Top 10 Reasons to Start Your Business
Have you always wondered what it would be like to start a business? Are you still to afraid to take the leap? There could be hundreds of reasons to start your business however we believe these are the top 10 in our opinion.
10. Its is the best way to help make the world better. Giving someone a job to put food on the table is a great way not only help a person and/or their family, but to also stimulate the economy!
9. Your boss sucks and/or you hate cubicle life. You think you can do a better job than your boss? Why don’t you just go out there and prove him wrong! Do you hate your surroundings like working in a cubicle? Then start a business where you can work from home, a café, a boat, on a beach, or your own commercial office space. Whatever suites your needs.
8. Financial independence. Yes a steady paycheck and benefits are nice. But do you ever wonder how nice it would be to able to afford to go on vacation anywhere in the world whenever you want? Do you want a bigger house? Do you want to pay off your debt in a fraction of the time? Yes all businesses have their risk of failing, but they also have the risk of taking off! Educate yourself, work hard on your business and savings, be able to pivot your business strategy when needed, be resourceful, and focus on finding customers and providing them value efficiently and effectively and set up systems to give you time. I would argue the last bit of advice is the sparknotes of sparknotes of an MBA.
7. You are not happy. If you are not happy. G…T…F...O!!!! Should I say more? What is better than being sick of being poor, living paycheck to paycheck, monotonous life? Drastic change where you are in control of your life, finances, career, growth, and most importantly creating value. It's almost as good as getting a puppy or adopting a child. You literally have a business baby to grow to and nurture.
6. Trading time for money. Why don’t you switch it around and make your money start working for you and buy you time to enjoy the things you want to do? The poor trade their time for a paycheck. The rich plant their savings grow it into a fruitful money tree called a business/investment.
5. You are building an asset. This business has the opportunity to not only provide a living wage for you, but it can provide for your family, retirement, and toys/vacations. An asset keeps creating value in the future. Chances are your car and your house are not really assets because they don’t make you money unless you drive around for Uber and AirBNB your house.
4.You’ll be looking for your cheese. You are probably wondering what the he** is he talking about?! There is a famous business book read by anyone who has taken a business management or MBA class called “Who moved my cheese” by Spencer Johnson. Long story short, there are 2 pairs of mice in a maze that are always hunting for cheese. One day, they find this huge stockpile of cheese to last them almost a lifetime. However, two of the mice get wise enough to take a bit of cheese and continue hunting around in the maze for more while the other two sit back laughing at them. Over time, the cheese starts getting depleted but the two lazy mice had gotten so accustomed to the stockpile of cheese became so nervous and were in so much denial about running out of cheese, that they forgot their hunting skills and were afraid to go out and find more. The moral of the story is don’t get used to one thing i.e. put all your eggs in a basket, and always keep your head up for new opportunities.
3. You won’t be able to afford retirement. Do you think you are going to survive on a 401(k). Did you even study what you’re supposed to do with a 401(k)? Did you study Finance in college? Unlikely. Fun fact: a 401(k) is not the same retirement/pension. Companies just shifted the risk and responsibility of ensuring the employee had an income to the employee.
2. You are poor, hungry (figuratively and literally), and you are ridden with debt. Going back to 8, 7, and 3 a starting a business can bring you enough success so you don’t have to worry about those things. Chances are if you’re poor, hungry, and in debt you have more drive than anyone out there to achieve success.
1. YOUR TIME. Your time is the most precious thing you have. A billionaire can’t buy the elixir of eternal life and health. And you have the same amount of time as a billionaire as you do with a homeless person. What you chose to do with it is what defines you and whether you achieve success or not.