This article is authored by Peter Bradd, Managing Director at RainMaking, part of the Career Money Life Supplier Community.
There are a million reasons why people opt to start a business. But you only need one to give you the spark to take action. At ASPIRE we are in the privileged position to get to hear everyone’s stories of what lead them to change their lives. We’ve collated some of the top answers to the question “why did you decide to start your own business?”
Here they are:
- You have control over your life.
After years in the corporate life, you can finally start having more control over your life, and you get to prioritize your choices. You can align your work schedule to make the school runs and attend the football matches of your kids. You no longer need to ask for permissions for emergencies. However that doesn’t mean that you will need to work more hours now that you are building your business from scratch, but you will probably be happier now you are working on something you love and building your own thing. You get to call the shots, make decisions and set the rules. The most important part is you get to set your deadlines for yourself, not your boss.
- Use your experience for a better cause
Starting your own business means you no longer need to wait around for another call for an interview, you have a job that utilizes your experience and skills how you see fit. You can solve that problem that always bugged you. Or you can build something to help your local community, maybe fill in an area that lacks services and make people’s lives better. You can also work on a market gap you see in your industry and take the lead in doing a business out of it. The latter may even lead to commercial deals with your former employer and industry leaders and eventually contribute to the innovation of your own industry. Your business may even grow to change the world one day.
- Leave an impact/legacy
In addition to helping your local community and providing the community with any missing services or products, you can always support any cause, nonprofits or charities with your profits. You can even set up your own charity to support a cause you believe in to help more people which can be very fulfilling.
- Flexibility to work from anywhere
On top of the flexibility to manage your time, you will have the flexibility to work from anywhere, your office, a cafe or even from the beach. As long as you don’t have to be with your employees or clients, the sky’s the limit.
- Be your own boss
You start a business; you become your own boss, and the sky’s the limit. You get to work without micromanaging, and someone breathing on your neck. Bonus thing, you get to be the boss you always wanted for your team.
- Achieve Financial Security
Now that you are running your own business, you are no longer reliant on someone else for your paychecks; you finally achieve financial independence. It is not a guarantee that you will become a millionaire in one year or ever, but working on your own business will give you financial security. The more effort, time and passion you put into the business, the bigger that paycheck will be. Your business in itself becomes an asset that you can sell or pass down to your family.
- Constantly learning
On the great perks in running your own business, it is an ongoing learning experience. You get to wear many hats for the first time before you get to hire a team, so you will have a lot to learn about almost everything, whether hiring a team, finances, sales, legalities or whatever you have never done. Basically, you will learn about each bit of how a successful business runs, and that is an experience you can never get working a 9-5 job. You get to develop new skills every day as your business grows.
- Turn your passion into a business
Building your business is a fantastic way to start working on what you love, and to turn your hobby into a business. You can be creative as you would like to be, maybe you decide to start a cooking school, become a ballet instructor and have your own studio or turn your love of knitting into a successful clothes shop. You no longer have to work on something that doesn’t get you out of bed happy and singing every day.
- You can finally have the work environment of your dreams
Have you always resented your company’s work environment? That’s ok many people do, now it is your chance to create the work culture you have always dreamed of, your business, your rules and you also get to hire people who share the same values and dreams as you.
- Contribute to the economic growth
Not only will you start a business, pay taxes and provide services. Your business will likely hire a team, creating new jobs, and so contributing to the economic growth of your community.
These are just a few reasons why you should start a business. We’re interested in hearing why you decided.
It is never too late to start over and start something new from scratch, your previous experience and skills are a great booster to help kickstart your new dream, so don’t hold back and unleash your inner entrepreneur. It is not going to be an easy ride, but it is sure worth every sleepless night and long hours you put into building your own source of pride and joy. So, what are you waiting for? Get up and take the leap to your brighter future now.
Thinking of starting a business? Career Money Life has partnered with experienced Business Coaches like Peter Bradd to assist employees who are undergoing Career Transition and would like to start their own business. Book a demo or contact us to learn more about our offerings.