Do you understand your reasons for your start-up?

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Even crocodiles can’t resist temptations.

 

 

Know the reasons why don’t get caught in a trap

So, you want to start-up a new enterprise? Wee. you had better become comfortable with the idea of failure because it’s your failures and mistakes that will teach you the most about building a good business.

Owning your own business can be very rewarding and satisfying. However, make sure you are doing it for the right reasons. There may well be a number of good reasons but understand exactly what they are and the implications of each one.

  • To follow my dreams, not someone else’s. I’ll be doing what truly brings you joy.
  • I want to be involved with my family more.
  • No more commuting.
  • I can work from home. I’ll create the life I want to live.
  • I can create the lifestyle I want for my family.
  • To create a business for my children.
  • More control of your time, I can work the hours I want.
  • To improve my health and well-being.
  • More opportunities to learn and if I do it well, I’ll never get laid off again.
  • Be my own boss, no more bowing to some fool in the corner office.
  • More self-respect. I’ll know that I’m truly accomplishing something.
  • More self-awareness. Particularly if you quickly learn your strengths and weaknesses.
  • More individuality I’ll never become a cog in someone else’s machine.
  • I’ll be creating something that is unique.
  • I’ll be helping make the world a better place.
  • More opportunities to travel.
  • More focused self-development, able to focus on improving myself.
  • More reward and the opportunity to succeed beyond my wildest dreams.
  • More control of my working environment.
  • More financial independence and when I make it big, it will all be mine.
  • I can set the salary that I pay myself.
  • More opportunities to give and work for causes I truly believe in.
  • More interesting work as I will be doing what I love doing.
  • I can delegate, or outsource the stuff I don’t like doing.
  • More opportunities to teach and help others.
  • A better perspective on work, family and life.
  • I can create a better, more flexible working environment.
  • More disposable cash with better tax benefits.
  • More challenges and opportunity to avoid boredom.
  • Nobody will ever steal credit for your accomplishments again.
  • I would like to become a role model for friends and family.
  • When I’m taking time off, my ‘boss’ won’t pester you.
  • I want to make my mark in the world with more interesting people of my choosing.
  • More of life’s purpose. I’ll never wonder “why am I doing this”?
  • Create more jobs and reduce unemployment in my community.
  • To get the young people more engaged with their community.
  • To engage older people in the community to pass on their skills.

Keep in mind that most collapsing start-ups don’t go out with a bang. They slowly fade away and the owners are left to find other reasons to be in business.

Without the right reasons you can be in business for years before you finally lose all you money, so be sure you have the right reasons in the first place.

 

[read more=”Personal Experience” less=”Personal Experience”]

Personal Experience

The best reasons for starting a business usually revolve around the owners doing what they love doing and they are not likely to tire of the sometimes boring work they might have to keep doing, year in, year out.

And be sure your start-up business ideas will be exposed to a good sized and profitable marketplace. You don’t want to spend all your money and then realise no one wants to buy what you are offering.

Take a hard look at the numbers. If the basic numbers won’t work in your favour, it’s time to go back to the drawing board. Don’t burn so much cash on the development of a product or service that it simply became impossible cover the losses, even with strong customer support.

In my experience, I find people who don’t like dealing with people will run into problems. This could be a good reason not to start-up your own business.

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