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If 2021 has taught us one thing, it’s that there is no such thing as security. As the global pandemic ripped every sense of normalcy from us, we came to realize that there truly is no safety blanket to grasp on.
With the massive changes made to our work life, job losses, layoffs, and unemployment, we also found that sometimes the most secure way to ensure our financial safety is to create it ourselves.
Why become a small business owner?
We’re now living in a time where we need small businesses, online specifically, more than ever.
Why Own a Small Business: Reasons to Run Your Own Business
The first and perhaps most important reason is control. You determine your hours, you make all of the decisions regarding your business, and you will never get laid off.
The second reason you should become a small business owner in 2022 is freedom. You will no longer attend a nine to five or answer to another boss again. You only have to answer yourself.
Thirdly, you can make a great living if you make the right moves in developing and nourishing your business. The more you put into it, the more you can expect to get out of it.
Unlike a regular corporate job, there is no cap on your financial earnings. Just remember that you will have to invest back into your business if you expect it to grow.
Why become a small business owner:
- Owning your own small business will give you control over your professional life.
- You will have freedom in your business and only have to answer to yourself.
- There is no financial cap.
How to Become a Business Owner With No Money in 2022
You may think that there is no way you could even start your small business in 2022 because you don’t have the money for it. Believe it or not, we can show you how to become a business owner with no money.
Before you throw the whole idea out with that one limiting belief, know that there are options for small business loans. Some of them might even be more attainable than you think.
You also may think that you lack experience in your field or business in general. Here are resources for how to become a business owner without a degree and without any money.
One great potential option to help you start your small business is obtaining an SBA loan. SBA is a type of loan designed to help people open their small businesses. There are several different types of SBA loans. You can learn more about what type may work best for you and your business goals in our SBA loans article.
There are also several resources for business loans specifically for women. Unfortunately, when it comes to loan approvals, women often get the short end of the stick. Luckily, there are grants and other resources to get funds to start your own business.
You can check into non-for-profits and several other organizations to see what kinds of funding you are eligible for to get some help starting your small business.
Potential Challenges of Owning a Small Business
Despite all the positives of becoming a small business owner, there are some disadvantages to owning a small business. With all of the negatives, you might start wondering why become a small business owner? You’re going to have to work harder and smarter than you ever have in your entire life.
Here are some of the most challenging parts of being a small business owner:
- The success or failure of your small business is entirely up to you.
- There is a lot of weight on the business owner. You will be spending a lot of long nights, stressful situations and encounter problems often. However, the positive outcomes can make all of this so worth it.
- You may have very little time off. Your business isn’t going to be like a nine-to-five corporate job with vacation days and paid sick leave. If you aren’t out there doing it, nobody else is either.
What Are the Benefits of Being a Small Business Owner?
Why become a small business owner? Being a small business owner isn’t easy. However, the hard work and determination make the results even more satisfying. You will be your boss, have the autonomy to make every decision about your business.
You can share your passion and contribute something unique and good to the world. Go into a business that is going to be a passion for you. While there are so many financial benefits of owning a business, there’s no way you’re going to succeed in something you can’t fully put your all into.
What are some of the differences between a small business owner vs entrepreneur?
Safety would be the number one difference. Entrepreneurs work in several different businesses rather than sticking to and establishing just one. Small business owners are usually in just one business.
What It Takes to Be a Successful Small Business Owner
Ultimately it takes a lot of hard, smart work, a lot of determination, and a lot of your time and effort. What does it take to be a small business owner?
In addition to all those things, here are some small business owner responsibilities and other suggestions to make your business successful.
- Make sure you have a functional, attractive website. You want to draw people in and be engaging. The best way is with a solid website.
- Balance your workload. Know that as much as you want to, you cannot handle all of the responsibility yourself. It’s okay, and it’s necessary to hire people for certain projects or tasks within your business.
- Create a strict schedule and stick to it! Don’t spend time getting off task. Even though your time is your own when you are a small business owner, you still need to keep a schedule as if you were your own employee to keep track of.
Successful Small Business Owner Examples 2022
Small crafts, goods, or clothing/ jewelry
Selling on your own site or selling on Etsy is a great way to start your own business. Etsy also has the most female small business owners of any other platform.
Life coaching
Especially during this trying year, everyone has been struggling. 2022 is the year to get back on track. If you have a passion for inspiring others, why not start a motivational business?
Freelance services
Your business could be whatever services you have a niche. Be it tech services, writing, editing, etc. You can start your own business and build your client base.
These are just a few of the many types of successful small businesses you can start. Look inwards and think about something that you feel extreme passion for. Then ask yourself, is it marketable?
Final Thoughts
Starting a business isn’t the best move for everyone. It’s extremely hard work, but it comes with some great opportunities.
If it’s your dream or goal to start your own business, we suggest looking into some additional resources and getting as much information as you can before launching your business.
If it feels right, you should go for it.
About the Author, Madison Taylor
Madison Taylor is the Brand Ambassador at ROK Financial. She is responsible for raising brand awareness and business relationships with business owners across the country. Madison loves that she plays a small role in getting Business Back To Business Through Simple Business Financing and looks forward to hearing what you think about the blogs she creates! Madison has been working in the financial space for six years, and loves it! When she is not at work, you will find her at home learning a new recipe to test out on her family or going on new adventures with her friends.
