Being your own boss is—more often than not—a difficult task. Oftentimes you have to invest a great deal of time, energy and money, especially in the beginning. Plans need to be drawn. Sometimes a business loan is necessary.
Othertimes, it is much easier to get started.
For many people, being self-employed is their ultimate professional goal because not only are they in charge of their own destiny, but they are part of a company they truly believe in. So even though there are a number of initial hurdles to get over, there are also several advantages of being self-employed that make all the trials and tribulations worth it.
1. Create your own schedule
When you are work for yourself, you have the power to determine not only what you are going to do each day, but when you are actually going to work. If you tend to be more productive in the morning, then you can devote the first half of your day to your business. More of a night owl? Then work in the evening. You don’t have to get permission to go on vacation and you have an unlimited amount of time for maternity/paternity leave.
Still, it’s best to keep in mind that this does depend on what stage your company is in and the kind of business you own. Taking a vacation every other week right after opening a business is probably not the best way to get the ball rolling. Further, different industries usually make different demands from business owners. For instance, if you are the owner of an antique store, you can’t fail to show up during store hours—unless of course, you have employees who are supposed to be there instead—or for a business meeting because you don’t feel like it. The chances of being successful are slim. Don’t expect to have a profitable business if you aren’t planning on putting much time into it. However, if you are an independent travel agent for a travel host agency like InteleTravel, you can choose when you want to work.
2. No overhead costs
By being your own boss and having a home-based business, you will not have to worry about finding an office space either. Though this may not seem like a huge benefit, having a home office space means you will not have to pay rent or mortgage fees every month, which results in more savings for you. Plus, becoming an independent travel agent with InteleTravel can cut even more costs because you will not have to pay for inventory, insurance, staff and other typical expenses that come along with owning a business.
Additionally, when you join InteleTravel, a number of advertising and marketing materials are available to help grow your business. You don't have to create your own business cards or newsletters. You also have the option of setting up your own personalized website in which clients can book their own trips, but you'll still earn a full commission. Free of charge. No need to rent a store front to sell travel and display brochures like the old brick and mortar days. Everything is provided to you, so all you have to do is sell and book travel. Travel suppliers will even ship whatever you want right to your home or directly to a client.
3. Tax advantages
Every home-based business is different, but under the right circumstances, you are privy to certain tax deductions, which is another one of the advantages of being self-employed. For instance, if you have a designated room in the house for your office, you can write that off. However, the room must only be used as a home office and nothing else. You can also write off business trip expenses, such as transportation, meals and lodging. So, the live events that you can go to as an InteleTravel agent, such as Ship Inspections and Seminars-at-Sea, may be tax deductable. Furthermore, any education courses you are enrolled in for the sole purpose of helping grow your business can also be deducted. If you set up an Individual Retirement Plan, you are able to write that off as well.
Again, it's important to note that every business is different, so don't assume that you can write off certain expenses. It's always a good idea to consult with an accountant just to make sure.
4. Have more security
Obviously you have to have a successful company for this to be true, but one of the advantages of being self-employed is, in fact, having a sense of job security. Though no one knows what tomorrow brings, when you own your own business, there is no way that you could get laid off or fired. Again, this is something that comes with time because chances are you aren’t going to feel secure when you first get started because you have to get the business up and running; there are very few jobs in which you are going to be profitable right from the start.
5. Call the shots
This benefit goes hand-in-hand with creating your own schedule. You call the shots. You have control over everything that goes on at your company, such as:
- Products or services available
- Location – at home or office building
- Size – number of employees and clients
- Who you work with
- Salary – yours and your employees
This is why having a plan in place is important because you need to know what your goals are and compose a clear outline of how you’re going to achieve each goal.
And although being the boss means taking on all that responsibility, it is that much more rewarding when your business begins to thrive. Plus, you’ll be in an industry you’re interested in, which is definitely one of the tops advantages of being self-employed. So even though you aren’t necessarily going to enjoy every single task you have to carry out, you will still be more motivated than if you were working in a profession you hated.
6. Forget about commuting
Since you hold the power to choose where your business will be located, being able to work from home as a travel agent full-time is another one of the benefits of being your own boss. This means no more rush hour traffic or commuting. However, keep in mind that depending on what business you own, you may have to leave your house eventually to meet with a client or supplier.
Working from home full-time offers even more advantages besides saying good-bye to commuting, such as being able to spend more time at home with your family and less money on gas and business attire.