Reasons Why And Why Not To Start Your Own Business – Part 2

Why start business

In Part 1 of this series, we outlined some reasons which should prompt any business-minded individual to go out and try starting his or her own business.

In this installment, we’ll analyze and discuss further reasons why someone should give entrepreneurship a try before moving on to the reasons that should not prompt you to start your own business.

Some more reasons why you should wave goodbye to the cubicle and start your own business:

You constantly think about starting a business and can’t get the idea out of your head

My belief is that we have one shot on this earth. We are lucky to be born during a time which allows us to try and do almost anything. If the thought of not going out there and giving it your best bothers you, then you are ready to start your own business.

I have no doubt that you are ready. People with this type of mind frame, typically do not lose. Though, to increase your odds of success, make sure that you are choosing an industry (I would prefer service oriented) which you are going to be the best at.

If you strive to be the best at what you do, you’re bound to land somewhere in the top 10%. That’s my theory anyway.

You have been laid off

I can go on and on about this one. I remember, a few years ago I was depositing money into my bank account and the branch manager came up to the window and began doing the transaction. Since he was new, curiously, I asked him where he was from.

He proceeded to tell me that he worked at another bank, though he took 6 months off due to severance pay. My next inclination was to ask what this individual did with his 6 months. So, I asked. He spent it watching television. Those were pretty much his exact words.

This is not the type of person who would be interested in reading a blog like this, but if you lose your job, time spent grieving or doing something which is absolutely unproductive is uncalled for. By using the phrase “uncalled for”, I am referring to the fact that, in the least, this person should have given something back to the community.

If you are laid off, spend the time developing your own business. You can never have a more opportune chance. If done correctly, you have not only followed your dreams, but you have done so successfully.

You firmly know and have learned the skills to be self-sufficient in business

Starting your own business, unless you have a lot of funding, takes a strong knowledge of marketing advertising, and PR, an ability to sell, an eventual ability to manage others, and basic accounting techniques.

If you know the basics of the above skills, then you are ready to start your own business. When starting a company, the name of the game is to have the odds with you. If you have knowledge of these skills and understand the fact that if you outsource everything, your company will not make the profit it is capable of, you may seem good to go.

When it comes to vendors, and I can attest to this, none have a vested interest in making you rich.

You are doing it for yourself

Don’t open a business to prove anything to anybody. Don’t open a business only because you feel it is a way to make money, as this is not always the case. Open a business for yourself. Open a business to fulfill your dreams and become what you know you can.

If you become an entrepreneur for any other reason than your wanting to start a business, you’re not going to be successful. Plus, what if the person whom you’re trying to prove your worth to moves to Australia and never knows the success you’ve had?

The whole business you started which is doing revenue in the millions is down the drain.

In next week’s installment, we will continue with a few more reasons why you should start your own business. Stay tuned. In the meantime, did you leave the corporate world to start a business? Tell us about it in the comments!

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