Why Owning A Small Business May Not Be As Risky As You ThinkFor the past several decades the American dream often consisted of working at a secure job for 30+ years, building up a hefty pension, buying a home and retiring comfortably. The past 5-10 years have had many companies rethinking the benefits they’re able to offer their employees and layoffs have become a fairly normal occurrence. Many Americans are starting to realize that owning your own business may not be as risky as it was once thought for a number of different reasons. If you have been contemplating starting your own business, Amp offers a “Free one hour consultation”.  Just text or call us at 612-799-3991.

Why Owning Your Own Business Makes Sense

Below are just a few of the reasons why owning your own business can offer more security compared to a traditional 9-5 job.

Flexibility – Many times business owners are able to have a much more flexible schedule compared to those working a traditional 9-5. Maybe you’d like to spend more time with family and catch up on work in the evenings or on the weekend? Owning your own business allows you to choose how and when to get your work done.
Extra effort is rewarded – Many times when you work for someone else, no matter how hard you work your paycheck stays the same. When you own your own business your efforts often translate directly into the bottom line of your company. This allows you to truly be compensated for the amount of effort that you’re expending.
Less risk – This may seem counterintuitive, but owning your own business can be less risky compared to a traditional job. When you own your own business you often have multiple clients or customers who pay you on a regular basis. If business slows, sure your overall revenue may drop, but it’s fairly unlikely that your revenue will drop to absolutely nothing. In a traditional job you’re completely reliant on your paycheck and if your company falls on hard times you could quickly see your income drop to nothing!
A fixed salary isn’t all it’s cracked up to be – Sure, the appeal of a consistent monthly salary may be appealing, but what about the fact that the prices of housing, food and other expenses like tuition continue to go up year after year? If your salary isn’t going up as well, you’re literally losing money each year staying in a stagnant job. By owning your own business, you can control the amount of income you produce each year.

Benefits of Small Business Ownership

Alice Pallum of AMP Business Coaching has been helping business owners grow their companies for many years. She’s worked with all sizes of businesses, everything from those just starting out to those established in their careers. If you’re interested in learning more about the many benefits of starting your own business, don’t hesitate to reach out to Alice today by phone or text at (612) 799-3991.

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