Starting a business isn't easy, but it can be rewarding. Being an entrepreneur means taking a lot of risks but it also has lots of potential benefits when things work out. So if you are on the fence still thinking about quitting your day job and starting out on your own here are six reasons to persuade you to make that move.
Earning Potential
When you own your own business you have the ability to earn much more money than you are likely to ever earn in your day-to-day job. You'll be able to earn money (or lose money!) fast based on your drive, luck, commitment and ideas.
Be Your Own Boss
Rather than doing what you're told, wouldn't it be better to be your own boss? When you own your own business it is likely that you will have to work even harder. But, you will do so under your own rules. You will choose when to go on holiday, when to go home, and when something is likely to be effective for your business. You should remember, however, that entrepreneurialism is as much about self-discipline as it is about freedom.
Hire People You Like
You'll be able to choose who you work with, rather than having to work with people that don't work hard, who aren't team players, and who are just plain lazy, you'll be able to choose your team. However this can be much harder than it seems. You will also have to make difficult decisions when it comes to hiring and firing. This will be even harder to do if and when you have to sack a family member but great fun when you are hiring them.
Achievement
There's very little you can do that's worthy of more kudos than building a company. Business helps the world go round, and many businesses do even more than. Imagine what the world would be like today without certain websites that the internet has helped to create. Some ideas are much more than just a way to make money. Once you have achieved what you aim to do, there's no better feeling. The rush you get when one of your ideas works is unbelievable!
Change
Someone who has entrepreneurialism within their blood will always think of ways things can be improved. For example, have you ever been in a situation where you have considered how your current employer could be more efficient? Ways that they could drive more sales, decrease costs, and improve customer services? When you own your own business, you will be able to make those changes. And, not only that, you will also be able to profit from them if your decisions were the right ones.
Experience
When you start your own business, it's possible you'll fail. That's part and parcel of being an entrepreneur. However, if you fail, get up again and succeed the second or third time around, you'll have lots of raw experience that most people will never acquire. You'll know what it feels like when the buck stops with you.
This experience will work well for you if you ever decide to start another venture, or even go back into the workplace. Investors like working with entrepreneurs who have started other companies in the past. They do that for one reason: they know that experience counts!
For Starting Up A Business
The three main demographics for start-ups are
* Baby Boomers past their sell buy date in big corporates but with skills their erstwhile employers still need
* Moms (or Dads) who'd rather spend time home with the kids and still work
* Tech Grads who'd rather "compute" than "commute"
This is all part of a general direction toward "hollow" corporations where senior execs and accountants outsource everything they can. They can reduce fixed costs, overhead, and be more agile in resourcing projects.
There's some good news for the Solopreneurs as well. Avoiding the daily commute, getting off the corporate tread mill, keeping more of what they make, taking a vacation or a day on the golf course once in a while.
But going solo isn't totally a bed of roses. Most of the support structures we rely on when working in a corporation are suddenly missing.
* In the past we looked after Strategy, or Tactics, or Execution, or Administration. Now we have to worry about all of these, and it's our nut we lose when it goes wrong.
* Few of us are properly trained as pure managers - keeping all those plates spinning isn't as easy when one guy has to do everything, all at the same time. Things don't get handled by organizational structures any more. In small businesses everybody does a bit of everything.
* IT support suddenly isn't there - all that complicated stuff we took for granted now takes up our customer time (or more often our "me" time.
* We're suddenly not part of the "networks" we used to rely on - we're outsiders.
* We don't have others bringing in the revenue - whether we like it or not, or are good at it or not, we end up "selling".
We can make our lives easier if we can change our thinking - from corporate executive, part of a team, going along to get along, to being connected to the rest of the world.
The world is full of people like us, with the same interests, challenges and needs for support.
There are thousands of new businesses providing services to the Solopreneurs, adding value and reducing costs.
The Internet is moving at the speed of light. If we have an insoluble problem today, we'll wait a bit, somebody will solve it for us, on the Internet.
If we can harness what's happening on the Internet, and exploit it to our business advantage, we'll replace the corporate structure benefits we miss and expand our networks and opportunities in the process.
Here's a set of basics anybody going solo might want to consider:
1. Ditch the Desktop.
* There's nothing more limiting than all that desktop, office productivity software. It's expensive, complicated, but worst of all, it stops us being "connected". Only be being permanently connected can be take full advantage of what's happening out there.
2. Look for Services - not Solutions.
* Solopreneurs don't need accounting systems or order processing, or even typical project management and CRM tools. They do need services to help them with these needs, but they're all available on the Internet for free, or close to it.
3. Look for Value Add
* Every service should add value to the basic requirement. For example we all need billing software. If we choose a billing service that hooks up to merchant processing and or PayPal we don't need to keep accounts receivables records. If we choose a planning or management system we should find one with "best practice built in". We can forget the training course, and just use the software.
4. Forget the Marketing Site - get a Blog.
* Nobody's interested in words we pay a copywriter for. They want to know what we think. Blogs are free, hosted, configurable and allow us to create our own persona. With a blog we don't need sales pitches and presentations - we invite people to visit our blog where they get our best stuff, every time.
5. Get "Connected" with Social Media.
* Set up profiles with Linked In, Facebook, Community and special interest sites. Join in forums and contribute. Ask questions and answer other people's. Replace the corporate network with your own, international, group of like minded souls.
* Get into Twitter - microblogging is the fastest way to find out about anything.
6. Get into "Video".
* If a picture is worth a thousand words, a video is worth a million - even if it's just a video of our slide presentation.
7. Publish what you know about in blogs and articles.
* This is your credibility, and it's permanent so worth doing well.
Some of the services the start-up might want to consider are the ones we use every day in our business. Here's the list:
* Front Office Box for managing relationships, plans and schedules (it's ours so we would)
* Google Aps for Email, Documents, Spreadsheets, Presentations and web sites (we do our accounting in the spreadsheets)
Both Naz Daud & Steve Reeves are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Steve Reeves has sinced written about articles on various topics from Social Media Marketing, Business Plan and Internet Marketing. Steve Reeves, CEO of Front Office Box, accountant turned salesman, entrepreneur consultant, young enough to want to change the world, and old enough to know better. Visit
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