The Top Five List: Owning a Business

August 6, 20180 Comments

Just thinking about everything you didn’t accomplish and everything you need to accomplish can really put you in a funk.  To help, I always keep this list handy and I wanted to share it with you.

There are dozens of reasons why most people should own a business but these are my top five; if you’re an existing business owner use this list to bring back your spark, kick it up a few notches and get invigorated to continue your journey with some spunk!

Reason Number One:  You can be in control of your future, so the only person who can boss you around is you!  It feels so great to be in control and chart your own path.  Even if you’ve never been one to take risks and plunge into deep waters, this is your opportunity to really see what you can do.  I don’t know about you but I can’t name one boss that I admired or appreciated.  Of course this is my personal experience and most of the bosses didn’t even deserve their position, they just played the corporate game really well.

So this is your opportunity to call the shots; dictate when, where, why, and how.  Not to mention the fact that you establish the culture, no more standing around and complaining about “the way things are done around here.” You’re in control and you establish the ‘way things are done in your business.’

Reason Number Two:  Today, the phrase “job security” is an oxymoron.  With the elimination of quality benefits, pension plans, days off, and so on…what kind of security are we talking about?  Clearly you work for someone else to get a paycheck and if you’re lucky enough to get a job that you like and you actually like the people you work with – more power to you.  But even if you like what you do, there’s no guarantee that you’ll still have a job next month.

Owning a business can also provide a part-time extra income business and if you get “let go” from your job you can turn it into a full time cash machine if you choose to.  The best part – you can make it what you want and if the first idea doesn’t work you don’t get fired, you can try something else.

Reason Number Three:  If done right, you can secure your financial future in just a few years.  Retirement, what’s that!  Working for someone else and contributing to your 401K is your basic retirement plan.  I don’t know about you, but I don’t want to work 60 hour weeks until I’m 65!  There are too many resources and opportunities out there for me not to take advantage of them.  Funny Story:  I asked one of my long-time friends, who will retire next year, what she was going to do once she retired.  She said, “I’m going to get a job.”  I think we laughed for about 30 minutes because it was funny but at the same time she was so serious and we just had to laugh about it. I told her, you mean…”create jobs!”

Secure your future on your terms.

Reason Number Four:  The satisfaction of creating something from your own mind.   Have you ever experienced the pride of building a shelf that actually sits straight on the wall, or preparing an extravagant meal for your sweetie, or just building something from nothing?  For me it’s such an adrenaline rush to look back and say, “Wow, look at what I’ve created!”  And I’m actually changing people’s lives for the better.  It can be so gratifying to know that you’ve created the physical representation of a dream or a thought.

Matter of fact, as a small business owner you will get the thrill of creation on a daily basis, not to mention the thrill of actually providing solutions to a particular target market that you can help.  I just get so motivated when the creative juices start flowing and I do believe that everyone has those creative juices; sometimes they just need to be woken up with a SWIFT kick in the pants!

Reason Number Five:  You can start a very lucrative business with minimal investment.  You don’t need thousands of dollars just to start the business; I’ve known very successful business owners who’ve started their businesses with just $500.  I started my business 18 years ago with $250 (and the expenses for starting a business today are even less)!  I got a domain name, a logo, and some office supplies and I was off selling to my first client.  Depending on your business and your skill sets, you can start small and build from there.  You may want to be a certain size, but you don’t have to break the bank to start or expand your business.  And, technology (the Internet included) has leveled the playing field between small business and big business.

You can easily create something that people want, sell it online and make money while you sleep!

Keep this list handy if you ever feel overwhelmed, stressed or discombobulated.  No matter if you’ve been in business 20 years or you’re still on the fence, remembering “why” you started or want to start a business can invigorate you!

It’s time to engage!

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About the Author ()

Duncan has owned and operated Efficio, Inc., a business education company for over 20 years. As the visionary leader of Efficio, Inc., Duncan is spearheading a global initiative to help entrepreneurs build successful business enterprises. In addition, over the last seven years, Duncan’s expertise extends to seven additional viable businesses including dimage, an image consulting firm, Efficio Radio Network, a small business talk Internet Radio Station, Efficio's Business Institute, an online school for entrepreneurial credentials, Tactical Growth, a strategic marketing firm for small business owners and For Educators, an organization dedicated to serving higher education institutions with entrepreneurial curriculum, marketing support and program development.

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