List of the best reasons to start a business
1. You might find more freedom
Freedom is the golden promise of Entrepreneurship. Time and again, the entrepreneurs cite autonomy and independence as a key factor in their decision to start a business.
According to the statista.com website, 50% of people start their businesses with the aim of becoming self-employed:
Why does this fervour for freedom push people to get into the business world? Freedom means having more control over the course of your life, having the power to direct it in the direction you want, rather than working to meet the whims and other requirements of their bosses.
“Owning your own business means being your own boss, deciding when you work, how you work, and what you work on.
Of course, business leaders must always meet market demand. But when you become a business owner, you choose how to do it. This gives you greater autonomy.
2. You would be proud of yourself
Completing difficult challenges gives us a sense of satisfaction.
Pride is not only a mortal sin. When properly dosed, it boosts your self-esteem and allows you to take credit for your accomplishments (such as creating a successful business).
Starting a business is no easy task. You'll pay for it in sweat, working hard to get ahead. But that's okay, because the entrepreneurs do not back down from effort or from challenge. We want to do big things.
“In Entrepreneurship, the important thing is not to participate.”
Nearly 46% of entrepreneurs are going into business at least in part because they want to achieve something and to be recognized for it.
While some humility is always important, this pride and recognition can boost your self-esteem. Why is that? Because a lot of research has shown that self-esteem has incredible effects. It gives you:
- More insurance
- More persistence
- More happiness
3. You could be much more successful
No current business is doing everything right. In the private sector, waste and inefficiency are commonplace, and beyond the numbers, there's the simple fact that we haven't yet invented anything that could improve the world. So one of the reasons for starting a business is to tackle these problems.
Think about your daily life. Is everything perfect? No At least once in a while, you encounter things that annoy, annoy, and exhaust you. You would like there to be a way to solve these problems, but that is not the case, so you complain and move on, hoping that one day it will get better. But if this is the case today, it is not necessarily inevitable, because every little trouble you encounter can be a business opportunity.
When you encounter a problem, ask yourself:
- Does a good solution already exist?
- If not, do other people have this problem?
- If that's the case, consider starting a business based on a new solution to your problem.
If you can alleviate a problem for people, then you have a reason to go into business.
4. You could make money
A successful business can make you a lot of money.
Money is a big reason why many people start businesses.
Of course, money is not everything, and wealth is not the only motivation for these entrepreneurs. It is only one reason among others. Even if you care a lot about money, it's true that most people, even the entrepreneurs the most successful will not reach the stratospheric wealth of Bill Gates or Elon Musk. But significant income is important and can even make you happier.
It is said that money does not buy happiness, but this old adage does not quite correspond to the current reality. Some researchers say that over a certain amount of income, more money does not make you happier, but before that's not the case.
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You need to figure out what works for you and how to balance your thirst for money and other aspects of your life that make it enjoyable.
But no matter how much you care about money, that's not the only reason to think about starting a business. Let's go over other reasons.
READ MORE: How to start a business for €100 (or less!)
5. You could learn new skills
Don't think you need an MBA (most entrepreneurs successful people don't have them). It's not the business world - starting your own business is a different thing, and in many cases, you can learn the skills Entrepreneurial that you need as you go.
In fact, many people start a business because they want to learn new skills. It is a dynamic and practical way to develop your know-how.
Why does learning take up so much of the time here?
To start a business, it's not enough to have an idea. You need to have the skills to make it happen and attract customers. Entrepreneurship allows you to learn these skills as you go and apply them as you go.
Since you probably can't be an expert at everything, you can also pay others to do some of these things (we freelancers need to stay in business in some way). But the more you learn, the more you can do yourself.
Okay, starting a business can help you learn new skills.
Why should you be interested in this?
First of all, I would say that learning is fun. Being able to do new things is just great. Second, it has psychological benefits, as the acquisition of new skills stimulates cognitive abilities.
“Around the world, people are going back to school, taking online courses, mastering other languages, etc... all in the spirit of growth and continuous learning. With today's more complex business environment, learning isn't just a fun thing to do — it's critical to staying on top.”
Plus, in a world that seems to be always faster, keeping up the pace has its benefits.
READ MORE: The 3 best inexpensive businesses to create with €1000 or less (or even €0!)
6. You could reduce your taxes
Obviously, this won't be your main reason for starting a business, but it's useful. As a small business owner, you can benefit from tax breaks that help your business, and even tax breaks that can help you as an individual.
In France, there are a number of tax benefits applicable in the event of starting a business.
These exemptions may, under certain conditions fixed for each scheme, relate both to income tax (IR) or corporation tax (IS), but also to local taxation taxes and taxes (corporate property tax (CFE), business value added tax (CVAE), zero-rate loan, etc.
