If you think that people become entrepreneurs to make more money, you are wrong. There are more reasons to become an entrepreneur than just financial gain (which is also a very valid one).
On Beyond 8 Figures, we talk with a lot of entrepreneurs and each of them has their own unique reason for being on this journey. Today we wanted to share some of those reasons with you to inspire and motivate you. So, if you are interested in the idea of becoming an entrepreneur, just keep reading!
1. Control Of Your Destiny
This is one of the most popular reasons for people wanting to start their firm. Sure, being in charge is intimidating, but so is being powerless to determine where (or if) you’ll work next week as a result of ‘downsizing,’ ‘cap-sizing’ or ‘right-sizing’.
2. Risk-taking
This is another key pre-text for entrepreneurship. We take risks every day in our life; when we risk as an employee, the entrepreneur benefits from our daring. Being the owner is a significant paradigm shift, and those who make the jump keep all of the profits.
3. Genuine Commitment
You are never completely dedicated as an employee. You put out your best effort, but it is not yours. Being a business owner, you may become committed entirely, giving your all. It’s your child, and it’s a job you’ll love. It will give you a sense of pride and enthusiasm that is unlike any other work. This isn’t only empowering; it’s enjoyable as well.
4. Improve Your Performance
Running your company is unlikely to be a 9-to-5 job; when you’re the company’s CEO, you’ll have new duties. You are not only responsible for your actions, but for those of your employees as well. It’s a positive thing to push yourself; it’s how we learn and grow.
5. Help Your Clients
We seldom get to hear how our responsibilities impact others (or our clients/customers), even if we want it. Owning your firm allows you to connect with consumers and/or customers in an enriching way that is not possible in a conventional office setting. Apart from that, you can use online platforms to reach new clients such as mobile marketing.
6. Generate more money
This one should rank higher on the Top 12 List because its significance can’t be overstated. You are creating a legacy when you start a company. Reaching ‘C-Level’ income may indeed take a few years for which you’ll need to learn different tactics e.g. fundamentals of digital marketing, sending marketing emails, etc. nevertheless, the residual value you’re accumulating will generally outlast you and become a valuable asset for you and your family, which is a genuine legacy.
7. Take Pride In Your Workmanship
Ownership: It’s as simple as this; taking pleasure in the fact that something you built/ran/led is yours.
Taking pleasure in your work can provide both personal and professional advantages. Pride in your profession entails not only refocusing your thoughts but also incorporating new methods into your company.
Taking pleasure in your job implies that you are proud of the contributions you make to your organization. Entrepreneurs who take pleasure in their work appreciate being able to assist customers, develop goods, safeguard their businesses, or deliver high-quality services.
8. Flexibility And Freedom
This one’s a little hard because you’ll be working late every day for weeks or months. As time goes on, though, you will learn to make time for yourself, your family, and your community as you become used to the demands of business ownership and operations.
However, you can always outsource some of your work and create more time to focus on what really matters to you.
9. Bring Your Ideas To Life
Most people we meet have excellent ideas. The key distinction between a business owner and a worker-bee is that the business owners or entrepreneurs act on their ideas, while the employee/work-bee continues to ‘talk’ about them. Nothing is more gratifying than coming up with an idea and then putting it into action.
10. Be A Role Model For Others
Why do we feel at ease as entrepreneurs? It’s in our blood. Children observe and emulate their parents. If you are a working parent, your child is likely to be at ease as an employee. You may show your beliefs by your actions that someone does not have to be enslaved to an employer if they start their own company. Your children will be able to make their own decisions in life, just like you did.
11. Improve Your Quality Of Life And Those You Care About
This is an all-inclusive answer to the question, ‘Why should I start my own company?’ It’s for yourself, your family, your future, their future, your legacy, and so on. Finally, being an entrepreneur is all about taking control of your life (all elements) at the end of the day. Many entrepreneurs have told me that this is their main motivation.
12. DO IT, And Don’t Give Up
Many prospective entrepreneurs want to run their firm while also ‘hedging’ their bets. To them, the success of their business is more essential than having their name on the door. These individuals are ideal for researching franchising. A solid franchise system should feature tried and true methods that assist entrepreneurs in achieving their goals.
As you can see, there are several compelling reasons to start a business. There are risks, but in today’s “new normal,” outsourcing, globalization, and investor returns have never been higher. As a result, traditional employer-based careers are beginning to approach the same levels of risk than starting your own company entails.
