• Eric Bowie

Owning a Business Has Perks

There is tremendous intrinsic value in being a business owner. Being the boss over something of value that's both meaningful and important to others, matters. Owning your own business brings with it satisfaction of ownership, a sense of autonomy and decision making, the ability to set your own hours, and not having to answer to someone else. These perks of ownership may seem small to some, but for certain folks, these things matter.

As long as you work for someone else, you are subject to their rules, their control, and their policies. Don't expect to be allowed to visit someone's home and rearrange their furniture. If you create or build your own home, and buy your own furniture, then you are empowered, and you won't be so concerned about whether or not they like you. Entrepreneurship is an important wealth building avenue. Whether it's a side gig or a full-fledged business, you can monetize your skills and create your own rules and policies through owning a business.

Even if your business is a one man/woman show. Even if your business is small and earns you $50 a month. Even if your business is simply something you do well where you offer your goods and/or services for a small fee. None of that matters. What matters most is IT'S YOURS!!! You own it, you set policy, you set procedures, you make decisions, you crunch numbers, you project growth, you work on streamlining, you figure your hours, you figure your workload, and the best thing about it, you will never fire you! I'm not saying quit your day job. I'm saying start something small, grow it, or not grow it. Work at your own pace and enjoy the satisfaction of controlling something. Too many of us work for someone else all of our lives, yet have the ability to work for ourselves. Go for it!

It’s important to remember though, you don't need an elaborate business plan to start a business, and you don't need capitol, or a loan. Some of the greatest business plans were written on a napkin or scratch paper, and financed in some creative ways.

Here are 7 things you need:

1. You need a good idea. Ingenuity and creativity helps.

2. You need a plan. The plan should be better than the idea. Execution is everything.

3. You need a whole lot of hard work and courage. These two go hand in hand.

4. You need to start. Be prepared to learn along the way

5. You need to take some calculated risks. Nothing happens until you actually put something on the line!

6. You need to invest back into the business.

7. You need to be persistent. Drive and hunger go a long way in the entrepreneurial world.

Owning and controlling a business is hard work, but it's worth it. You can do it. No matter what industry you are in, your opportunities will be determined by what you own and control. Everything else is a side issue that simply serves as a distraction. If you don't own and control the resources, then you will not be able to compete, and you are destined to lose, because you will be beholden to those that do own and control the resources. Owning your own business gets you in the game, at the table, and makes you a player in an industry, while providing some important perks.

It's worth it!!

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