Let’s face it, even when you reach the pinnacle of your career or you are appointed a bank president you cannot pass that position or career to your spouse or children. The position starts and ends with you. Not so for a business; you can pass down your thriving business to generations and generations. You are doing it for posterity. Some family businesses are hundred of years old and have been passed down several generations.
The most highly taxed group of people everywhere in the world are the employees. They are taxed for every penny they make. There are very limited ways where an employee can legally avoid tax. Business owners have a lot of leeway in ‘determining’ how much tax they can pay off their revenue. Essentially they pay tax after expenditure amongst other benefits like tax holidays in some instances.
Employees seek security, they want a steady paycheck and an established system. Entrepreneurs seek freedom. Freedom to make decisions own way, freedom to determine own tasks and freedom to choose between what really matters to you and what doesn’t.
In an economy like ours that is producing hundreds of thousands grandaunts every year but has very limited job opportunities, enterprises are the answer. Starting a business will mean that someone else will be employed in the position you’ve left. Also, you will be creating job opportunities for yourself and others whether directly or indirectly. For instance if you manufacture machines which people buy and begin food processing business you are creating employment both directly and indirectly.
Days are long gone when you held the a job for 40 years and after retiring the company takes care of you till you die. Today lay-offs are happening frequently and erratically. You really can never tell when you will be rendered redundant even though you are the most hardworking employee in your company. Being a business owner means creating your own job security.
Obey the nudge
You’ve been toying with an idea far too long, it’s getting louder and it’s not going away. Something inside is telling you that it’s time. Shed off your fears and venture out. It’s better to nurse the pain of failure that to live with the pain of regret wondering what would have happened if you started out.
Work out your dreams
When you are an employee you are serving the vision of the founder of the company. In reality, being an employee is never about you, it all about the owner, period! The rest are details. If you want to pursue your own vision, start a business, get to work and hire others to help you achieve your vision.
Change the world
Changing the world is not everyone’s piece of cake. But there are some business owners who literary changed the way things are done in the world. E.g. Henry Ford made sure cars are affordable to the masses. Microsoft founder Bill Gates has made computers a centerpiece in every industry. Steve Jobs of Apple made us believe that we needed a smart phone. Elon Musk has proved that indeed electricity is a real alternative for fossil fuels in motor vehicles and that it’s a commercially viable option.
If you have other reasons why it’s time to start a business please comment below.