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10 Reasons Why You Should Start Your Own Business Today

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Are you thinking of quitting your job and starting your own thing but not sure if it’s the right decision?

Are you scared of failing? of going broke? of living uncomfortably? of disappointing your loved ones?

Are you scared that you might not be able to live up to your own expectations?

Not everyone wants to be an entrepreneur. But if you feel it in your blood and feel an itch to start your own thing, you must do it. The reward is not just the money which most early-stage entrepreneurs don’t have. In fact, most businesses fail. But why am I still encouraging you to start your own thing if you have an itch to do so?

Below are the reasons why starting your own thing might be the best decision you’ll ever make in your life.

And believe me, if you’ve been pondering about doing it, you just have to do it!

 

1. You will delete the ‘what-ifs’ in your life.

Most of us are passionate about something. And if we are talented enough to be good at what we’re passionate about, surely we’d want to turn that into a career. But competition might be fierce. The market might be tough. Finances might not look so bright. So, we stick ourselves to the 9-5 because it makes us feel safe and secure.

But what if you’re bored in your job? What if you’re not excited about going to work anymore? What if you’re looking forward to doing something of your passion and having freedom with your own time?

Starting your own business might sound scary but it is a sure way to get rid of what-ifs in your life especially if you’re in your 20s and don’t have a family to feed. You have nothing to lose but a whole lot to gain.

 

2. You will accelerate your learning curve like never before.

One of the things you will learn when starting your own business is learning. Being an employee, you learn about your role and your industry. However, being your own boss, you have to learn everything – from marketing to accounting, operations, and finance. You will have to keep up-to-date with the new technology, tools, consumer trends, and industry news. You will learn like never before.

Before you know it, you will become a lifelong learner who loves the challenge of learning about something new. You will take life as a progressive journey as you do with business.

There is no better way to accelerate your learning curve like starting your own thing!

 

3. You will learn to be independent in your thinking and trust your instinct.

Starting your own business requires you to think on your feet a lot. Whether you start it on your own or with a business partner, you will have to make a decision without a boss or team members who are there for you bounce ideas of. Over and over, you will learn to make decisions independently and become more decisive as you grow. You will learn to trust your gut instinct because no one else knows your business like you do.

It is a wonderful feeling to feel that every decision you make is solely dependent on you.You don’t need to compromise with different opinions from your boss and your colleagues anymore. You make your own decision and you are responsible for it.

 

4. You will wake up every day driven and motivated to go to work.

Surely this is one of the main reasons why people start their own thing. Nothing feels as exciting as following one’s passion and dreams. You might have a few sleepless nights because reality keeps you up with excitement – thinking about different ideas and strategy, stalking your competitors, and dreaming about the possible dream-come-true. Even during down times not making any sales, you’re still motivated to go to work, fix the bugs, pump up the sales, and make it happen.

Because the business is yours and yours only. You’re not working for somebody else, so work hard and make it happen. The reward will be worth it.

 

5. You will become more daring and fearless.

Starting one’s business can be scary for any first-time entrepreneur without wealthy parents backing them up. You have to believe in yourself and make daring decisions over and over. From deciding that you will not get a full-time job to investing in the business and making several business decisions on your own.

Becoming an entrepreneur you will get rid of your self-limiting belief like never before. You will learn that nothing is to be scared of. You will learn that your comfort zone keeps expanding every time you get out of your comfort zone.

You will learn to initiate contacts and approach people. You will learn to make things happen and even if you have no idea about something, you will learn about it in every way you can without doubt and without fear. Over and over, this becomes a habit. You will have built this boldness in you and will become used to getting out of your comfort zone

 

Checkout Seth Godin’s Advice on Conquering Fear to Start Your Own Business

https://youtu.be/JkpfhmDdU3A?t=19s

 

6. You know what it feels like to truly follow one’s passion.

Some people might never understand why some people decide to become a struggling artist instead of doing something else for a living. After starting your own business, you will understand how fulfilled it feels to actually follow your dreams and your heart. The reward is not necessarily the money.

The reward is in being your own boss and in the art of creating something that you truly own and love. You will learn what it’s like to sacrifice external things that make you happy (like drinking and eating out) for things that make you happy internally (like making your business succeed).

Of course, a profitable business is what proves your capability as a businessman. However, what truly drives you is not the money; it’s the passion and fulfillment you get from following your dreams.

 

7. You will become a man of actions, and not just words.

A lot of people talk the talk but don’t walk the walk. As an entrepreneur you cannot just talk and don’t make actions. You have to keep your words and follow through. In fact, things will not happen unless you make actions.

