10 Simple Reasons Why You Start Your Own Business
Posted on March 02, 2015 by Dakim Duncan, One of Thousands of Business Coaches on Noomii.
Starting a business can be scary. Which is why most don't do it. But a really good reason 'why' you should start will motivate you to take action.
Many people dream of owning their own business but so few actually take the leap of faith to get it started. If you were to ask them why they haven’t yet started most will give the expected answers, “too busy”, “no money”, or “I don’t know how to get started.”
Sound familiar?
What many these people don’t realize is that the excuses they give for not starting their business are the exact reasons they should start a business. If you have no money to start a business then you are probably in debt or close to it and could use some extra cash. If you are too busy then you are most likely not enjoying your life the way you should because you are spending so much time working for some one else. In other words, the things that people often see as blocks to starting a business should really be seen as motivation to finally get started.
In case you need more reasons to get started, here are 10 really great ones:
1. Have Better Options
Happiness in life is about having options. Running a successful business gives you more options. Where to spend your time, how to spend your money, and whom you surround yourself with are all options that can come from being a business owner. Yes you do have these same options as an employee but they take on a hold different dimension as a business owner.
2. Recession Proof Your Life
Economic tough times come and go. Unfortunately, downsizing and less employment opportunities accompany the tough times. If you are dependent on one source of income from a corporation that only cares about the bottom line, you are at their mercy. Your life can change dramatically with a stroke of a pen. I think most people would prefer to maintain control over their destiny during economic downturns?
3. Your Boss is an Idiot
There’s always at least one in every department (and you always seem to report to them). Or perhaps your boss likes to play office politics and you’re not on his favorites list. Having a boss means that you’re at the whim and will of someone else and that means you have less control, less options, and less money than you should. Period.
4. Daycare vs. Mom(or Dad)care
If you have small children like I do you know that one of the greatest joys is watching them grow. Putting them in daycare for 10 hours a day prevents you from experiencing the joys of watching them grow first hand. And do I really have to mention the cost of childcare these days?
5. Life is Too Short
Avoid all of the ‘I should have’, ‘I could have’, ‘I would have’ regrets later in life. Do you want to look back on your life and say, “I was a great mid level manager for XYZ Widget Company”? Start something that you can claim as yours and you will happier about the life you lived.
6. Inspire Others
Sometimes the best thing you can do for the people in your life is to show them what is possible. That is especially true for the children in your life. Set an example that it is possible to follow their passions and make their dreams a reality. Show them that they are not doomed to follow the masses into corporate servitude.
7. Multiple Streams of Income
Perhaps you’re not ready to commit to running a business full time, that’s ok. Start a part time business while you’re still working and have multiple streams of income. It’s the best way to build wealth. Look at your favorite celebrity. Movie stars often have production companies, real estate investments, or maybe a restaurant and a clothing line. Endorsements, appearances, and other ventures represent additional sources of income outside of movie roles. If one venture fails or is slow for some reason the others compensate. Your part time business can be another source of income to enhance your 9-5 salary.
8. Get Paid for What You’re Worth (Finally)
You nearly kill yourself putting in extra hours to finish a project that will bring in more revenue to your company, and what do you get? A pat on the back and maybe a 3% increase in your salary next year? And the increase probably works out to be $50 more on your paycheck–before taxes. Isn’t better to get fully compensated for efforts? With your own business you keep what you make (minus what the government gets to take).
9. Give Back
I know many people that would love to be more active in social or religious charities. But after spending close to 10 hours a day commuting to and from a job that they hate, they simply don’t have the time or energy to give. With more money and more time you are in a better position to do more for whatever causes that you care about.
10. Do More for Your Family
Your family can benefit in many ways from you owning your business. Whether it’s a bigger home, a bigger vacation, or just being able to spend more time with them. While it is true that the first few years starting a new business will likely consume much of your time, you and your family will enjoy fruits of your labor and all your hard work pays off.
These are just some of the reasons for starting your own business. Ultimately, that best reason is the one that finally gets you to take action. That reason is going to differ from person to person. For me, I wanted to provide a better life for my son while fulfilling my mission of helping people to live extraordinary lives. Whatever your reason is, embrace it and move forward it.
