Research organizations take the temperature of the population through surveys. They aim to find the upcoming trends and forecast the future. When these organizations survey entrepreneurs, they continually find that these individuals are satisfied with their career choice. In 2020, a study found that 76% of respondents reported being very happy and somewhat happy running a small business. 

Running your own business has its ups and downs. Brokers know this truth as well as other entrepreneurs. Brokers work as independent professionals or part of a brokerage firm. In both cases, the broker determines their success. A broker earns a commission, as opposed to a steady payslip.

Brokers and entrepreneurs receive the most joy from their independence and control. When you work for someone else, you carry out their mission and vision. As an entrepreneur, you determine the company’s mission, vision, and culture.

If your entrepreneurial endeavor succeeds, you reap the financial reward. Keep in mind that savvy entrepreneurs re-invest their profits back into their companies. For tax purposes, entrepreneurs must pay themselves a salary. However, there’s no set minimum. Re-investing into the business means a few years of sacrificing material wealth. The goal is to earn many times over in the fifth year over what was earned in the first four.

Entrepreneurship offers flexibility. You set your own hours. If you need to attend your child’s soccer game, you can. Entrepreneurs end up investing more time into their companies. They work over 40 hours a week because they are the brains of the business. 

Running Your Own Business Conclusion

There are several joys and satisfaction in running your own business. The favorite joy reported by entrepreneurs is control. Independence remains important, too. Mortgage Street works with entrepreneurial brokers and those under the guise of a brokerage firm. To get started, contact us today.