business

Starting a business of your own can open a world of opportunities and options. A close look at successful entrepreneurs indicates that the majority of them run their own business which brings in a residual income stream. Below are some of the reasons why you need to start your own business this year:

Imagine how it would feel to get up at your own sweet time and not hurry to office in the regular chaos of snarling traffic. And then, to begin the day as though you are fresh from home and nothing has happened. You are your boss, and you determine when to resume and when to close.

Extra Income has not hurt anyone up to now, and it should not be hurting you either. If you are willing to do that extra bit of work or travel that extra mile for your boss, I am sure you will be more than willing to do so for yourself, especially if you feel that it would improve the quality of life of you and your family.

Multiple streams of Income does not come for free. It involves hard work! It is not hard work when you are doing what you are passionate about. The benefits of creating multiple income streams far outweigh the risk and stress involved.

I consider it foolish working hard daily, only to be paid peanuts as salary every month. Just check the following benefits accruing to every business owner:

1.Confidence and Fulfillment
Having your own business makes you more of a complete person who can proudly say that he/ she is an entrepreneur who has achieved something.

2. Limitations of earning do not exist

You can earn as much as you want by just putting more effort and the risk of financial failure is ultimately eliminated

3. Work at your own pace
The monotony of 8:00 am to 5:00 pm is eliminated. You have the advantage of being your timekeeper. Flexibility enables the average entrepreneur to perform at the optimum.

4. Job security and fear of unemployment becomes history
The fear of been sacked ranks as the number one phobia among employees. This fear can become a major obstacle to achieving the goal of having your own business.

5. Flexibility to do whatever you want to do, whenever you want to do it

Working for others can reduce you to a human-robot because your suggestions may sometimes be discarded at the expense of management policy and decisions.

6. You retire when you feel like not when you become old and weak
I once had a boss who after retiring from service became too weak to do anything meaningful. This was someone who had put in 35 years of meritorious service to the company and here he was living in a company apartment. He did not have a home of his own, and to make matter worse, he did not have a business of his own. That was the day I decided to opt for a business of my own and end the rat race of paid employment.

7. You will be your boss with no one looking over your shoulder
The joy and freedom to take the crucial decision that will ultimately shape your business can be exciting and at the same time challenging. It is, however, a motivational factor as an entrepreneur.

Success is very much achievable to everybody. Believe that and you have taken the first step on your way to starting your own business in 2020.