The Tribune

Running your own business offers many perks. But deciding to start one is a leap of faith. It requires pushing beyond your comfort zone. If that idea excites you, then you may be ready to take the plunge and be the chief executive of your own company. It may require taking a few risk, but the possibility of significant rewards is huge. If you are not yet convinced, here are some of the best reasons for starting your own business.

Starting your own business offers a more flexible lifestyle rather than running on a hamster wheel for years. The sky is the limit when you are the boss. Nobody is looking over your shoulder making sure you do it their way, and on their time.

Starting a business is hard work, but it is comforting to know that you are doing it for yourself and your family, and not for a boss or shareholder.

The ultimate goal of being your own boss cultivates financial independence. Surely if you aspire to build wealth, there is no reason why - if you work hard - you cannot achieve that goal.

By and large, starting your own business has several financial benefits compared to working for a salary. First, you are building an enterprise that has the potential for growth and, as your business grows, the value increases. Either way, its potential is valuable.

When working for someone else, regardless of how much work you put in, the company owners will reap the ultimate rewards. Moreover, when you are your own boss, you will feel obligated to find the motivation each day. Following your dreams is exciting, as you are in control of your success each time. The day-to-day vitality of your business depends on determination, which helps to drive the rewards.

Remember you are in charge. Therefore, you have the freedom to shape your company into a passion you are proud of. The stress of climbing the ladder is real. You never know whether you will be promoted or handed a pink slip, as these life-altering decisions are in someone else’s hands and beyond your control

Part of running your own business is learning to wear many hats - from human resources and inventory management through to customer service. As your business develops, you will continue to learn new knowledge and abilities that can transform into new skills. Maybe you have thought of a way to make processes more efficient. Whatever problems you have encountered in the working world, you now have a chance to do something different with your own business.

This is your business. You set the policies and, while you are not restricted by standards and procedures, you can offer a product or a service that fits your vision and build your company according to your ideas. Many entrepreneurs declare that once they have sampled the freedom of being their own boss, they will never work for anyone else again.

To this end, you are in control of what your business will produce or sell, rather than following the formula of those who came before you. Innovation and creativity are necessary traits for a successful entrepreneur. Knowing each day brings new challenges, and exciting opportunities, is reason enough to start your own business and recognise that you have decided to take control of your own future, which is empowering. The time is now. Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game.

NB: Columnist welcomes feedback at deedee21bastian@gmail.com

ABOUT COLUMNIST: Deidre M. Bastian is a professionally-trained graphic designer/brand marketing analyst, author and certified life coach with qualifications of A.Sc. B.Sc. M.Sc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of The Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.