A lot of help exists, do not hesitate to ask accountants or other entrepreneurs to find out about the different types of aid that you could receive depending on your region or country.
READ MORE: 4 business ideas for beginning entrepreneurs
7. You could create jobs
If you're starting a business, you may need to hire employees someday.
And let's not just look at the number of new jobs. There is more to it than that. As a business owner, you can treat your employees well, create an exceptional company culture, and make people feel that they are part of something that is worthwhile. Be the boss you would have liked to have (or, perhaps, imitate a great manager you worked under).
“Only 7% say they are really motivated at work in France” (source: Le Figaro)
It's the little things that make a difference in people's lives. They give them a reason to work for a business and to have a real motivation to wake up in the morning.
Too many people experience their professional life as a chore. Make sure you start a business like the one you've always wanted to have.
8. You could devote yourself to your passion
The decision to start a business is a decision that you have to make. There is another thing that you need to determine: what this company will do.
One reason to start a business is to ensure that your work is something you are passionate about. Most people would like to have a job that is focused on something they care about. It's time to express your passion.
Well, maybe.
Let's be real: not everything you love can be a lucrative business.
But you shouldn't give up on the idea of turning your passions into a business — you just need to be more attentive. Not everything will work out. But something could work.
What is the trick? Convergence. You need to think about what your passions are and what people are willing to spend money on.
You will find your business idea where these two ideas converge. This is where you can create a successful business while pursuing your passion.
It's exciting. But it's more than that because it's also useful. Passion not only makes a business successful, it can also make it successful.
Numerous studies have shown that passion for work has a direct and significant effect on business growth.
On this subject, here is a very interesting article that appeared in Forbes in 2020:
9. You would have the right to dream
Entrepreneurship is a constantly evolving challenge. New things are coming up, big goals are looming and you have to surpass yourself, fight, work hard... You just need to spend a little time in the middle entrepreneurial to see that it's an exciting environment.
Entrepreneurship is a race to overcome obstacles and a big journey into uncharted territory.
You can see for yourself if you read blogs about Entrepreneurship that the excitement of starting a business is not only about the company you are creating but about the path you take to found it.
10. You could take advantage of the web
EBOOST is a completely online business - and it works. The Internet is fertile ground for business growth.
Businesses can take advantage of the Internet to advertise, blog, survey customers, sell products, and reach a wider audience than ever before.
“There's probably never been a better time to be a entrepreneur. You can reach global markets, use technology to have made your actions more effective and smarter. All this while continuing to be agile and to create innovative products and services.”
The Internet also offers a multitude of tools that facilitate the creation of a business.
For example, the power of the web allows you to gather data about visitors to your website, which you can analyze and use for testing.
11. You could escape the “Rat Race”
Tired of 9:00 a.m. to 6:00 p.m.? Useless meetings? To have the impression that we value above all those who work more hours than others? What do you need to know how to do in politics to start a business? To ask yourself if life is really meant for this?
This term was popularized by the famous author Robert Kiyosaki in his bestselling book “Rich Dad Poor Dad.” This is what the Rat Race looks like:
- Studying hard at school and getting good grades
- Go to college and get a degree
- Send resumes and look for job opportunities
- Find a job (in a company) and work as an employee.
- Have more disposable income
- Improve your lifestyle and consume more to satisfy new desires
- Finance your lifestyle with debt (mortgage, credit cards, etc.).
- Stay in your job because you can't fund your debts without it.
- Dreaming of retirement so you can finally enjoy it!
- Telling you that you should have done these things before because you no longer have the strength of your 30s...
Does that sound familiar? For many people in our society this is unfortunately the case.
Starting your own business is not easy or stress-free, that's for sure. But it's yours: the freedom, the pride and the passion of Entrepreneurship make it a great way out to the Rat Race.
Not only do many people hate their jobs, but many live in fear of losing their livelihood. The pandemic has caused people to suddenly find themselves unemployed or facing the “threat” of losing their jobs.
Losing your job can be devastating, so it's no wonder that millions of people are turning to side activities and entrepreneurial projects to change careers or ensure their financial survival in these uncertain times.
READ MORE: 5 low-cost business ideas that you can implement with less than 100 euros
12. You would have a purpose and a meaning in your life
A business can be a fantastic source of meaning in your life.
Meaning, or purpose, is important. It differs from happiness, which I mentioned earlier, in that happiness comes from one-off pleasures, while meaning results from a global goal.
Starting a business is a big project. If you take it seriously, it will have immediate meaning in your life.
