Running a small business can be overwhelming. Most of the time, all people can talk about is how exhausting it is, and how much sacrifice and hard work is required to make it work. It can be difficult to remember when you're stuck in a whirlwind of tasks, but there are a lot of benefits to running your own business, too. If the corporate lifestyle isn't for you, here are some more perks to consider if you're thinking about catching the small business train.
Working on Your Schedule
Working for someone else typically means a schedule, and it may not always be consistent. You could be stuck with the dreaded nine-to-five, but you could also be stuck with overnight hours, or hours that change every two weeks.
These can be impossible to plan around, but when you run your own business, you can make your schedule to work for you.
You can make sure you're there to drop your kids off at school, or to pick them up from dance class later. You can take weekends off or work from home and sleep in. Some industries may benefit from a consistent schedule, but others can work with customers around the world and at any time. Plus, you won't have a boss that gets angry if you want to take time off, go on a cruise, and try international cuisine. You may even be able to turn your trips into a business expense!
Turning Your Passion Into Profit
You could stare at a computer all day doing a job you hate, or you could take the leap and turn your passions into a business that supports you financially. This shift should always be done with care, since it's common for people to start disliking their hobbies once they become jobs. When you first start out, there's likely to be long hours and some setbacks. You can always start with just a side hustle that you grow into a more secure job over time. This way you can reduce both the pressure and your risk of burnout.
When done correctly, you can wake up each day excited by the idea of going to work, and go home each night knowing you've spent your days doing the one thing that makes you happier than anything else. Plus, spending so much time on projects you're excited about means you're continually practicing, learning and growing in your chosen field. There simply isn't room or time to grow stagnant!
If you feel like your innovative outlook and creative problem solving skills are wasted in a corporate environment, why not put them to use in your own company? There's no one to tell you not to develop a new line of products or try an unconventional technique. This also means you need to do your own research and make smart decisions, especially where money is involved, but you don't need to stifle your creativity for the sake of company policy.
Because you make your own schedule, you can go for a walk and get some inspiration anytime you need it. You can approach other businesses for collaborations that bigger companies may overlook. It's also within your power to completely overhaul every aspect of your business if it stops bringing you joy. You'll have to deal with the consequences of any failures, but you'll also be able to learn from them, which is hard to do when you're working on a corporate team and the failures are actually due to someone else's actions.
One big advantage small businesses have over bigger companies is community connection. The money spent on your business can go back into your community, and there's nothing quite like that sense of contribution. You can work with other local businesses, attend local events, fairs, and markets, and you can contribute to local causes. When you operate your company with community as one of your core values, it becomes part of your brand, which in turn draws in more of your community for support.
There's also the opportunity for connection within your industry. Bigger companies may either ignore you or see you as potential competition, but other small businesses are more likely to have more in common with you and your business. Plus, one of the fastest ways to establish yourself as an expert within your industry is to host events or teach at industry events, which also happen to be perfect opportunities for networking. You could try to keep your company's secrets close to your chest, but you'll miss out on picking all sorts of talented brains in the process.
Owning a small business isn't easy, but it's also uniquely rewarding. When you have the passion and vision to make it work, all those late nights will help you craft a life you're proud to live.