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The Benefits of Being Your Own Boss

By: Maggie Lonsdale BA (hons) - Updated: 21 Dec 2010 | comments*Discuss
The Benefits Of Being Your Own Boss

There are so many benefits to being your own boss. It can be very difficult, stressful and frustrating when you are self employed and run your own business, so it is important to appreciate the positives.

Sense of Satisfaction

Being your own boss gives you a real sense of satisfaction. You know that whatever you achieve it is because of your own efforts. You no longer have that feeling of having to answer to someone else, or do things someone else’s way just because they told you to.

A sense of satisfaction is not to be underestimated as it helps you to feel positive and strong. Being proud of your achievements and being able to appreciate exactly how your hard work has paid off is wonderful. That’s not to say you can’t feel like this when you are employed, because you certainly can, but for many people the real sense of satisfaction comes from being in control.

Unlimited Potential

When you are your own boss there is unlimited potential to what you can achieve, both in terms of business opportunities and financial results.

When you are employed you gain the security of knowing what you are going to get paid, when you are going to get paid, your pension contributions and paid holiday. You will also probably have some sort of career path to follow and regular reviews with likely pay increases.

None of this happens when you are your own boss. For some people this is exciting and for others, it’s terrifying. There are no guarantees, but there are also no limits. You can earn as much as you like, take a holiday when ever you like, try new suppliers, develop new clients, build new business. You are the boss, so it’s up to you.

This can be a huge pressure and it can also be the undoing of some people – we’ve all heard of someone who gets carried away with being the boss and bought fancy cars instead of paying the bills. Don’t let it go to your head, but allow yourself to feel the excitement of unlimited potential.

Make the Most of All Opportunities

Being your own boss means that you have to make everything and anything happen. You remember when you were employed and you felt like the boss was making the wrong decision? Or when a colleague did something that you felt was a poor choice?

Now it’s up to you. No more arm chair critic – if you feel something could be done better, or the business could be better manipulated in a different direction, you can make it happen.

This means that you have to have your wits about you – if you see an opportunity you can grab it. There is no waiting for company policy to decide, or for your boss to tell you what the new Q3 initiatives are going to be.

Being able to make good, quick decisions takes time and practice. Some people are natural business people and have excellent instincts; others take time to hone their skills. Everyone can learn and when it is your own business you take far more care over the potential consequences.

Being your own boss is fabulous – as long as you are ready to appreciate that the buck stops with you, the feeling of satisfaction, unlimited potential and being able to do exactly what you think is best.

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