Freedom, pride, passion, and commitment come together to give meaning to life, that sense of purpose, dynamism, and invaluable value
I think we can agree that a meaningful life is a pleasant life. But if you disagree, think about the fact that a life without meaning can actually be bad for you and your health.
When you experience a lot of stress and anxiety, the effects can be multiple and The consequences are sometimes devastating (What are the long-term health risks of stress?).
13. You could learn to “Bootstrape”
It is not always necessary to have a lot of money to start a business.
Some people are worried about starting a business because they don't have capital to invest. While capital is useful, it's not always necessary to invest heavily to start a successful business. There is a solution: “Bootstrapping”.
Ok, but what is Boostraping? Here is a quick definition:
Situation in which a entrepreneur start a business with little capital. It is said that an individual does bootstrapping when they make do with their own resources and the capital generated by their business to finance their launch or development.
With the web today, getting started and testing a business idea has never been easier. Without knowing it, many entrepreneurs use bootstraping.
Reduced operating costs
Bootstraping isn't expensive - working with your own money means being super-efficient.
You are more aware of the costs associated with the daily operation of your business by creating and operating a “lean” economic model.
Control of decisions and benefits
In the absence of external investors (since only the founders invest in the company), the founders' equity and their control over the business are not diluted. The founders are their own bosses and are responsible for all crucial decisions about the operation and growth of the business.
This ensures that the company evolves in the desired direction, in accordance with the vision and values of the founders. In addition, if successful, you will have the privilege of holding all the profits generated.
Maximum focus on your offer
The fact that there is no problem finding external funding, which can be a very stressful and time-consuming task, allows you to fully focus on essential aspects of the business, such as sales and the development of your offer.
14. You could do “crowdfunding”
Bootstrapping is not right for your idea? No problem: another good reason to start a business is that we are living in the era of crowdfunding.
Thanks to the Internet, it has become possible today to solicit funds from a large public via crowdfunding platforms.
These funders (mainly individuals) who act in a philanthropic manner or to obtain income from it.
It's happening on websites like Kickstarter, Indiegogo, and ArtistShare. Business creators create “projects,” which include a web page explaining the idea of the project to people who visit the site and who can choose to become “supporters” by donating money. Most crowdfunding campaigns offer rewards to donors, such as a copy of the final product once it's made.
Instead of relying on a few big investors, you can go directly to the market and ask a large number of people to bring your idea to life. Crowdfunding helps businesses overcome the initial financial hurdle while giving valuable feedback on their offer.
15. You could experience new things
Every entrepreneur experiences a series of different situations, and these experiences are often opportunities that would never have happened if the person had been too afraid to start a business.
Starting a business is a very personal experience.
Some will get big, some will stay small. Some will be the origin of a new career, others will remain a secondary activity. Some will push the boundaries of innovation, and others will do things the conventional way.
Starting a business means entering the heart of a labyrinth. You don't know when or how you'll get out, but it can be a thrilling adventure.
Here's what's important:
- You'll take turns, make U-turns, and sometimes get lost. Others will take completely different paths in the same labyrinth.
- This path will pass through an environment unlike anything you have seen before. Yes, challenges are coming. But many of these new experiences are great opportunities that you would never have had otherwise.
These are things you will never have without starting a business. You will never know what opportunities will come your way, which is why you should think about starting your own business.
16. You could take up the challenge
I don't want to give the impression that starting a business is easy, because it's not easy.
Numerous entrepreneurs sacrifice a lot of free time and social life in the early stages of their business. Be prepared to put in a lot of effort. You need to make sure that you have the will and the strength to give your all.
Starting a business is difficult, but not insurmountable when you have the right methods.
That's why E was created: to help entrepreneurs at each stage of their journey.
17. You won't know if you don't try
Are you afraid to fail? This is the case for everyone.
You may think that you will never be able to make your plans come true. You may think that no one will ever buy from you. You may think that if you try to start a business, it will explode into a million pieces and get you nowhere. But if we don't at least try to start something, we'll never know if those fears are real or not.
The only way to know is to do it. Apart from that, they are only hypotheses.
Starting a business means plunging into uncertainty. Dozens, if not hundreds, of variables determine whether a new business will collapse or succeed.
You can't control all of these variables, but if you do your best where you have control, the rest are more likely to work.
The only way to guarantee failure is to do nothing. If you have a business idea, you should get started. There's no better time to get started than now.
Summary
The magic of Entrepreneurship is that it allows you to enjoy the freedom to make your own decisions and control your own destiny.
A path that conventional jobs do not allow. And by making your own decisions, you can create your own goals.
What are your reasons for starting a business? Did you like any of the ideas I've listed? Do you have additional ideas to add? Let me know in the comments below!
