Why You Should Own Your Own Business

Hi there,

Well, it is not easy but for sure but I like to think it's so worth it.  The way I see it is you can continue to work hard for someone else's dream or you can work even harder to build your own vision or dream.

When it comes to business and investing, some of the benefits of either is owning your own business.

You can get your “feet wet” in the business ownership arena once you've experienced certain areas in the world of entrepreneurship.  This year I found there are thousands of entrepreneurs starting a new business daily and they are doing so in a very inexpensive way.  Of course, it's not the traditional way.  This year I got the opportunity to learn more and study more about it.  Actually, I am now  scaling up this business that cost me way less than starting a brick and mortar.

I thought I would give an overview of benefits I have witnessed and experienced when owning a business especially online.

Reasons and benefits; entrepreneurship

 
There are many reasons why owning your own business is beneficial for those who have that “entrepreneurial” mindset. There are thousands and thousands of people who have that “desire” to succeed because they want to make more money and be self-sufficient, but these are four of the most common reasons why most people own their own business and how it benefits them for the most part:

1. Normally, once you have your business set-up to the point where you can come and go as you please, or once your business is established and you have your management prioritized, you may spend more time with your family or friends as you please. For instance, if your business hours are from 8:00 am to 5:00 pm, you wouldn't have to be there until 3 pm (or an hour before closing) because you're the owner. In other words, you can work your own schedule or your own hours if you would like. So, the flexibility is there as a business owner which is a major benefit when owning your own business.

2. Another reason owning your own business will benefit you is you'll be able to set your own policies and rules for your company. You are more likely to “call the shots” when it comes to who, what, where, when, or, basically, calling-out the “Five W's”. You will be in control of everything; you may not like to be told what to do, so no one will tell you what to do. It's because you know the business you're in, whether it's a computer shop or print shop, you know the vendors, the products, the protocol, the equipment (or at least you should), otherwise you hire someone who will do this for you while you reap the benefits as the owner.  That's basically called outsourcing in the online world.

3. One of the great things about being a business owner is that you set the deadlines for proposal, for instance, or if you are going to bid on a job, you set the due dates for the proposals. You wouldn't have to rush yourself because you set the deadlines and that means if you want to push the deadline back, then you can push it back an hour or two for those who are working for you.

4. The best part of being a business owner more than anything is you get to pick your own pay or salary. Unfair as it may sound to the employees working for you, you are the owner. You are taking on the full responsibility of the success of your company so you deserve to determine your own salary.  It is your business, your company, so you can give yourself a raise or not. When you see your business profit, great, or when it's in a slump, you have to make the necessary adjustments. You are the owner.

Online Business start-ups.

 
Startup businesses such as the following are more in demand today because they are of the ripeness and freshness of the technology that's so far advanced, some people don't even know they exist but on T.V. Look into these sectors according to Inc. magazine online; you'll see how your dollar will grow if you have enough to invest in these technologically advanced sectors. This is a list of the best of the best in tomorrow's growing industries and economy that maybe you should consider.

1. Drones

The drone-industry is fresh and ripe and anyone who considers themselves an investor or entrepreneur should tap into this business or at least go into a joint venture with someone who knows about drones. A lucrative and stable investment for the future investor. Tapping into this now will definitely yield a high return for business minded. Drone were once considered a military type of device, but now the gamers are in, and so should you, not to forget those who are into science and math, drones are here and they are watching you, invest in them, including all the materials, parts, and components needed to make and create them.  There are so many ways you could dive into this industry.  You could become an affiliate or you could open a brick and mortar store to get started in this market or simply set up a website today and get started in this business.

2. Virtual reality businesses

There has been so much talk of virtual reality and with much speculation, there's a business behind. There are consumers who purchase more than several million Virtual reality headsets by the end of this year (2016). The industry is breaking through because of the special sector in virtual reality. Anyone who invests in the virtual reality industry will see a great return on their investment. This sector includes the entertainment industry such as in the music, gaming, or in the movie industry.

3. Artificial Intelligence Machine

When you know some of the AI technology, you're in; in the various industries that gather info and logistics for companies that are massive today. This is the activity around artificial intelligence such as smart cars, automated processing of information such as the collection of info for companies. Think of the “crowdsources” online or at the stores; they gather information for retailers and report back to those who hired them. (See Crowdsourcing online.)

4. Food preparation and analytics

The preparation and distribution of food products are in demand. They are profitable and more efficient; plus, this is referencing the “smart kitchen products and devices” which assists in food management such as restaurant invoicing and count.

Most restaurants have software like this, such as (Chili's, Red Lobster or the Darden food industries) for their managers and waitstaff. This not only keeps the inventory control in check but also helps with the ordering of the entire restaurant's food. This is and will be one of the best assets a restaurant will invest in besides their employees because it helps with the management of their food inventory.

5. Biometric Scanning Software

If you are into guns, for instance, then you should know what a gun safe is. One of the best gun safes on the market is the “biometric gun safe”. These safes utilize your “thumbprint or fingerprint” as the key to the safe in order to open it.

Hence, the development of fingerprints, eyes, and facial scanning software is the business of today and the future. It's accelerating like the speed of light. With investors and financial gurus putting their money where it counts, the private and public markets have now grown in the biometric sector.

This is considered a lucrative investment; the healthcare, military, and police forces have invested in these sectors decades ago, but it's coming into the forefront more so because of the security it yields.

6. Fraud Detection (Software)

Because of the “fraudulent online” transactions, there will be a higher demand for the fraud detection software business. This is expected nowadays, and “tapping” into this type of business will yield a high return for the investor or entrepreneur who wants to catch a thief. Similarly, the security business is already in demand.

There are not only hackers that utilize criminal activity software that stabilize fraud use within the corporate businesses, but business owners are hiring these hackers to catch a thief with these types of Fraud Detection software systems within their organizations. Nevertheless, a high return in investments will be seen in those “security and detect” fraud software businesses; they're in demand now, as we speak…so, thanks a lot Mr. Robot.

7. Corporate Wellness

There are companies that need their employees to be healthy and vital because of the need for them to be at work. Without their employees, their business capital will not grow, plus, without their workers, how will anything get done?

So, all in all, the “corporate wellness” sector is in demand. Who sees this in demand are the small and large corporate companies. These companies will provide programs based on what their health insurances are packaging for them. This is not Obama-care either, these are health insurance companies that suggest the small and large businesses invest in their employees' health because they will yield a better return at work as opposed to those who aren't insured. Believe it or not, those health clubs that are sponsoring those businesses have a very low turnover rate. They also have a “healthy behavior” which is considered “in-demand” as well. This is another way to lower their absenteeism in the long run.

8. Sustainable Building Materials

Some building materials such as the “green” renewable resources not only are environmentally friendly but have gained popularity because they reduce waste and pollution. The United States construction industry has risen in active contracts and building and because of this trigger, the building materials sector is in demand. Another element is that the consumer's interest in sustainable energy efficient products such as solar panels will only fuel more growth in the “green” construction industry as well.

Financial investors will learn that these are only a few but the most popular to date that is in demand according to Inc. magazine online. Finally, putting your money where the businesses are in growth and returning big on investments will only help them get their money back but more so, because as their business grows, so will their bank accounts. Plus, you'll have the freedom to work on your own scheduled time or liability which is a major plus for entrepreneurs. Don't forget what major tax benefits you'll receive.