Being the boss of your own business means you are the master of your own destiny; achieving this status is a wonderful privilege with many perks and responsibilities all rolled into one. On the cusp of Bosses Day, which falls on 17 October, we explore the benefits of being king of your commercial castle.
- Work your own hours: rather than being a slave to the 8 ‘til 5 status quo, owning and running your business blesses you with the autonomy to work your own hours. Running your own enterprise is inevitably far more time consuming as the buck stops with you, but you can manage your schedule according to what works best for you. That means if you want to work four longer days and then have a three day weekend, that’s your prerogative.
- Help others fulfil their potential: if your start-up grows to the point where you need to recruit staff, you will be in the rewarding although admittedly challenging position of helping your direct reports to fulfil their potential. Leadership is an acquired taste and not for everyone, but for those who relish a challenge, you can build an amazing team that lives and breathes your vision with people that share your values and virtues.
- Enjoy creative freedom: say goodbye to death-by-committee decisions and bureaucratic red tape! Owning your own business means you can be led by your own vision and creativity. It’s no mean feat, but having the freedom to let your imagination wander uninhibited is a liberating feeling.
- Make your own money: while there is a great deal of financial responsibility involved with owning your own business, the sky’s the limit when it comes to your earning potential. Working for someone else can see your income capped, whereas you can generate significant profit once you have your business running at maximum efficiency. You can scale your business up and down as you see fit.
- Have a more meaningful life: Confucius said: “Choose a job you love, and you will never have to work a day in your life” and there is great merit in this sentiment. Unhappiness tends to creep in when we are not realising our potential, or if we feel we are being taken for granted. Owning your own business can give your self-worth and self-confidence a tremendous boost because you believe wholeheartedly in the cause and the commitment involved.