When people talk about owning their own business, they discuss the concept of “being your own boss.” Overall owning your business is liberating! Entrepreneurs make their own decisions – ranging from where they work to how much money they make. If you are thinking about making your idea a reality, 2022 could be your year! Here are ten reasons why you shouldn’t wait to go for it in the new year:
- It’s time for you to take control of when and where you work.
There’s no better time than the present to regain control of how much you work. Many new entrepreneurs start their own businesses for this very reason. Your employer’s lack of flexibility with hourly requirements and whether or not employees have to live or work in a particular location might be restricting your ability to grow.
- It’s time to start new businesses, despite the pandemic.
The US Chamber of Commerce says that the pandemic should not deter entrepreneurs from beginning new business ventures. In fact, the pandemic presents an advantage for startups: the pandemic necessitates innovation, and who better to innovate than new businesses? “Entrepreneurs are a self-sufficient and determined breed,” proven by the fact that early in the pandemic, only 2.6% of entrepreneurs abandoned plans to open their businesses.
- It’s time for you to be able to make your own business decisions.
When you work for someone else, you can make business “suggestions,” but, ultimately the decision-making power is out of your hands. Starting your own business means that you finally get the final say when business decisions are at hand in 2022.
- It’s time for you to be able to take chances that you know will pay off.
Intuitive entrepreneurs know when risk is necessary, and they can envision the reward, even if remote. As the person in the driver’s seat, you can finally take the chances you know you’re missing out on.
- It’s time to pursue your passions.
As an entrepreneur in 2022, you can finally work on something you have a true passion for. When you follow someone else’s dreams, you’re not as motivated, and you might not be able to achieve as much.
- It’s time for you to solve real problems.
As a would-be entrepreneur, you’ve identified real-world problems that need a solution. When you’re working as an employee, problems may seem very remote to you. You may not believe in the solution the way you would as an entrepreneur.
- It’s time for you to be able to benefit from being a business owner.
Once you start your business in 2022, you can pursue various tax benefits. Some tax breaks benefitting business owners include the ability to write off 100% of their healthcare premiums and home office deductions. The key to obtaining these tax breaks is good record keeping, so be sure to keep track of your expenses as you go.
- It’s time for you to expand your abilities.
Every small business owner needs a set of essential skills. Starting up your business helps you grow in your capabilities and become proficient in financial literacy, leadership, and delegation, among others. Entrepreneurs wear many hats, and the skills you build early in your small business’s formation will serve you well beyond 2022.
- It’s time for you to set your own salary.
Small business owners enjoy control over many areas of their career, and creating money-making opportunities is one of them. Small business owners set their own pay structure. Just because you can determine your pay as an entrepreneur does not mean you can pay yourself “whatever you want,” however. You should follow guidelines when setting a salary for yourself.
- It’s time for you to feel the support of your community.
Finally, the last reason why you should get your small business up and running in 2022 is that your community will benefit from your product, and you will feel their support in return. Local businesses make West Virginia’s communities stronger and more welcoming. Think about the energy your small business could inject into your local economy next year, and make plans to get it done.
When you’re starting your business, there are boxes to check and steps to take along the way. 3 Steps to Start Up is committed to being with West Virginia entrepreneurs every step of the way. See our earlier December blog (link to be added) detailing the steps you need to tackle to kickstart your small business in 2022! It’s time to contact 3 Steps to Start Up today, so we can help make your vision a reality.
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