Starting a business takes grits and guts, but it is a rewarding and fulfilling undertaking. There are many reasons why people should consider starting their own businesses and we will get to that soon. Whether you are pondering a business initiative or haven’t given it a thought, find your “why” in this article!
Compelling Reasons to Start a Business
Starting a business for some people is about fulfilling a passion or leveraging on untapped opportunities in their communities. For some others, it’s an innate pull that defies reason. Whatever the case, here are the top reasons why you should take a leap of faith and delve into entrepreneurship.
1. Financial Stability
Most salaried incomes are capped, which means you are given a set income regardless of your performance input. Unless you work in a setting where commissions and bonuses are a plus, you are at the mercy of a standard salary that takes a long time to double in size. You have to work twice as hard to reach mid-level management or get to the position where your salary advances. And this can take painstaking years to achieve.
But this is not the case when you have your own business. You get to decide how much money you earn by putting in the work. Your performance input is directly proportional to your income. Whether you are a freelance house service professional or run an enterprise, you can earn money on your terms. If you need more money, you can work longer hours or scale your fees. And if you’d like some free time, you can shorten your work time and earn less. Ultimately, the ball is in your court.
2. Flexibility
One of the hardest things about 9-5 or corporate jobs is the lack of flexibility. You have to show up for work on a set schedule and take permission to leave work. You have to take orders and comply with your employer’s rules. But when you run your own business, you can be a lark (early riser) or a nightingale ( nightcrawler)You can stay up late and take days off as you deem fit — you have the final say.
For instance, if you work as a home service hairdresser, you can set up appointments when it is most convenient for you. Or you can negotiate timing with your clients. You can also tweak your schedule to fit your needs. Have a family event on a weekday? Take that day off and replace it with the weekend. Feeling stressed? You can work from 11 to 7 instead of 9 to 5.
3. Fulfil a Passion
You can fulfil your passions and interests by starting a business. Many people have resigned from 9 to 5 jobs to pursue a business that best aligns with their skills and hobbies. Love interior decor? You can quit your corporate financing job and start an interior decor company or become a freelance home service interior designer. That’s completely okay.
As long as it makes you happy, there’s no right or wrong motivation for starting a business. While the road to accomplishing your goals might be rife with obstacles, you can surmount the hurdles and reach your happy place. With passion as your fuel, there’s no limit to what you can achieve. This is especially true if you dislike your job.
4. Dump Toxic Corporate Bureaucracy
Most Corporate workers deal with a corporate rat race or toxic company culture that saps their motivation, zeal, and happiness out of them. From sucking up to bosses to get promotions to taking on extra work to outcompete colleagues, the bureaucracy in the corporate industry is better imagined than experienced. Eventually, you may find that you are pursuing a career path that leads to a land of no return.
This is one of the many reasons why you should start your business and ditch the rat race for good. If you are sick of the games, put in your resignation letter and pursue a far more fulfilling venture. This time, the money and passion are only bonus points. Your topmost reason is to escape an unhealthy working environment and refresh your mental energy.
5. Set a Rewarding Career Path
When you have your own business, you can develop your career trajectory in a field that works for you. You don’t have to rely on your managers or HR to map out your path. People have deviated from corporate careers to ones that align with their best interests. It is okay to have a change of heart. You may feel guilty, regretful, or scared to take the big jump and start afresh. But if you are unhappy with the status quo, the risk is well worth it. People have gone from being top bankers to ambitious entrepreneurs ( happily).
You may have made a mistake pursuing a career in law, but it is not too late to take up painting (if that’s your true love). Drop the wig and take up the brush. Polish your skills by enrolling in professional courses. Let your artistic juices flow and work your way to the top of the art industry. Be it painting, fishing, writing, makeup, or fashion, you can call the shots and start a fresh career path that will lead to happiness and financial fulfilment.
6. Make a Difference
You can make a difference in the world by starting a business. You can pinpoint a specific global problem and use your business initiative to solve it. We’ve seen many notable and groundbreaking innovations from entrepreneurs worldwide that are making a huge impact. You can be part of the statistics. There’s a business opportunity yet untapped, a problem waiting to be solved. You can use your innate skills to be the beacon of hope while earning good money on the side.
Rather than waste your prospects on a job with minimal reward value, focus on making a difference. For example, the UK is currently experiencing a workforce shortage in the care industry. You can start a care company or register to become a house service companion caregiver. Provided, it is something you are genuinely passionate about, you can make a difference!
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