The greatest benefit to self-employment is the chance to design your own work life. Unlike a traditional job where the boss dictates what you do and when to do it, an entrepreneur can shape a new business to serve his or her personal priorities.
Make sure you go into a business that’s right for you by first understanding your own priorities:
– Family: If spending lots of time with your family is important to you, don’t start a retail business or anything involving long hours or extensive travel. Perhaps an Internet-based company or something virtual will allow you to work from home and on your schedule.
– Money: If making a lot of money quickly is important to you, then start a business where you’ll be paid well for your efforts or one that offers high margins, such as a service-based venture.
– Community: If you want to be active with your community or faith, go into a business offering flexible hours or easy-to-operate systems that employees can run in your absence. A franchise or other turn-key opportunity might be best.