In the previous post I have tried to highlight some (but unfortunately not all) of the difficulties associated with running your own business. It's time to move to the bright side of running your own business.

First, if your business becomes successful and financially healthy, it may generate considerably more income to you than what you would get by working for someone else.

Second, even if you had a high salary job, you would still be limited in your annual income. This is not true when you run your own business. If your business grows, so does your fortune. Theoretically, many businesses don't have much growth limits. For example, if you have $500,000 per year, your income will be half a million no matter what you do. However, if your business makes half a million in net profits and you expand it and start making quarter a million more, then you earn $750,000 per year.

Third, you are your own boss. Unfortunately, many people, especially young and inexperienced business owners see this advantage as the most attractive. Unfortunately this is not true in reality. You should never abuse this privilege.

Fourth, if you establish your business with long term objectives (i.e. not a business with quick exit strategy) then every minute spent by you working you work on yourself. Thus you make yourself richer, not your employer.

Fifth, you have more control of your life. As long as your business is doing fine, you don't risk losing your job whereas a slight reorganization in an employer might have left you jobless.

Sixth and the most important thing about running your own business is that if you do right things and do things right, your own business will give you a perfect chance for self-realization because only in your own business will you have full creative freedom.

Finally, I would like to mention that neither this list nor the list from the previous post, is or can be complete. Rather, I've tried to highlight the most important (at least from my experience) negative and positive aspects of running your own business.