Being an entrepreneur teaches you that things don’t happen as you wish, things happen as you do. You cannot ask someone else to do it for you or expect a colleague to help. You are on your own and only actions will bring your idea to life.

 

8. You will realize that there are so many talented and ambitious people out there.

Being an entrepreneur can be lonely at times. But if you make friends with other entrepreneurs in your community or even around the world, you will realize that there are so many talented and ambitious people out there. You’re not alone. You’re not on your own. And these people are more than happy to share with you their experiences, advice, and recommendations.

Suddenly, the world seems not so small anymore. There is a whole world out there waiting for you to discover, to learn, and to grow.

The more you get immersed into the entrepreneur’s world and interact with other entrepreneurs, the more opportunities you will spot and the more driven you will become.

 

9. You will never doubt yourself ever again.

Starting your own business takes guts. To be able to take a leap of faith in yourself and jump, you will have already gotten rid of your self-doubt. And on the process of working on your own business, you will become even more of a firm believer in:

Whether you think you can, or think you can’t, you’re right.”

Most important of all, you will never hesitate to invest in yourself because it is the only thing that always multiplies and can never be taken away from you.

 

10. You will want to do it all over again.

You might have succeeded. You might have failed. But the fact that you have learned so much along the way makes it all worth while.  Starting your own thing gives you a sense of control in your own life and joy and fulfillment in doing something that you truly love.

The rush, the excitement, the fear, the tears, the sweat, and the countless nights sleeping next to your laptop – they are experiences you would never have if you haven’t started your own thing. You couldn’t have it any other way. And you’re always looking out for the right opportunity to do it all over again.

 

Quick Tips;

If you want to start your own thing but still don’t know where to start, follow theses steps;

1. Start by thinking about your true passion – what you want to wake up to doing everyday.

2. Think about a killer business idea and test it with the market. Make sure there is a demand for that and who your target customer would be. Get to know them. Learn about them as much as you can.

3. Consider the skill set that you have and that you lack. When starting your own business, be the boss in the area that you’re good at and hire someone to help you in the area that you’re weak in.

4. Take a leap of faith in yourself and just do it. You can always get money back but you can never get your time back. So follow your dream. Don’t waste any more time. If you succeed, you will be rich and happy. If you fail, well, at least you’ll become smarter.

 

Mo Seetubtim is a designer and founder of the Inspirational website "BrandMentalist", she is also a writer for other top publications such as Thought Catalog, Addicted2Success and The Huffington Post. She is also the founder of The Happiness Planner, a stationery brand that focuses on happiness, positive thinking, mindfulness, gratitude and self-development.

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Startups

5 Strategic Power Moves to Successfully Build Your Empire

Transitioning from idea to empire is a journey of strategic planning, execution, and constant evolution

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how to build your empire

The journey from a fledgling idea to a thriving empire is both exhilarating and daunting. The Startup Launchpad is not just a process but also a strategic framework that enables visionary entrepreneurs to become market leaders. This framework comprises five power moves, each a critical steppingstone in building a successful business.

These moves—Ideation, Business Plan, Online Presence, Strategic Marketing, and Launch and Growth—are the blueprint for turning aspirations into achievements. (more…)

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How to Avoid Startup Clichés and Buzzwords When Pitching Investors

Using jargon can make you sound like you’re trying to fill space instead of providing meaningful data

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Entrepreneurs frequently seek startup funding through a variety of channels. Yet, none seem as challenging as successfully pitching to experienced investors. After all, investors are pressed for time and eager for opportunities. These characteristics make it challenging to motivate them, especially if you’re bombarding them with a pitch full of jargon. (more…)

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From Idea to Empire: 5 Power Moves for Your Startup to Thrive in Today’s Market

As an entrepreneur, I’ve learned that understanding market dynamics and choosing the right business model are crucial

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How to thrive in the startup market in 2024

As an entrepreneur, I’ve learned that understanding market dynamics and choosing the right business model are crucial.

A few months into the startup, I was quick to gauge why it is necessary to go beyond the nuances of operational efficiency and the art of sustaining a business amid growing competition.

Collaboration is key.

The HR and the recruiting teams work with departments to foster a culture of collaboration, but what’s indispensable to business performance is the sync between the marketing and sales teams. What we’d consider as entrepreneurs is the need to ensure seamless collaboration to predict and achieve business goals together. In turn, this will help secure long-term recurring revenue for the business.

Besides, entrepreneurs need to focus on revenue as they gear up to take their startup from $0 to $1 million. The journey is filled with critical decisions, from identifying your target customer base to choosing the right funding strategy.

So, what next?

Read on… because here are five practical, results-driven strategies that you as a founder can implement to make a mark in their industry.

