I am not one of those who tell everyone to start up a business. I know that not everyone will be a genius in business and so while I encourage people to consider getting into one form of business or the other, I tell them why it is good and at the same time, I make them understand what it will entail, if they will see success. At the end, the choice is theirs to make.
In this post, I try to wet your business appetite by presenting to you ten good reasons why you need to consider starting up your own business. However, I assume that you will also be going further to read my posts titled: “Ten Questions You Must Not Go Into Business Without Answering” and “How to Know If You Can Make a Successful Entrepreneur” so that if you eventually decide to get into business, your decision will be a balance one.
There are many cool reasons why people should get into business. Most people get into business just to secure some extra income to take care of their many needs. Some even do so just to raise some money and handle a one-time problem. These are no doubt reasons why they do business like a part time thing. Such businesses hardly amount to anything big.
But there is more to gain in starting up your own business. I present to you the following reasons;
1. To Increase Your Income
This is obviously the main reason why most people get into one form of business or the other. If you set up a viable business, you are likely to move from a six-digit monthly income to even an eight-digit income in less than no time.
Business men and women are arguably the richest persons on the globe. They rule this world with the money they make. From Saudi Arabia to Mexico, Spain to USA, Nigeria to China; from the Bill Gates of Microsoft to the Larry Ellison of ORACLE to the Ingvar Kamprad of IKEA to the Aliko Dangote of Dangote Group and to the Slim Carlos of Telecom, etc, it is evident that business men and women rule this world.
I was going through the most recent list of the top 100 richest people in the world today and I found out that just 3 out of the world’s top 50 richest people are not business men. Meaning that if you are not considering getting into business, you stand a very little 6% chance of ever being amongst the world’s top 50 richest persons some day.
These days there are few jobs that can pay a person enough money to take care of the needs of a family. A sure way to get a comfortable life and earn serious income is to get into your own business. Hardly will you find a very rich person who is depending fully on a job.
If you are unsatisfied with the income you make every month, you need to seriously consider starting up a business. You will soon have more than enough money resting in your bank account.
2. To Have An Additional Job
It is very difficult to handle two jobs at the same time. But having a formal job and doing a business is not too difficult. In fact today, many people do both. They set up a business, employ one or two persons to work for them and then still carry on with their formal job. Such an opportunity only comes when you set up your own business where you make the decisions.
As you grow in life, you will soon see that your job is unable to fund the projects of your life. When this happens, starting up a business of your own is the best option you have.
3. To Be Your Own Boss
Not many people love to be bossed and controlled around. People love to do things out of their discretion. Sometimes when I see an old man in his 60s and 70s, answering “Sir” and being ordered around by a young man in his 20s – 40s who happens to be his boss, I can’t help but pity the situation. This happens only to people who are solely dependent on their jobs for survival.
When you set up your own business, you have no one to answer to but you. You can make decisions freely and choose what to do at every point in time, without anyone asking you questions. You are the boss and everyone respects you for that.
4. To Get Freedom
Man naturally loves some degree of freedom. Because you don’t have chains on your hands, doesn’t mean you are free. As long as you have to strive daily to be at work in order to secure an income, you are not free. Even if you are heading the organization you work for, you are not free as long as you can only earn an income if you go to work.
A free person is one who can decide where to be and what to do at any point in time, without being answerable to anyone else, not even to a salary. I am sure you will love such a life. Starting your own business will allow you have full control over your life and you could spend every day of your life traveling all over the world, getting recognition, reaching out to needy people, making your impact felt and enjoying all the good things money can offer, while others work for you.
5. To Gain Job Security
Before now, most people thought that in order to secure a wonderful future, you ought to study, get a good degree, pick up a lucrative job and earn a huge package. Now, with the high rate of job insecurity, getting a job has become the most insecure way to earn an income. This is worst in the private sector.
I was talking lately with a friend who works with a private mining company and she told me that the industry is a very lucrative one with well-paid jobs but the most insecure place to be. She said when you work in her company, at the end of each month you pray hard not to receive a letter saying that you have been laid off. It is that bad.
Owning your own business offers you a very high level of job security when well established. The decisions to quit or stay both lie in your hands and no one else’s. No day will you wake in the morning to receive a sack letter.
6. To Enjoy Life By Doing What You Love
There are very few jobs that offer one the opportunity to do what he loves. I have found out that one of the reasons why the rate of deaths from stress, fatigue, high blood pressure, heart failures, are now increasing daily is because many people either do stressful jobs or jobs they hate.
Starting up your own business offers you the rare opportunity to do what you love and create your own unique impression in the world. When you do what you love, you earn money for doing nothing. Writing is something I love to do. I am very relaxed when I write. If I build a business that is centered on writing and publishing, life is more likely to be fun for me.
7. To Meet A Need In The Market
Every good business identifies a need in the market and seeks to meet it. Needs abound everywhere around us. There will never be a time when all the needs we have would have been met. Starting up your own business begins from discovering a gap (or need) and seeking to fill it up. It is always so wonderful when someone comes up with something that addresses the problems of people and succeeds. The feeling is an out-of-this-world feeling.
The only way to meet a clear need in the market is to step out of the comfort zone of a job and go through the odds just to fill an existing gab. You can only do this by starting up your own business.
8. To Develop Your Own Creative Skills
Starting your own business is one big way of putting your creativity to work and thus developing it. When you know that your life depends on how much you make use of you knowledge, talents, skills, experience, etc, you cannot go to sleep. You are always thinking and trying to come up with something that will keep your business going forward. This will make you even more creative.
Most jobs are built around some form of routine and only help to kill the creativity in most people. This is why a true entrepreneur is hardly able to keep a job.
9. To Have Influence
Did you know that the business people of every nation have one of the greatest influence on who is who in the leadership of that nation? They appear not to be interested but many of them have a greater influence on the political climate of the nation than the ballot box. They sponsor candidates during elections, sponsor bills in parliament, influence presidential appointments, and so on. They have an indirect influence over your life and what becomes of you.
When you grow your business to a height that you no longer make money for yourself alone but your money starts affecting people’s lives, you have started having influence. Such money can easily be guaranteed by building a business of your own.
10. To Enjoy Recognition
One of the most accomplished business men in my country that I know of, did not go to school to beyond the primary level. He cannot even speak English properly. However, wherever he goes, people respect him. No one cares if he is educated or not. He is more recognized than many professors and accomplished career men in the country.
His businesses are all over the country and through them he has put food on many tables by offering numerous job opportunities for people. He travels abroad very frequently and whenever decisions are made that concern any sector where he has invested, he is consulted and his opinion is sought after. He has vocal power; He has a voice all because he went into business.
You will hardly be able to gain some great level of recognition if all you do is leave the house daily to an office and back. At most, it will be in your organization and if it goes beyond that, it will be short-lived.
I am sure with the above 10 strong reasons, you are beginning to consider starting your own business. If so, then don’t be too quick. Read other posts like; “Ten Questions You Must Not Go Into Business Without Answering” an “How to Know If You Can Make a Successful Entrepreneur” for more.
I wish you well as you go ahead to set up the business of your dream.
Let me see your wonderful contribution in the comment box below.