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Six Reasons to Start Your Own Business

Updated on August 15, 2010

Maybe you have an itch to start your own business because somewhere deep inside you there's a hidden entrepreneur somewhere. You go to work in the morning at your regular job, but something makes you feel soulless, bored, and unsatisfied. You feel you can make a bigger difference in your life by making better use of your time and achieving things yourself.

If this is starting to sound like you, here are six reasons why you should start a business:

Reason #1
Potential for unlimited income.

For some, the path to riches is a big influence on their effort to start their own business. Money compels some of us to do our best in order to achieve more. The harder you work, the more you are rewarded. For others, money is not the biggest influence; however, it's more important to have the freedom of doing whatever they want without worrying about the money.

Aside from income, staying within the same subject of money, there are also monetary advantages of having your own business. This includes things such as tax breaks, discount pricing for the costs of materials from suppliers when bought in bulk, and having access to inventory from wholesalers who only sell to other businesses.

Reason #2
You are your own boss.

You have control over how the business operates and can take part of every aspect in running the show. You can input your creativity and innovation without limitations. You decide what time you work. You can work from home. You can have lunch breaks whenever you want. It's great!

However, aside from all the benefits of being your own boss, it's more likely that you will have to work harder than you would at a normal job. You need lots of energy to run your business as you will be making all the important decisions, handling all the risk, managing the operations, and maybe even go without a salary or with a very low salary at first to promote and grow the business. That's better than being given orders, right?

Reason #3
You get to work with what you're passionate about.

You have probably heard before that if you don't love what you're doing, you will not get very far before you burn out. Doing what you love allows you to wake up in the morning and look forward to a day of working in your business. When you go into business with what you're passionate about, that's the icing on the cake.

For example, entrepreneurs have a passion for just creating ideas and monetizing their efforts by starting a business off the idea; it comes natural to them and the risk is manageable if the right plans are in place. They love finding new opportunities they can take advantage of and are willing to take the risk of starting a business. Passion helps them get through the setbacks and roadblocks.

Reason #4
You want the achievement and are in it for the recognition..and maybe fame, glory.

People seek recognition and attention and a feeling of self-importance; it's only human. A sense of achievement can be a huge motivating factor in starting your own business. Starting a business in itself is an achievement that not very many people can do. Success is the only option!

Recognition for your accomplishments feeds your appetite for further success. However, there are some very humble business people out there who do not want to be famous or be in the spotlight. I do believe, though, all businesses owners want recognition for what their business is capable of as it draws in more customers and clients.

The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything
The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything

Highly Rated, Time-Tested Guide to Starting a Business. MUST READ!

 

Reason #5
You want a sense of security.

A few decades ago, if you had a job, you could count on it being there tomorrow. That is no longer the case in our modern times. Today, a company will not hesitate to give you the boot if they are temporarily out of work. This cuts back on costs for the company and makes their profits look better - but it leaves you out of commission. It's not surprising why there is less loyalty, more employee turnover, and fewer benefits like pensions these days.

If you start your own business, you are in control of how it runs. So, the more you improve the business, the more stable your "job" will be. This is where planning, marketing, management skills, etc. come into play

Reason #6
You get to prove your ideas and put money where your mouth is.

Let's say you have had an idea you talked about with your friends, family, and co-workers but never did anything about it. Well, its about time you walk the walk. Starting your own business out of the blue one day may come as a complete shock to them, but now you get to be in control of your destiny.

Sometimes taking action can be difficult. Not many people take initiative because it takes a lot of effort and energy to be proactive in starting a business and then running it. If you are determined to prove you can start your own business, run it, and make it successful - the only thing spilling out of your mouth will be the rewards down the road.

Work Hard, Play Hard

All the reasons above to start your own business have one thing in common:

  • Hard Work

It can be a difficult to stay proactive when starting your business, but you need to tell yourself that the rewards in the end will far outweigh the trials and tribulations.

"Hard work pays off."


