Tuesday, April 14, 2015

Monetary and Non-Monetary Benefits of Entrepreneurship

A mound of cash representing the monetary benefits of entrepreneurship.
Being an entrepreneur has definite monetary benefits, but it has even more non-monetary benefits.

Monetary Benefits

According to the book, "The Millionaire Next Door", the majority of millionaires in the US are small business owners. This is not solely due to the funds made available through a small business. The ups and downs in a business requires you to manage your business income and cash - and you own income and cash flow - more closely. Therefore, the definite monetary benefits to owning a business stem from both the funds the company (or companies) generate and what you as the business owner do with those funds. For example, you may invest those funds in real estate, in stock investments, in bonds, to ensure you and your company have funds available during any down / slow periods. This is called responsible fiscal management!

Non-monetary Benefits

However, I think some of the greatest benefits are the non-monetary benefits. Although certain entrepreneurs may regularly pull all nighters and alienate their families on their quest for success, many do not. In addition, although more companies have begun providing flexible options, entrepreneurship is still the best way to design the life you want and live it.

Peace and love button shows benefits to entrepreneurs
Internal peace &love of what you do are two benefits of entrepreneurship.

More Non-monetary Benefits of Entrepreneurship

What are some more of those non-monetary benefits? Driving your own destiny without needing to worry about whether your boss or project manager looks good or whether you have sufficient visibility in other areas of the company to weather an attack by your boss. In other words, you don't have to deal with bureaucracy, internal politics, and brown nosing. If you bore easily, owning your own business stops that. You must attend to so many issues that it's difficult to get bored. If you do get bored, that simply means its time to sell that business and move on to another one, expand the business or diversify. In addition, as an entrepreneur, your time is your time - you can manage it and do with it as you want.

Appreciate and Attain

If you are on the business ownership journey and haven't yet reached your financial goals, appreciate and embrace all the other benefits you have. It'll make the financial goals seem more attainable and soon they will be.

To obtain significantly more details on the non-monetary benefits of entrepreneurship, read the article in its entirety: Why Being an Entrepreneur Can Rock Your World at http://www.novarsgroup.com/2015/04/14/why-being-an-entrepreneur-can-rock-your-world/.


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