Small Business Owners List Independence as One of the Best Job Perks
As the Fourth of July weekend draws near, independence is a theme which demands recognition, in particular among small business owners. An independent group by nature, business owners responding to a Manta survey listed independence as the number one draw of being a small business owner an impressive 52% of the time, highlighting the power of self direction for bringing people into the fold of independent entrepreneurship.
Self direction is also a powerful small business equalizer. Business owners may realize the personal benefits of small business ownership, but the independent nature of a small business also brings a significant edge when reacting to changing market conditions and innovative technology. Since a larger corporate competitor to a small business will have multiple levels of managerial authority as well as a human resources department that has sway over certain aspects of how change can occur, the turnaround time from the formation of an idea to its approval and realization can be much larger than in a small business, where there may only be several layers of managerial oversight in the whole organization and employees are more empowered to make creative choices. Making the most of the independence that comes with a small business structure should be approached through an emphasis on organizational adaptability.
Independence means the potential for disruption. Small business owners are not bound by a set of rules or corporate policies that would otherwise constrain their ability to innovate. This lack of roadblocks can translate into truly disruptive innovations, since as soon as an idea is thought of, it can be tested and then implemented without any red tape. One of the side effects of corporate bloat is the potential for even R&D to get caught up in a semi-formalized structure where the intention to act on new innovations becomes diluted. Through creating a culture of accountability as well as keeping clear channels open for communication, small businesses can turn what is the Achilles heel of many organizations into their secret weapon.
Independence can bring greater satisfaction. Aside from the strategic benefits of independent business ownership, small business owners can also gain a heightened sense of satisfaction from building something that is entirely their own. There is no one stereotype that fits all entrepreneurs, but it is safe to say that each independent business owner feels and appreciates the feeling of self-sufficiency they gain from managing their own employment. When you factor in the ability to give back to a community through the addition of jobs, and the large and important effect of small businesses on the economy at large, its easy to see the allure and positive impacts of independent business ownership.
Photo Credit to Todd on Flickr