4 benefits of being in business
Deciding to run your own business is a big decision that carries a lot of responsibility. You’re at the heart of operations and whether the business is a success or not is largely down to you. That’s why you’ll need to be driven, passionate, motivated and hard working – but there are plenty of potential rewards for your commitment.
Independence and control of direction are big calling cards for entrepreneurs interested in starting a business and being their own bosses. You get to make the key decisions, see the returns, but also learn from the losses.
If there is a new direction you want to take, you don’t need to get it approved by anyone – you have 100% responsibility for where you take your business and how you get it there.
If there is a cause or initiative you’re passionate about, you can drive the agenda throughout your business and beyond. When we spoke to Gina Di Brita of Numero Uno Coffee Roasters in Sydney, she described how “the very big part of my offering is ethically sourced coffees. People are becoming more and more aware of the mass production of coffee out there. That is not what we do, we’re not mass-producing roasters, we’re actually speciality coffee roasters.”
The way you choose to run your business – including how you source and sell – can have a significant impact across the supply chain. This influence gives you the opportunity to share your passion with your peers and be a leader in your business community.
Unlike an employee who works for a company, when you run the show, you get to choose who you do business with. When they first start trading, many people will take on any customer that comes along – just to get the cash flow moving in a positive direction. Then as the business matures, business owners tend to choose customers who are more closely aligned to their ethos.
But before you get too fussy, it’s worth remembering that each time you take on a new customer, you open a new network of contacts for your business.
A business that’s born from your own experience, hard work and effort, can be so much more rewarding than just working in a job. You’ll be stretched in ways you never thought possible, and you’ll pick up many new skills along the way.
When we spoke to Sasha Hanic of In The Deep Swim School, she gave us an example from her business. “I really took over a swim school for a challenge, to learn and grow and get some business skills,” she said. “We started in 2007 with 50 kids and now we’ve grown to close to 1,500, so it has been a big journey.”
Whatever the nature of your business, you can turn it into an exciting adventure and great learning experience. Remember, your business is part of an eco-system and it gives you the opportunity to have a positive impact on all those you work with and for.
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness for the information to your own circumstances and, if necessary, seek appropriate professional advice.