Six Reasons Why You Should Start Your Own Business Today
Starting a small business is a huge step and commitment for anyone to take, as it may require leaving the comfort and security of a regular job for a more uncertain financial future. Small business success may also require a great deal of planning, enough initial capital to sustain the business during the start-up period and possibly a bit of luck. There are also personal indicators, like your financial situation, your passion for business and existing network that can also indicate whether or not you’re primed and ready to start this new journey. Below are a few good reasons why you should consider starting your own business today.
1.) You Don’t Fear Failure
We’ve often been told that ‘failure is not an option’ and it is not. It’s a prerequisite. The truth is, in life and in business, you will probably fail many times before you really achieve a big win. Thus, it is important to learn how to fail well. Use your failures as stepping stones to your success. Success is never assured. No successful entrepreneurs knew, without a doubt, that they would succeed and they took the risk anyway. These successful entrepreneurs believed in themselves and you should too, especially if you’re willing to work hard and persevere.
2.) You’re Brave Enough To Try
The thought of venturing out on your own, and starting your own business, can be very scary. For this reason, many persons remain in their ‘9-5’ jobs because it makes them feel safe and secure. However, what if you’re bored in your job? What if you’re not excited about going to work anymore? What if you’re looking forward to pursuing something that you’re passionate about and having freedom with your own time? Thus, you have a choice: you can let your fears hold you back or you can use those same fears as fuel to do whatever it takes to succeed. Remember, complacency is the enemy of achievement. Eliminate the ‘what if’s’ in your life by taking the leap, especially if you’re young with limited responsibilities. You have nothing to lose and a lot to gain.
3.) You’re Passionate About Your Product or Service
Passion plays a significant role in whether or not you should start a business. Most of us are passionate about something and if we are talented enough to be good at what we’re passionate about, why not turn that into career? However, the reward is not necessarily the money. The reward is in being your own boss and in the art of creating something that you truly own and love. You will have to learn to sacrifice external things that make you happy (like shopping or eating out) for things that make you happy internally (like business success and personal pride). If you absolutely love what you do, and you can stand confidently behind your product or service, then starting your own business might be the right fit for you.
4.) You Want To Grow As A Person
Initially, when you start your own business, you will be responsible for managing every aspect of your business including provision of products and services, accounting and finance, marketing and operations management. You will have to keep up-to-date with the latest technology, tools, consumer trends and industry news. Embarking on this new venture will accelerate your learning curve like never before. You will be stretched far outside of your comfort zone, however you may be surprised by how many comfort zones you can inhabit. You will learn to make decisions independently and become more decisive as you grow. You will learn to trust your gut instinct because no one else will know your business like you do.
5.) There Is A Proven Need For Your Product or Service
Passion, great ideas and a strong network are all requirements for starting a successful small business. However, if there is no existing or potential need for your product or service you’ll find that growth can, and often does, become stagnant. It is important to have a product or service that provides a specific solution to a widely held problem. Before you go into business, it helps to do basic market research to determine if your product or service meets a need. To do this, you’ll need a firm understanding of your target audience, competition, and any related industry or consumer trends. Many entrepreneurs use tools like Google for basic market research.
6.) It’s Not Too Hard
Starting and operating a small business is easier, and more affordable, than it was in the past. Thanks to continuing advances in technology, today’s entrepreneurs will find that the tools and processes required for operations are often well within their budget (sometimes even free!) and easy to use. Technology, such as apps and social media, has simplified a lot of the work that once would require entire teams and departments, or at least a solid set of specialty skills. From website design tools, like Wix to accounting software like QuickBooks, there are apps that make it possible for the everyday professional to jump in without making a significant investment in necessary resources.
Your mindset is also very important when it comes to starting your own business. If your mindset is that it will be hard, and nearly impossible to achieve, then it will be. Long journeys are hard. Individual steps are easy. You can’t accomplish any difficult goal overnight, but you can accomplish one step, however small, toward that goal. If you think about the end of a journey and all that will be required along the way, you will never start. Instead, do just one thing that will help get you there then build on it. Step by step, day by day.
Written By Sherise Brooks
