1 Freedom! (Not necessarily the kind of freedom Mel Gibson was shouting about back in 1995.)
Autonomy, independence, and the freedom to live on your own terms are huge drivers in the decision to start up a business. Perhaps you found yourself commuting 2 hours every morning, perhaps you were staying later and later at the office, but for so many business owners the reality is that your business can really limit your freedom – if you let it!
2 Belief that you have a better offer. A Marketing Director once told me that he believed if you don’t have a competitive advantage then don’t compete. And this is true to a degree. Another really key driver for startups is the belief that your solution, service or product is better than what is already on offer. The reality is, no matter the quality of your offering, if the rest of your business processes aren’t behind it, you may still fall victim to the same challenges as your lower quality market peers.
3 I can make more money working for myself. Instead of working 40 hours a week for someone else, you can dedicate those 40 hours to you. Everything you put into yourself and your business will come right back to you – right? Well in that case, a key priority for you should be ensuring that your business is working as effectively and efficiently as possible and generating maximum profits. The question is – is it?
4 To follow your passion. Perhaps you opened your bakery because patisserie has been your passion since you were little. Were you born into a family of highly skilled tradesmen, grew up around the craft and found yourself taking on the family business? To work for yourself in a job you are passionate about is an incredibly rich and fulfilling way to live. To keep this way of life sweet, the key is training the business to run itself. (No, I don’t mean leave our buns to ice themselves!) The question to ask yourself is, are you enjoying your business or are you being bogged down with everything else (admin) that comes with earning a living from your passion?
5 To create jobs in your community. If you’re deeply in tune with your community and care about generating jobs in your area, perhaps you took the leap and set up a small business in your home town. Funnily enough, that’s why we are here too! Our goal at ActionCOACH Bury St Edmunds is to create 1,000 new jobs across East Anglia.
Whatever your reasons for starting up your own business, the end result must be a profitable enterprise which doesn’t compromise your time with family or your sanity. That’s where we come in. If something in this article has made you ponder, or perhaps even touched a nerve, then let’s talk about it.
We are here to support you in reaching your business goals.
