o you consistently work six or seven days a week? Is the idea of a 40-hour workweek foreign to you? If so, you are not alone. It seems that 52 is the new 40.

Small business owners work an average of 52 hours a week, according to the latest Wells Fargo/Gallup Small Business Index. The study found that 57% of small business owners work at least six days a week, and 27% work all seven days.

When was your last vacation? For many merchant level salespeople (MLSs), the idea of a vacation doesn't conjure up images of umbrella drinks and white sand beaches but rather a week or two of lost prospecting time and decreased pay. For those who run their own business, including MLSs, preparing for a vacation is a stressful time of figuring out who will handle everything they normally do. In the end, many opt for no vacation at all.

The Index found that 14% of respondents do not take vacations. Furthermore when they do attempt to get some R&R, 39% of the time it turns into a "working vacation" in which they field phone calls and answer e-mail.

Why Do It?

Why would anyone in their right mind want to start their own business in the financial services industry or become an MLS? The hours are long, the work is hard and the vacation time is minimal.

Add to that the stress and rigors of being a sales professional, and it's not the most enticing recruitment ad. But for many the choice is easy because the benefits far outweigh the challenges. Some of these benefits include:

Control

The most obvious benefit is being your own boss; you have control. You set your hours, determine priorities and choose with whom to work. For example, you decide if troublesome clients are worth the extra effort or if it would be better to decline the business and refer them to someone else.

Flexibility

You also have the power to change anything that isn't effective. Even better, you can implement changes immediately. For example, you can change processes today, right now, rather than waiting for forms to be approved in triplicate.

Freedom

Being independent also allows freedom. The act of branching out on your own is an excellent example of the freedom you enjoy. It was your choice. You chose what industry to enter and which types of clients to serve. You determined what services and products to offer and how to present them to the prospect. You chose everything, the company's image, mission, goals, everything.

Ownership

Working on your own also allows you to develop something from the ground up. Rather than functioning as a component of a larger organization, without the ability to see or touch a finished product, you are on the front lines.

You visit clients, find prospects and create your own wealth. Looking at your portfolio of clients and residual checks provides you with a sense of ownership because you built that yourself from scratch.

The financial services industry is not for everyone. Being a business owner or an MLS requires special skills and unique personality traits, not the least of which is the ability and desire to work hard.

Fortunately, our industry rewards effort and perseverance. Where else do you get paid to have control, flexibility, freedom and a sense of ownership? For many the decision to be a member of the financial services industry is an easy one.