Updated: May 6, 2018
Friends often ask me why I chose to start my own business as a health insurance agent and my daughter is quick to remind me of the guaranteed paycheck I once enjoyed when I have a slow week. The answer is freedom. Freedom to choose my work hours, freedom to work all weekend and then go fishing on Monday, freedom to be sure I never miss another school function and freedom to be me. Without a doubt freedom is why I'm my own boss, but there are other advantages too. In this post I'll share with you six well known advantages and some maybe not so well known advantages to having "free agent" status.
You will never be bored. Every single day presents challenges that are brand new opportunities to help keep you on your feet. There's always something to do and before you're finished you'll have 5 other ideas or things you want to work on.
The satisfaction of saying you’re a business owner is awesome. It really does feel good to have the ability to say, “this is mine”. There's absolutely no greater shot of adrenaline compared to the one you will get after reaching a target and knowing you did your best.
There can be a tax benefit. The self-employed often have an advantage with regards to taxes. Whether or not they have un-reimbursed out-of-pocket costs, employees are often restricted in some ways when it comes to deducting such things on their personal taxes. You won't find many deductions when it comes to workers. The business owner however has lots of flexibility when it comes to tax planning.
The possibility to change your life. Have a good idea for a product or service? No one is stopping you and no one will steal the credit You have the potential to create a huge impact and big profit.
You're paid your true worth. Want more growth and possibilities? Simply work harder. If you're a hard worker and do what you do better than the rest, you'll be rewarded appropriately. It's not even usually like work. I don't know if everyone feels this way -- but that simply means they haven’t found what they truly want to do. Once you do find that perfect career you'll never think of what you do as work.
For those who aren't ready to quit their day jobs just yet there are plenty of opportunities for self starters looking for business opportunities. Make sure that any opportunity you pursue is with a product or service that people want and/or need and that it's something you think might enjoy doing. It also helps if the company offers assistance in learning how to take advantage of tax deductions for business owners and provides marketing and sales support. CompMed Rx offers one such program for those looking for a part time opportunity and the ability to expand their business in the future.