Coffee

Why you should work for yourself, starting now

Flexibility, freedom with time, not having to answer to a boss; these are just a few reasons often cited by people who quit their jobs to start their own businesses. More and more people are opting to work for themselves. The number of self-employed people in the UK has risen from 3.8 million in 2008 to 4.6 million in 2015— the highest it’s been in forty years

So, is starting your own business for you? Whether you want to give up your rush hour commute and work in your pyjamas, have a legacy to pass on to your children or you want to earn more over the course of your working life, here are seventeen reasons why you should be working for yourself.

Reasons to start your own business

      1. More time to spend on what matters most – like time with your friends and family
        If you start your own business, you’ll be in charge of your own time, meaning you’ll have more time to spend on the things that are most important. You may find yourself working longer hours, especially at first (on average, entrepreneurs work around 52 hours per week. But since you’re in charge, it’s up to you if you want to reduce your hours — and spend more time with your loved ones.
      2. Job security
        While some may think of leaving a job as giving up “job security”, many argue that in you’d have more security if you started your own business. While you can be made redundant or fired from a job, when you’re working for yourself, you can’t be fired. By honing a variety of skills and creating a portfolio, you can create a more secure and stable work life.
      3. Flexible time/hours (depending on your business!)
        When you start your own business, you get to choose your hours (depending on the
        business, of course. If you’re running a shop, that might not be the case!). Working
        for yourself provides you with far more flexibility; you don’t have to request time off to go to the dentist or take the cat to the vet.
      4. Ongoing learning
        As a business owner, you will *learn plenty of new skills quickly. Starting your own business forces you to learn about taxes, time management, to brush up on your organisational skills and more. As an employee, you learn about your role and your industry. On the other hand, as a business owner, you have to learn about your industry, plus all the logistics of running a business.
      5. A legacy to pass on to your children
        You can create a legacy to pass on — not just in terms of inheritance, but potentially a
        business that they could take over one day. You’ll also be teaching them the value of
        hard work, learning and thinking for yourself.
      6. Networking
        Networking is important in any industry, but especially in entrepreneurship. Those who start their own business always want to meet others in the same boat – to share experiences, swap stories and ask for advice.
      7. No more rush hour
        Unless you own a business with a physical location, you can likely do most of your
        work from home (barring client meetings) – meaning you no longer have to deal with
        a commute through rush hour. Which means less time wasted on your commute, and
        less stress.
      8. Work in your pyjamas
        Depending on where you call your office, ditch the dress code. If you work from home, you can even go to work in your pyjamas!

Although many people associate starting a business with big headaches, it’s not as difficult as you might expect. In spite of many stories of bureaucratic red tape and difficulties, recent changes such as the Enterprise Finance Guarantee

make it easier than ever to start a business

    >

  1. Work with the people you want to
    When you work for someone else, you don’t get to choose your colleagues or your boss. If you don’t get on with your co-workers, there’s nothing you can do. When you start your own business, you get to decide who you work with. If you end up hiring people, you can choose them!
  2. Answer to yourself, not your boss
    No longer will you have to answer to your boss. You’ll be in charge of yourself and your business.
  3. Create jobs
    If your business grows, you can end up creating jobs. In a study of 59 economies, 250 million entrepreneurs were involved in starting or running businesses. Of these, 63 million expected to create five or more jobs in the next five years
  4. No more “what ifs”
    Stop wondering “what if” and see what happens if you leave your job and start your own business.
  5. Work wherever you want – anywhere in the world
    Depending on the kind of business you start, you can create the ultimate “laptop lifestyle”. This means you can have the freedom to work anywhere in the world as long as you have your laptop and an internet connection.
  6. Uncapped income
    As a business owner, you can earn a potentially unlimited amount, depending on
    your ability to find customers or clients and sell to them. Your salary is no longer
    controlled and limited by your boss.
  7. Earn more over time
    Although many people are hesitant to start their own business because of financial risk, research shows the opposite is true. Studies show that entrepreneurs earn 10% more than their office counterparts over their working lives.
  8. Pride
    There’s nothing better to spark pride and a sense of achievement than the knowledge that you created and grew your own business.

Ready to start your own business?
Are you ready to say bye to your boss and take control of your time and your work? Business mentoring can help. Studies show that 82% of businesses with a mentor survived the first 1-2 years, which is 13% higher than businesses without mentoring

Nimesh Odedra is here to offer you bespoke business mentoring. Book in now for your free business coaching session.

Leave a Reply

Your email address will not be published. Required fields are marked *