There are more than 7.8 million women-owned businesses in the United States, according to the National Women’s Business Council. Women-owned businesses such as Arianna Huffington’s Huffington Post Media Group and Jessica Alba’s billion dollar Honest Company are making statements for women entrepreneurs across the country.
Starting a business may be daunting, but there are many benefits of being a self-made business owner. Many females start their own businesses to find work-life balance and fulfillment in their lives. A study conducted by the 2013 Global Entrepreneurship Monitor (GEM) U.S. Report claimed that women entrepreneurs in America where one of the happiest people in the world. Women that owned their own ventures in the study ranked their well-being higher than non-business owning entrepreneurial women.
Renowned fashion designer Vera Wang says that she never compared her successes to that of others when first starting off as a business owner. However, she was inspired by passion to see her business through.
“People have done far better than me in far shorter periods of time, but that wasn’t my story,” Vera Wang says in an April 2013 Business of Fashion article. “It was brick by brick, client by client, store by store. It’s been a trip of passion, but it has not been a quick trip. Nor has it been easy. And that is the truth.”
According to a 2014 Huffington post article, 47 percent of women claimed passion motivated them to start their own businesses.
Although there are odds against women in business, some women such as Facebook executive Sheryl Sandberg wish to close the confidence gap deterring women from starting their own businesses. In her book “Lean In” she makes some revealing statements on women and offers solutions to empower entrepreneurial women to succeed.
Whether it’s expanding your business or starting from scratch being your own boss is a one-of-a-kind fulfilling experience here are 10 reasons that will convince you to start your own venture:
- Job stability. Enjoy knowing you have employment for life as an option and work hard to reach success.
- Create your own vision. Being a business owner allows you to customize your business vision and tailor it to your goals.
- Time management. Learn to handle what it takes to keep a business running and gain some management skills along the way.
- Accept a challenge step out of your comfort zone. Don’t be stuck in the same routine and challenge yourself to new business goals or personal goals.
- Tax benefits. One benefit you can participate in is tax write-offs!
- Create something new and viable. Take the opportunity to create and expand and see your business grow to new heights.
- Financial independence. Owning your own business also mean profiting from your business and reaping the monetary benefits.
- Become an expert and guru in your field. Teaching and guiding others is always beneficial and is a great way to build your own skill base.
- Branding and recognition. Expanding your business also means constantly working on the image you want your public to know about your business and of yourself.
- Inspire other women and pay it forward. According to entrepreneur.com 65% of women entrepreneurs reinvest their business earnings to continue future business growth.
