Run a Business

Running Your Own Small Business

Imagine that you have a great idea for a small business. Now assume that you have determined that you have what it takes to own a small business and you have the capital and other resources to get it started. Now you need to decide whether you want to dive in and start your business after all.

The following are some reasons why people choose to own a business:

The satisfaction of developing something from scratch: Have you ever experienced the pride of building a chair, preparing a gourmet meal, or providing counseling service that helps someone solve a vexing financial problem? The small-business owner is treated to the thrill of creation on a daily basis, not to mention the thrill of solving a customer's problem. This can be very rewarding and in fact is what keeps many small business owners highly motivated.

Establishment of their own culture and not having to conform to someone else's culture: No more standing around the water cooler complaining about "the way things are around here." After you've started your own business, the way things are around here is a function of the way you intend them to be.

Financial upside: If you make the money, you get to spend the money and save the money. It all goes into your pockets and not someone else's. Consider Oprah Winfrey, Ted Turner, Steve Jobs, and Martha Stewart. It's no surprise that these one-time small-business owners are now amongst the nation's wealthiest entrepreneurs (and they get plenty of the profits too).

Self-sufficiency: When working for someone else has proven to be a less-than-gratifying experience, some people have learned that a better way to provide for themselves and their families is to create the opportunity themselves. This gives them complete independence and freedom to set their own direction and be responsible only to themselves.

Flexibility: Perhaps you prefer to work in the evenings because you want to spend more time with the kids during the day. As a small-business owner, despite the long hours you work, you have more control over keeping a schedule that works best for you. After all, you are the director of you business so you can generally tailor your schedule to meet your personal needs, as well as those of your customers. This is a significant benefit that is often not found in the normal workplace environment.