- Financial Benefits: Starting a business offers potential for growth and creates a valuable asset.
- Motivations and Challenges: Understand the driving factors and obstacles before diving into entrepreneurship.
- Ten Reasons: Exploring the motivations and perks of running your own business.
Ten reasons to start your own business:
- Each day at the office will be motivating.
- Deciding to start your own business is a leap of faith.
- The risks are not yours all alone when you start a business with a partner.
If you’re not growing, you’re dying, and starting a business is a sure way to skyrocket your growth. Ultimately you’ll be able to do what you want, when you want, as much as you want. If that sounds good – and it does to most of us – the answer to “Should I set up my own business?” is likely yes.
Starting a Business Definition: The process of creating a legal entity, registering with government agencies, developing a business plan, and finding necessary funds.
Pros and Cons Overview:
- Freedom and flexibility of being "the big boss."
- Need for discipline and rigorous schedule.
Job security is an encouraging advantage to consider among the pros and cons as you decide to start a business of your own. When you work as your own boss, you can rest assured that your job is secure for as long as your company’s doors are open.
I’m trying to start my own business on the side, but don’t feel like I can resign my current job and the possible revenue is so unsure making this decision even harder. Some time ago I met a guy (further part of the family) that is a bit older than me, he’s a native English speaker and his specialty is sales. My idea is to go to him and ask if he wants to start this business with me, him taking care of sales, clients, contracts and me managing all the technical stuff. Should I give it a try? Is 50/50 fair in this case?
So, to go back to the topic of this post – “Should you start your own business?” The answer will obviously depend on each person’s situation, but in our situation, the answer turned out to be a firm “yes”. It took us a while to get there as a couple, but the 3 questions we asked ourselves were:
I set my own hours as a business owner – I get to pick which 12 hours of the day I want to work! Yet anyone who has ever failed in business understands that these "all-too-perfect" perceptions cloak the darker reality of going into business for yourself. Running your own business is difficult.