Why start a business? I discuss 4 reasons why you should start a business. There are more but these cover the most common questions people have around starting a business.
Why start a business: Job security
I bet you did not think you will see job security as a reason for starting a business? Guess again. Have you ever been downsized, retrenched or any other politically correct word for getting fired? It happens and more often than you think. Starting a business will not necessarily give you job security in the sense of traditional employment, i.e. a regular salary. It will give you job security in that you are in charge of finding business and creating the environment that will bring in the needed overheads.
Let me use agriculture to explain: Before farming man was bound to seasons and could only have certain foods, certain times of the year. Then someone started farming and basically removed themselves from the whims of nature. You will just remove yourself to a great extent from the whims of the economy and corporate strategy.
You might argue a job in a business is safe but think again. A business was started by someone just like you. They were thinking of starting and they did. When you work for them you are in the same boat as they are. In fact, you will be asked to leave before they leave themselves.
So, starting or not starting a business, the risk remains the same. Yet, when starting you learn to create your own job security.
Why start a business: A bigger calling
I like this reason a lot. If you want to be a change in the world then be it through your business. A business will give you the money, the resources, people and networks for you to be the change you want to be in this world. This in my eyes is a very good reason to start a business, but. A very big but.
Don’t build a non-profit. Build a for profit. It is driven to grow, be more and as the business grows so does your ability to make changes in this world. Poor people, running small, just getting by businesses, do not build hospitals and supply drinking water to a whole village in Africa. Also it will push you to be more and be more of an impact. Because the business needs to grow so will you impact within this world have to grow. Bonus points for both sides!
Why start a business: Money
Have you noticed that the cost of living tends to grow faster than your salary? Wages are not growing in line with the cost of living and the middle class is getting less and less. I think you will find this article interesting “For most workers, real wages have barely budged for decades.” You might get a raise but what is happening to your purchasing power?
When you work for yourself and you see you are short of money, you work harder and make more money. In South Africa food prices rose by more than 19% in a 1 year. That is when I am glad my wife and I are both entrepreneurs.
Starting a business can give you control over this and in good months you can really fill the bank accounts to carry you over. When you are employed most of the time you are tied to a salary which, if you are lucky, is increased every year.
Why start a business: Personal development
My favorite reason to start a business (and actually what really happens when you do start a business). The goal of having a successful business is not the real end goal, it is what you become along the way of building that business. You become a greater leader, communicator, planner, manager, financial planner etc. This is the one-on-one work I do with my Life Design for Business Owners coaching clients. I help them overcome the fears, obstacles and personal blocks while they become more as business owners.
If you have a wish to become more in life, grow in all areas of life, then do this. Design your life, then design your business so that you business serves you and you life as much as it does the customer. Your business becomes a building block within your life. Also, the chances of you getting lost or stuck within your own business will be less if you approach starting a business this way.
Because of my business I am an International speaker, an author, a mentor, a coach, a specialist innovator and much more. Without my business I would not have been that. However, plan what you want to become and see how your business can help you become that.
In conclusion on why start a business
Starting a business is fulfilling adventure with challenges, ups and downs, tears, sometimes loneliness, joy, frustration, laughter and most of all, learning. I believe every can do this and if you are considering it, start, start small, start something, but just start.
I wll do such a post every two weeks. Any suggestions or topics you want me to cover? Then contact me.