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Why start a business in the first place?

Provided by SME.com.ph

Why would anyone even bother to start a business in the first place? It’s risky, taxing, stressful, and perhaps even a threat to one’s reputation. And yet a good number of people have started their own businesses, and have reaped generous rewards from these.

 

So what makes people begin a business in the first place?

 

 

“I want to be my own boss!”

 

Entrepreneurs resist having to work for somebody else. The usual explanation goes like this: “Why should I work for somebody else’s dream when I can work on my own?”

 

This implies that entrepreneurs do have their dreams in the first place. A person without ambition, suffice to say, cannot be an entrepreneur for the simple fact that one has to have a goal to work towards in the first place.

 

Add to that a touch of independence and you get the mindset behind many entrepreneurs.

 

 

“I have a vision!”

 

Successful entrepreneurs have a vision of their company’s success, and will do whatever it takes to achieve it. Many successful entrepreneurs dream of changing the world (or at least their little corner of it), particularly when they are introducing innovative products, services or technologies into the marketplace. Other entrepreneurs use their businesses as a means of furthering a personal agenda, such as saving the environment and championing human rights, as in the case of Anita Roddick, founder of The Body Shop.

 

Many of these entrepreneurs may not have a complete plan regarding how to get to where they want to be, but what they lack in planning, they more than make up for in their strategic attitude. This means that they will seize any and every opportunity that comes their way to further inch their way towards their envisioned future.

 

 

“I want to make lots of money!”

 

This may be a bit of a taboo topic among entrepreneurs, and perhaps for good reason. For one thing, ask an entrepreneur why he or she started a business and chances are that the reply involves his or her having a clear vision of what the business can achieve. Rarely will they talk about money.

 

But at the back of their heads, money is nevertheless a motivator. And the fact is that being employed in “someone else’s” business can only give you a certain amount of revenues per year in the form of salaries. But if you start your own business and do it right, your revenue stream can potentially be far greater than you can ever make as a salaried worker.

 

The catch, of course, is that this will come true only if you hit upon an effective business idea. And sadly, not everybody gets to do so. Which means that, if money alone is your motivator, you may end up losing more in the end because you did not focus on establishing a sound business idea in the first place.

 

Sometimes, however, the need for more money, particularly when it involves an urgent need for providing for one’s family, becomes a very powerful motivator indeed. So much so that the entrepreneur will do whatever he or she can to make his or her resources grow as quickly as possible. In such cases, the vision becomes one of making the entrepreneur’s family as comfortable as he or she can, and this drives the growth of the business venture.

 

 

If you sympathize with any of the above points, then perhaps you do have an inclination to start your own business as well!

 

 

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