Quitting your job to build something on your own from the ground up may feel daunting, but it may just be the best decision you can make for yourself. The risks may be great, but if you hold back because of fear or insecurity, then you may just be missing out on so many positive returns.
Of course there will be times when you'll question your decision, and there will be times when you'll make a lot of mistakes. But everything is a learning experience, and if you'll allow it, starting your own business can bring you a lot of good:
1. You get to manage your own schedule.
We often complain that we don’t have enough time to do anything we want while employed. Once you start a business, you manage your own time. You can dictate when you start your day and when you’ll end it. Your office can be at home, at your favorite coffee shop, or at your store. You can easily squeeze in a merienda with friends or some me-time at your favorite spa or gym. The decision is all up to you.
2. You meet interesting people.
In the office, especially if you’re working in the backroom, your interactions are limited to people within your vicinity – your boss, your co-workers, or your staff. Once you run your own business, you will interact with a wider circle of people. You will be transacting with government employees for your permits and taxes. You will talk to bankers and investors. You will transact both with customers and suppliers. You may even haggle with vendors in Divisoria at the onset of your business. Make sure to work on your PR skills!
3. Your creative juices can flow freely.
When you run your own business, you are your own boss. You can be as wild, imaginative, and innovative as you want to be (tempered by your budget, of course). No one can shoot your ideas down, which can either be good or bad, but challenging nonetheless. With the help of people you trust, you can even make them grow into better concepts.
4. You learn something new every day.
You can learn from books, seminars and mentors but nothing really beats experience. Being immersed in your business enables you to put all those concepts and theories to the test. See what works. Change or improve what doesn’t. Each day will be full of learning experiences.
5. You feel inspired and energized.
Waking up in the morning will not be as hard as it used to be when you’re pursuing a business that you are passionate about. No more "manic Mondays." No more dreading tomorrow. Although there will be challenges and disappointments, your passion will fuel your determination to succeed. You’ll always be excited and gung-ho, saying to each day, “Bring it on!”
Pamela Lloren is a Certified Public Accountant and is currently teaching accounting and finance subjects at the University of the Philippines.