The unemployment rate is a sobering message in the headlines each day, leading many to consider starting their own businesses. Whether or not you have your own business, it is good to review the positives and negatives because they have a message for all workers.
PLUS:
Business owners are often happier. They usually enjoy their field and they are in control, whether it is an up or a down market. Business owners outscore 10 other occupational groups in overall well-being, based on the Gallup-Healthways Well-Being Index released on September 16, 2009.
In any field, look for a situation that can provide a setting similar to a business owner’s:
- Work you enjoy
- Some control over the way you work, with regard to process and results
- Flexibility to schedule priorities, both business and personal
MINUS:
Half of full-time small businesses fail within the first five years, according to the National Federation of Independent Business Research Foundation since owners are:
- More likely to work very long hours, sacrificing a work-life balance
- Usually good in their field but can lack organizational skills
Without good time management training and workplace skills, productivity will suffer and a business owner will waste a great deal of company time because:
- Hours are already long without disorganization adding more
- Employees will not have guidelines and systems, so they take longer to do the work and increases expenses.
- The company will lack clear focus due to the lack of organization.
As the well-being study demonstrated, the more control you have over your work and your day, the happier you will be. Becoming more organized at work will gain more control, whether or not you are self-employed.
