8 Hidden Perks to Business Ownership

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8 Hidden Perks to Business Ownership

When sitting down to make any decision, an informed citizen looks at all sides. They point out the good, the bad, and even the ugly, and then they use those variables to make the smart decision. The one that holds the most perks, eliminates the most cons, and makes for a happy camper. (Sometimes being happy outweighs even multiple pros on a list.) It’s simply the most thorough and efficient way to embark on any life change – even a small one.

Over time, however, those lists can change. When was the last time you went back and made a follow up list? One that gave up-to-date info on all the life changes each decision caused, and how you could even further improve on them? Unless you really like lists, chances are that follow up method wasn’t even on your radar (until now). But by doing so, you can ensure the decision you made is still the best one around. Or determine how it can be adjusted to even further suit your needs. You may even find there are more perks than you first realized.

Such has been the case for small business owners. From those who are brand new to the game to those who might be on their second, fifth, or tenth franchise deal, they’ve found:

8. The Tax Write-offs are Incredible

As in, even better than you’d imagined. And if you imagined they’d be great 1) good for you and 2) you’re in for a very accurate treat. Meals, bills, vehicles, expenses, and more can all be chalked against business income. Accounting for some incredible overall savings come tax day.

7. Job Security

In a time where the job market isn’t exactly great, you’re in luck. You control your own career. Sure it’s work to ensure there’s plenty of business and that the dollars keep flowing, but at the reward of having a steady paycheck and not having to wonder if you’re going to get laid off. If you stop working, it’s by choice, not because someone up in corporate decided it for you – meaning you’re free to relax and bask in your regular income for years on end.

6. Conversation Starters

There’s something about being self-employed that really gets people asking questions. They want to know how you did it, why you did it, and so on. No matter what type of personal questions they ask, however, you’ll never be in need of a cocktail party conversation starter again, just go for the simple “What do you do?” and watch the excitement fly. In fact, you might get tired of having this conversation!

5. You Control the Market

Need will always change over time, but you have a direct hand in sales and promotions – any marketing tactic to keep business moving. Including ways to outsell the competition. Never underestimate this reach, especially when business is running slow.

4. You’re Your Own Biggest Success Story

If you don’t believe in your brand, who will? Which also means, considering it’s your career, you likely believe in your brand and/or services the most. Show folks (without shoving it down their throat) just how well you can perform; serve as a walking advertisement each and every day. It’s essentially marketing while you sleep!

3. Personal Relationships

Over the course of your career, you’ll have the chance to create personal relationships with both your clients and your employees. Not only is this a trusted way to become better acquainted with others, it will allow them to better trust you, earning both long-term business and long-term friendships.

2. You Earn a Reputation … in the Good Way

People will learn to know you as “the cleaning lady” or “the one to call for birthday parties,” or whatever respective title will help them remember who you are and what you do. It might seem trivial, but this is a factor that sets your business into the back of minds, and reminds them to call (or recommend) your services as needed.

1. You’ll Love Your Work

Seeing as you’re the one choosing the job, this one might not be that hidden. But it’s important enough to consider repeatedly. Who else gets to build their own career into something they want to do every single day? It’s a formula to be thankful for and to strive to reach constantly … even after the business has been bought.

  • Author: Jason Hightower
  • Date: August 28, 2015
  • Category: General Franchise Information
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