The dream of financial independence is deeply ingrained in the DNA of Americans. Day and night, across television, radio and the internet, advertisements tempt us with the promise of financial freedom: to be your own boss, to set your own hours and to reap all of the benefits of your efforts. Recent trends indicate that, in spite – or perhaps because of – a sluggish economy, there are now substantially more people pursuing this dream every day. It often said that the beginnings of Silicon Valley weren’t in the offices and computer labs of big businesses, but instead in the innovation of small technicians and thinkers working in their garages. And many would-be entrepreneurs are concluding that if you have the talent to run your own business, there’s no need to waste it working for someone else.
Startup ventures are becoming even more tempting to the modern worker, thanks to the ubiquity of online businesses. And statistics seem to confirm that this change is taking place: the rate of people who quit their jobs is increasing, but unemployment has remained consistent. This suggests that there are people quitting their jobs to start their own businesses.
The Momentum to Break Free
Whether independence means starting a business from scratch, buying an existing business, or working with a company that offers franchise opportunities, the momentum to start on your own requires the right attitude and the right plan of action. Here are some of the main motivators behind starting a business:
- Leaving a stifling corporate environment.
- Personal growth or pursuit of a long-held goal.
- Independence and the ability to set your own hours.
- Earning and receiving pay at one’s full potential.
- Looking for more excitement and the ability to put to use a range of skills.
The numbers indicate trends that most of us already know; most people simply do not like their jobs.
- only 45% of American workers say that they are satisfied with their job.
- a mere 20% feel passionate about their employment.
- a full third of American workers think that they have reached the end of their career.
- 21% want to change their career.
If any of the above reasons sound familiar to you, you may be a good candidate for business ownership. After all, you can set the pace and the growth of your own business. You can set your own goals, your own hours, and your own pay. Most importantly, you can accomplish something that no other job position can provide: self-reliance.
Living the Dream
While your peers may be at the mercy of management that is more concerned with the bottom line than their happiness, when you follow your own goals, you gain control over your job satisfaction and direction. For many Americans, owning a small business – even if it doesn’t at first pay as well as what they currently earn – is a worthwhile improvement to their psychological well-being. It offers a career without the worry of office politics, promotions or downsizing. And when the time for retirement comes, instead of a gold watch, there may be a business to hand down in the family or sell at a significant profit.
Is Business Ownership in Your Future?
So what should you do if you think you might be ready to take the first step and become a business owner? There are plenty of resources for when you are starting out. Online, check out business owner blogs, like those on Etsy or follow entrepreneurs on Twitter. Also online are groups like Meetup.com that hold local events where beginning business owners can get contacts and advice. If you are not set on a particular type of business, explore franchise opportunities, which are ideal for owners, and don’t forget to talk to a business broker about businesses for sale in your vicinity.