Top 10 Benefits of Starting Your Own Business
January 12, 2015 by Mike Certoma
Are you ready to trade your nine-to-five job for running your own business? Finding the right location and office space for rent or lease in Washington DC should be part of your research when considering this big leap. Depending on how big or small you want to start your new business, it can be a risky yet rewarding move. According to Inc.com, about 600,000 new businesses are created each year. So plenty of people are making the leap.
Here are 10 reasons to start your own business:
1. You Are Your Own Boss and Your Business is a Reflection of You. When you start your own company, you have more control to make your own decisions. And being self-employed allows you to direct the culture of your own company.
Kasey Gahler of Gahler Financial said, “When you’re in the driver’s seat, you are making the decisions on how best to steer your company into the future. This might be overwhelming for some and one must know when and how best to delegate. However, when you are able to make your own decisions about how best to operate day-to-day, this leads to creating a culture, a brand and an organization.”
2. Work-Life Balance. This is one of the most popular aspects of creating your own business: you can make time for the things that are most important to you—that is, of course, after you’ve initially laid a good foundation to keep your business up and running.
3. Income. As you start your own business, you may have to work longer hours than when you worked as an employee. But once you’ve established your niche in the market, you can potentially earn more than what you are originally earning.
4. Financial Independence. Some define this as having an unlimited source of cash, having the money to buy stuff that you want, or having a great retirement stockpile. Whatever purpose it may serve, being financially independent opens doors. Money can’t and won’t buy happiness, but it can help you find right the opportunities that can lead you to what can make you happy.
5. Flexible Hours and Overall Control of Your Schedule. In addition to the flexible aspect of setting your hours and schedule, you have flexibility and control of where you work and ultimately decide to locate your business. You can choose an office rental in Washington, DC or anywhere in the Metro DC area based on a best fit. Renting office space in the Washington, DC Metro area is an economical option vs. purchasing office space or getting into long-term leases.
6. Tax Benefits. As a freelancer or entrepreneur, you have the opportunity for different tax breaks. The expenses you can write off include travel, phone bills, food, car payments, and more. Some start-up businesses can even qualify for government incentives. It’s best to check with an accountant to learn about the tax benefits you may be eligible for.
7. Job Security. As your business becomes established, your job security becomes more established. And as your business grows, working with a company like Metro Offices allows you to easily scale up and down according to your business needs.
8. Skills Development. Since it’s your company, you have to know how to run it properly. That requires many different skills. Starting your own business will force you to learn sales, marketing, presentation skills, and many other skills you may not have experienced before.
9. Self-Improvement. When running your own business, there is always something new to learn. You’ll take risks, you’ll experience wins and losses and you’ll learn to keep pushing ahead regardless of the challenges you encounter. A product of facing the challenges of running your own business is becoming a better and wiser version of yourself.
10. Legacy. Another advantage of starting your own business is that you can establish a legacy. Your business—your source of great pride—can grow as large or small as you like and benefit not just you but the people you employ and the clients you serve. Truly the American Dream.
It can be nerve-racking to start a business from scratch, but the benefits you’ll reap over time can far outweigh the pressure to start. We can help you get started as we have helped many businesses get their start. Our private, shared, virtual, and open office spaces can give your company access to major business centers. Additionally, our workspace are strategically positioned throughout the Metro DC area, so you can select the location that will work best for you. Give us a call today at (703) 871-5208, and we will be happy to assist you.