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The Perks of Being a Small Business Owner

The Perks of Being a Small Business Owner
Employee Emeritus Employee Emeritus ‎07-14-2015 12:46 PM

full-article-May21-2015.JPGMany people assume the most significant perk of being a small business owner is being your own boss. While this is often cited at the top of the list, many small business owners identify several other perks they never considered when they started their business, some being lifestyle related and others financial. 

Some of the lifestyle perks are obvious, including:
• Better control of your work/life balance
• Having your ideas generate revenue
• Being able to work more efficiently
• Creating an atmosphere more conducive to how you work.

While these are all good reasons to be a small business owner, there’s more. Entrepreneurship and being able to realize your vision as a tangible business can give you a sense of accomplishment. Small business innovation and entrepreneurship drive our economy and place you among a class of leaders that can open up other business and networking opportunities. Being a business leader means you have hands-on experience with every aspect of your company from marketing to logistics. 

A perk that can give great professional and personal satisfaction is being able to build and grow your own team. If you are an inspirational leader, you not only get to see the fruits of your labor but also get to witness the occupational growth of your employees. At the end of the day, being able to provide employment to others can be one of the most rewarding aspects of owning a small business.

In addition to choosing your team you can also choose your client base and the vendors you work with. Often larger companies have a limited client list, or vendors that you must use regardless of whether you think they are right for the job. Being able to choose your vendors means you can better control the quality of your products and services. In addition, you are able to work with clientele that perhaps fits your lifestyle and business vision more closely.

Financially, the risks and rewards are all yours -- although the risks can be reduced by using technology to replace expensive infrastructure that historically has been strong hurdles to running a business. Cumbersome and expensive servers can be replaced with cloud solutions, and expensive point of sale infrastructure can be replaced with tablets and online commerce. Fiber-optic networks are the best choice to run these solutions. Guidelines on what type of solutions are best for your business can be found at smallbizready.com. 

As a small business owner it’s about you focusing on your passion and realizing your dream. Harness this passion and direct it towards your business goals. Your quality of life will grow with the success of your business.

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Contact the editor: tumara.r.jordan@verizon.com