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Entrepreneurship

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Why should I consider starting my own business? You can make your own hours, unlimited

income potential, creating something you can sell and you can focus on your passions.

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Consideration….

Starting your own business is a way to generate income for yourself with the flexibility of working when you want to and how you want to.

Your business can be full-time or part-time depending on your schedule.

Your business can be a supplement income to your ‘day-job’ or ‘9 to5-job’

It can be your primary income.

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Consideration cont….

You can mold it into whatever your desires are. You can sell your business. Explain how many

successful business entrepreneurs have sold their start-up companies.

Examples: YouTube founders sold their company for 1.8 billion. MySpace sold for $580 million to Rupert Murdoch’s

News Corporation.

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Upsides of being an Entrepreneur: Lifestyle design The personal freedoms associated with being an

entrepreneur are unrivaled by many other jobs.

Choice Choosing who you work with

Financial Rewards As a business owner, you have the ability to control

how much you earn.

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Upsides of being an Entrepreneur: Cont… Tax Benefits There are several tax benefits business owners

enjoy, which helps them to keep more of the money they earn. It has been said that being self-employed is “the last great tax shelter.”

Growth of your skill set Being a business owner means that you are

responsible for everything that happens within your company.

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Downsides of being an Entrepreneur: Financial Insecurity You need to take the rough with the smooth, and

owning your own business is no different.

Health Insurance Your employer’s health plan and any other benefits

you get with a regular 9–5 job are now your responsibility, and can reduce your bottom line. Fortunately, there are many companies that will give you individual insurance.

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Downsides of being an Entrepreneur: Decisions Though being the decision maker is a key

benefit of entrepreneurship, it can also be difficult. All the decisions of the business fall to you. Setting up an office, hiring staff, marketing your business–everything depends on you.

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Ask yourself !!!

Why should I consider starting my own business?

2. How do my passions relate to starting my own business?

3. What are three benefits of starting my own business?

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