6 Strong Reasons to Start Your Own Business

6 Strong Reasons to Start Your Own Business

start your own business

Do you know that more than 40 percent of Ph.D. holders still wander around the job market looking for befitting jobs?

Despite the ever-increasing number of unemployed graduates and job seekers, the International Labour Organisation (ILO), in its recently released analysis on world employment and social outlook, explained that the global job crisis is not likely to end anytime soon — especially in emerging economies.

The economic downturn has deprived many workers their only source of livelihood, making the job-seeking field a competitive realm. As a job seeker, you spend a whole lot of time surfing the web for job opportunities, meanwhile, if only half of this time can be channeled to thinking and creativity, you can be your own boss in no time.

Are you passionate about turning that amazing business idea that’s been brewing inside your head, for God knows how long, into a lucrative business opportunity?

*Check: Do you also lack the guts to make the first move? Well then, seems like you’re in luck my friend, as we’re about to steel your resolve with these six strong reasons why you shouldn’t hesitate and, in fact, start your own business right now. Just keep on reading and you’ll find your motivation in no time.

1. You’ll be in control (of your life)

First of all, starting your own business gives you the unique opportunity to take back the control of your life and actually do something about it. Essentially, you’re your own boss and, as such, you get to make all the important shots and decisions for a change. This includes: when and how you’re going to work, as well as what the main focus of your work will be overall.

Hence, by gaining a bit more responsibility you get increased flexibility and autonomy to do things better, to do them your way. According to a paper published in the International Entrepreneurship and Management Journal, 57% of Australian entrepreneurs rank independence as their top motive, in place of other motives such as wealth and necessity for starting their respective businesses.

2. Don’t let your dreams be dreams

Due to the state of the economy nowadays, we cannot always choose to do what we love. As a result, we’re oftentimes forced to do things that aren’t as fulfilling, to say the least, in order to survive. However, this does not have to be so. If you start your own business, you get a chance to follow your own dreams and work on things you’re really passionate about.

Of course, not every passion can be monetized as easily, but with a bit of ingenuity and some market research, you can find that sweet spot where your passion converges with those of others. In addition, passion will also act as a driving force that will make your business more successful by helping you overcome various challenges and reach new milestones.

3. Provides a sense of meaning and purpose

By kick-starting your business, you’re not just adding meaning to your own life but to the lives of others as well. Entrepreneurs that register a company as a small business virtually employ half of the total workforce in Australia as, according to a report made by the Australian government, small businesses provide employment for nearly 4.8 million people.

Moreover, this is not just an isolated incident and the same could be said for the workforce in the US and the rest of the world in general. Meaning, your business will effectively contribute to the lives of people in your local community, your town, and even your country in the grander scheme of things. So, be the boss you’ve always dreamed of having, and enrich not only your life, but the lives of those around you as well.

4. You’ll acquire new skills

Do you really think business magnates such as Bill Gates, Steve Jobs, and Mark Zuckerberg actually learned how to become successful entrepreneurs while they were still at college? Well, think again. All three of them are in fact college dropouts that went on to pursue their own business ideas, and just look at how far they’ve come. This is because entrepreneurship has taught them more about running a successful business than college ever would.

By starting your own business, you too can learn the ropes of the trade and acquire new, exciting skills essential for your career both as an entrepreneur and an employee. Some of these include time management, man management, SEO, copywriting, marketing, budgeting, and so on.

5. Financial gain

Not everyone is motivated solely by their passions. In fact, most entrepreneurs are in it to win it, big time. As such, starting your own business is an excellent way of earning yourself a nifty fortune. Yet, it’s not as easy as it sounds. According to statistics, 8 out of 10 entrepreneurial ventures fail within the first 18 months. Fear not, though, for all of this can be avoided if you simply learn from their mistakes.

Heck, even Jeff Bezos, the founder of Amazon, made countless mistakes in the past and his net worth is still around $1 trillion dollars. So, rather than dreaming of hitting the jackpot, think of ways you can improve your game and upgrade your business’s products and services. Success and riches will come later.

6. Amassing valuable life experience

As the saying goes, you learn something new every day. With entrepreneurship, this is most definitely the case. To those willing to take a leap of faith, it offers a wealth of experience. Now, whether you use this newfound-knowledge to improve your existing business or decide on starting a new one is totally up to you.

In addition, even if you should somehow fail, having previous entrepreneurial experience is highly valued among employers, so there’s absolutely no excuse for you not to give it a shot. Whatever the case may be, you’re up for an experience of a lifetime.

In the end, it all comes down to you and if you don’t take a chance you’ll never know. So, just go on and do it already.

Author: Victor Miller

Victor T. Miller, a Sydney-based business and marketing specialist who has expanded businesses over 5 years. I am a person who loves to inform people about the latest news in the industry also as sharing tips and advice based on my professional experience and knowledge.

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