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Essay On The Advantages And Disadvantages Of Running Your Own Business

810 Words4 Pages

Having a business of your own can be one of the most satisfying experiences in life. However like all good things, owning and running your own personal business still has its pros and cons attached to it. For a number of people, owning and operating their own business is the only course of action for them, while for others, a regular nine to five job works well for them. Running your own small business is quite different from any other job you may take on. It’s a pathway to a completely different lifestyle. Often times, you may find yourself wondering if you are ready for the absolute commitment required to make the business a success.
If the thought of being in control and personally running your own business excites and drives you then owning …show more content…

Research has shown that self-employed entrepreneurs and business owners are three times more likely to become millionaires than those in conventional employer-employee arrangement. As a business owner, your earning power is theoretically without any limits as you have the opportunity to go as far as your business will take you. You also get to benefit directly from your success and take as little or as much from your business as you desire. The proverbial ‘fruits’ of your labors literally belong to you.
Another immense benefit of owning and running a business, when viewed from a professional standpoint, is the fact that being an entrepreneur affords you the opportunity of advancing faster in life than you would in a conventional office setting. You won’t in any way be limited by what your superiors think of feel; neither will your growth and expansion be hindered because you lack experience or seniority. Your success or failure depends entirely on your own merits. Asides from the personal, financial and professional benefits of having a business of your own discussed above, here are a few other Pros and Cons attached to owing a business.
Pros
• You are totally in control of everything, directing your business however you see fit. Simply put, you are the boss!
• You get to customized work environment to your taste.
• More enjoyment and less

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