13 June 2022
Some benefits of running your own business are obvious. Entrepreneurs, on the whole, have two main motivations when setting up their own business: freedom and building something from the ground up. Whether it’s about spending more time with family or following a passion, we all know the big ticket benefits of taking the risk to go out on your own. But what about the things that you never saw coming?
Running a business is a complex assignment. There’s ups and downs and LinkedIn is full of stories detailing the rollercoaster. Most people who take the plunge into entrepreneurship do their research – they understand their why and know the drawbacks, but as with anything with life, the magic happens in the unexpected.
Here are our top unexpected benefits of running your own business:
When you’re the driving force behind something, you have to learn to plough through, even in the toughest times. You’ll face uncertainty, rejection, and mistakes constantly – but it’s how you handle them that matters. Business owners that take the hard times on the chin and learn from them rather than internalising them are the ones who achieve their goals. And that resilience doesn’t switch off when you close your laptop. The ability to handle personal adversity impacts every aspect of you life
The conversation around boundaries has opened up over the last few years. You’re no longer deemed lazy for leaving the office on time or considered a bad friend for cancelling dinner plans when you’re exhausted. In order to look after ourselves, it’s becoming more acceptable (and maybe even expected) to stand up for what you need – even if your needs are different to those around you. Boundaries take practice and business owners have plenty of it. Making an active decision around what your priorities are and sticking to that is a challenge a lot of entrepreneurs face, from delegating to taking intentional time out. That kind of internal work on yourself through the lens of you business will help your overall wellbeing in intangible ways.
A lot of people start a business for the freedom – the freedom to spend time with family, make decisions around their work, and incorporate what matters most to them. But there’s actually much more to it than that. While it comes with a big dose of responsibility, it also comes with lots of small freedoms that you’ve probably never considered before.
It’s an opportunity to take all the amazing little things that you loved about previous jobs, and everything you wished they’d do, and put it into practice. You’re in control – so pick the good coffee!
It might seem strange to suggest that going into business for yourself can help your personal relationships – but it does. When you’re happier you’re a better friend, partner, and family member. When you’re in control of your work life, you have better control of your personal life. Add to that the resilience and ability to set better boundaries, your relationships have everything they need to thrive.
Running a business is filled with uncertainty. Whether that’s clients who don’t think the way you do, employees that make decisions you never saw coming, or an opportunity that you hadn’t anticipated – you get used to planning with uncertainty in mind. While it’s always good to be prepared, you also have to make decisions with a moment’s notice, which is an experience not every has in their day to day. That way of working helps you stay in the present and accept things as they are, rather than ruminating on what could have/should have/would have been. Being in the present is related to mindfulness which has a whole host of benefits. It improves your memory, mental and physical health, and can even help you learn better. Who wouldn’t want more of that?
Yes, running a business can be stressful. Yes, it can be intimidating and a lot of work. No one is denying that. But if it’s right for you, it can be the best decision you ever make.
Need some help with the day to day so that you can reap more of these benefits? FD Works aim to be your best friend in finance. A true partner who take the numbers off your hands so you can get out there and spend more time with your family being in the moment and enjoying what you’ve built. Give us a call on 01454 300999 or email us at info@fd-works.co.uk to find out more.
Sustainable growth can be defined as realistically achievable growth that a company can maintain without running into problems.
