Ever catch yourself daydreaming at your desk, wondering what it would be like to finally be your own boss? With a little bit of planning and a lot of dedication, your dream could be more realistic than you think!
One of the biggest barriers holding people back is the fear of walking away from a guaranteed pay cheque. “Will I be able to cover this month’s mortgage?”
There’s also the issue of moving into roles you might not be comfortable with. As a new business owner, you’ll work on everything from finances to marketing and account relationships to stocking up the tea cupboard. It’ll certainly take you out of your comfort zone – but that’s all part of the excitement!
And if you decide to take the leap, here are some of the benefits of running and growing your own business:
- You’ve got control
If you’re the type of person that finds it difficult to have a boss, running your own business is one of the few ways you can avoid the hassle of directly answering to somebody else. Of course, that means you’ve also got 100% responsibility, too. If something needs doing in your business, it’s up to you to sort it out.
- You’re spreading your risk
With a traditional job, your pay is 100% reliant on the success of the company you work for or your relationship with your boss. If the company’s performance takes a turn for the worse, or you fall out with your boss, you’re at risk of losing all of your income. If you work for yourself, it’s less likely that any single supplier will account for 100% of your income. So you might also be less likely to lose everything at once.
- Your financial future is in your own hands
Frustrated about being overlooked for a promotion, again? Wondering how you’ll ever create the life you want when all you can see coming is years of incremental pay rises that will do relatively little to affect your standard of living? Make a success of your own business, and your earning potential could rocket. As well as your salary, you could take a bonus from any year-end profits. And whenever you want to do something else, your business will be a valuable asset that you could sell to generate even more money.
- You’ll finally get an answer to “Could I do it?”
Don’t die with the music in you. That’s a phrase many entrepreneurs live by. If you’ve got an idea, if you’re obsessed with trying something out and can’t simply forget about it, then make sure you create the circumstances where you can try it. Otherwise you’re storing up a lifetime of resentment, disappointment and regret over the fact that you never gave it a crack. One way or another, getting an answer to the “Could I do it?” question will put your mind at peace.
Growing something from the ground up is one of the most challenging – and rewarding – things anyone can do. It will likely take sweat and tears. There’ll be plenty of bumps in the road, certainly in the early days.
But even if it goes wrong, you’ll have learned so much from the experience.
And if you do succeed and your business soars, you’ll wonder why it took you so long to take the plunge. If you’ve got the plans and finances in place, go for it!
To find out more about how your business can successfully process card payments through a range of different card terminals, visit our Card Machines section.