Originally Published in Forbes,1/25/19: Nine Reasons To Explore Entrepreneurship. Written by Terry Powell, Visionary Founder of The Entrepreneur’s Source. Not everybody wants to be their own boss. It’s a lot of responsibility, for starters. But for some people, it’s a yearning. It’s something they have to do because they have always had an entrepreneurial itch. I know, having met many of those people as the founder of an alternative career coaching franchise. I routinely work with men and women who want to call the shots. If that’s you, I can tell you, this is a great time to consider business ownership. Here’s why.
1. The economy is strong.
There are good arguments for starting a company at any time, even during a downturn. But when the economy is humming, starting a business makes sense because it’s more likely that customers with discretionary income are going to be attracted to your business.
2. You have goals you need to fulfill.
You probably have an idea of what you want your life to be like, and if your thoughts about your current job range from the mediocre to unhappy, then why prolong that? As I always tell the alternative career seekers who reach out to us, we all need to pursue our ideal income, lifestyle, wealth and equity goals. In other words, you want to achieve a certain income, so you can have the lifestyle you want, the wealth that will allow you to continue building on that lifestyle and the equity to maintain your lifestyle once you retire. You can’t do that if you’re stuck in a dead-end job, working for somebody else.
3. Society is open to new ideas, more than ever.
You used to have fewer choices when it came to your fast food, such as burgers and chicken. Now there are vegan chains and even cereal bar restaurants. Who would have guessed that escape room franchises would be a thing? People want to have fun, and they want what they want, and more than ever, you can give it to them.
4. You want more time with your family.
Owning and running your own business is challenging and, in the beginning, can also be time-consuming. I don’t want to suggest that if you buy a franchise and become a business owner, you’ll never miss your kid’s soccer game. But at least if you do, you’re the one making that choice. That said, running your own business does give you far more flexibility than you have when you’re working for somebody else. If your goal is to coach your kid’s soccer team while running your own business, or to run your business and never miss important family milestones and events, you can do that. In fact, there are some franchises that you can run from your own home.