Recommended MUST READS before you Start your Own Business:

The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything
The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything

Highly Rated, Time-Tested Guide to Starting a Business. MUST READ!

 

Comments

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    • Kosmo profile image

      Kelley Marks 

      8 years ago from California

      There are certainly plenty of reasons to start one's own business, but I'm not sure "security" is one of them. The marketplace is changing so fast that one's business could dissolve any hour now. Yes, I am quite the skeptic regarding such, yet I'll keep my eyes open for marvelous opportunities. At present, blogging may be the best bet, but be ready for a long haul. Later!

    • equealla profile image

      equealla 

      8 years ago from Pretoria, South Africa

      Your articles gives a nice layout of reasons for those who consider to start out with their own bussiness.

      This is not only a rewarding path to walk, but a road to self discovery, If anybody reading your article, do not get a twinge of exitement at the thought of such a prospect, they must re-read again.

      Congrats on the hubnugget.

    • Don Simkovich profile image

      Don Simkovich 

      8 years ago from Pasadena, CA

      PegCole17's comments are on target. There are benefits in the corporate world that aren't available to individual business owners. However, a person with self-discipline and vision can very well have a successful business. I would disagree with #1. Most business owners won't have unlimited income unless they can license products, books, etc. Otherwise, they're also working at an hourly rate, too. It may be a good hourly rate but it won't be unlimited.

    • PegCole17 profile image

      Peg Cole 

      8 years ago from Dallas, Texas

      This article really puts it into perspective. Enjoyable read and good topic. I started a couple of different businesses over the years. It really changes your perspective about time management and productivity and expenses and if you return to the corporate world you gain a new appreciation for benefits and vacations.

    • akirchner profile image

      Audrey Kirchner 

      8 years ago from Washington

      Good points to raise - I've had my own biz for 21 years although with the downtrend in the economy, pretty tough on it for the past 2 years so I've gone back to work for a national firm while keeping mine afloat. Congrats on the hubnugget nom!

    • Paul Raisbeck profile image

      Paul Raisbeck 

      8 years ago

      Another great book to add to your list - The E-Myth revisited, by Michael Gerber. Really helps new business owners get to grips with understanding themselves and their fledgling business. I've given it to loads of business owners and they've all come back and said they wish they'd read it when they were starting up.

    • deweyduck profile imageAUTHOR

      deweyduck 

      8 years ago from USA

      I was nominated for something?! I'm in complete shock right now.. thank you for all the nice feedback :)

    • emievil profile image

      emievil 

      8 years ago from Philippines

      Very good presentation. The reasons are explained in simple yet effective manner. Congrats in being a Hubnugget nominee and good luck!

    • Denise Handlon profile image

      Denise Handlon 

      8 years ago from North Carolina

      Loved the info. Voted it 'UP'. Congratulations on the hubnugget nomination and welcome to hubpages. :)

    • mquee profile image

      mquee 

      8 years ago from Columbia, SC

      Point number 5, is especially a reality these days. There was a time when people only worked for one, maybe two companies over a lifetime. Thanks for sharing. Congratulations on your nomination.

    • ripplemaker profile image

      Michelle Simtoco 

      8 years ago from Cebu, Philippines

      Deweyduck, these are good reasons to start your own business. Doing what you love is one of these that's for sure. It sustains you when you are feeling low and challenged. :)

      Congratulations on your Hubnuggets nomination. Check it out and vote right here https://hubpages.com/hubnuggets6/hub/Phantom-of-th...

    • fetty profile image

      fetty 

      8 years ago from South Jersey

      Presented well , this was an interesting hub. Congratulations on your nomination and welcome to HubPages.

    • Deborah Demander profile image

      Deborah Demander 

      8 years ago from First Wyoming, then THE WORLD

      This is a good hub, and outlines some good reasons to start your own business. Being your own boss is difficult if you are not internally motivated.

      Congratulations on your hubnugget nomination.

      Namaste.

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