#1. Embrace the Lean Methodology

What is lean methodology?

It is all about pivoting resources to create more value for customers with fewer resources. 

This principle encourages you to be more agile and allow rapid iteration based on customer feedback rather than spending years perfecting a product before it hits the market.

Want to implement it?

Here’s what you can do.

Build “Measure-Learn” Loop: What I did was develop a minimum viable product (MVP), a simple version of the product. You can do the same since it allows you to start the learning process as quickly as possible. After launching MVP, measure how customers use it and learn from their behaviors and feedback.

Here’s what I can recommend here:

  • Identify the core features that solve your customers’ primary needs and focus solely on those to develop your MVP.
  • Know the feedback channels where early users can communicate their experiences, suggestions, and complaints.
  • Analyze user behavior and feedback to make informed product development and iteration decisions.

#2. Focus on Customer Development

Let’s talk about taking our startup to the next level. 

It’s not just about getting customers – it’s about really getting to know them. We need to dive into their world, understand their struggles, and see how our product or service can make a difference in their lives. 

It’s like we’re detectives, piecing together the puzzle of our business hypothesis by actually chatting with our customers

What would you ideally do here?

Understand Customer Segments: I’d say, start dividing your target market into segments and develop a deep understanding of each segment’s demographics, behaviors, needs, and pain points. The idea is to get into their shoes and really feel what they feel.

Ensure your Product Clicks: When starting up, think of what you offer and consider whether it clicks with what our customers need. My thought was “Does my product solve their problems? Does it make their day better?” Put yourself through a tough grilling session to show customers the value proposition and ensure that the product’s promise matches what our customers are looking for.

I’d recommend the following actions here:

  • Talk to them – through surveys, interviews, or even casual chats. The goal? To gather real, raw insights about what they need and expect.
  • Use the collected data to create detailed profiles for each type of customer. This way, everyone on our team really understood we were serving. I think this should help your startup as well.
  • Try out different versions of our product with a few customer groups. It’s all about feedback here – understanding if you’re hitting the mark or if we need to pivot.

#3. Foster a Data-Driven Culture

The digital world is highly data driven since it fuels key decisions in a startup. 

I believe it’s essential for us to build a data-driven culture. This means, you’ll move from making decisions based on hunches or assumptions. Instead, the focus should be on data analytics and insights to guide our strategies and improve our outcomes.

What can you do?

Use Data Analytics Tools: You should be using these tools to gather, analyze, and interpret data related to customer behavior, market trends, and our business operations. Here, consider the adoption of pipeline forecasting that leverages AI to find patterns in marketing data. 

In turn, you’ll get areas for improvement since it can analyze historical data and predict the outcome for you to plan your.

Action Items:

  • Pinpoint key performance indicators (KPIs) that align with your business objectives and ensure they are measurable and actionable.
  • Next, you can consider training your team to understand and use data analytics tools. This might involve workshops or bringing in experts to build a data-savvy workforce.
  • Once everything is in place, regularly review data reports and dashboards. This gives us a clear picture of a startup’s health and helps adjust your strategies and predict future trends.

#4. Strengthen Your Financial Acumen

A good grip on financial skills is important to steer your business towards growth and making sure it stays on track. For this, you’ll have to understand the money side of things, which helps you manage your cash flow. Think of figuring out smart investment moves and sizing up any risks that come your way.

Here’s a tip on how you can get savvy with your finances.

Maintain Rigorous Financial Discipline: I’m really focused on cultivating a strong company culture, one that truly resonates with our mission. So, I’d suggest fostering open communication and encouraging a sense of ownership and collaboration among everyone in the team.

Action Items:

  • Get to know your financial statements inside out – I’m talking about the income statement, balance sheet, and cash flow statement. These are like the vital signs for your business’s financial health
  • Use financial forecasting that helps predict your future money moves. With this, you will have a heads-up on upcoming revenues, expenses, and how much cash you’ll need. Also, research on the available financial forecasting tools that can make predictions spot-on.
  • Don’t go at it alone. Regularly touch base with financial advisors or mentors. With them by your side, you’ll have a fresh perspective on your financial strategies to ensure you’re on the right path to hit your business goals.

5. Prioritize Team Building and Leadership Development

It is crucial to focus on building a solid team and developing strong leaders. This means putting our resources into the people who are going to propel our company forward. 

What you’ll aim for here?

Creating a culture where everyone collaborates and every team member has the chance to emerge as a leader.

What I would do:

Cultivate a Strong Company Culture: This culture should mirror our mission and foster open communication. It’s important that it encourages everyone to feel a sense of ownership and work together.

Invest in Leadership and Team Development: As founders, we’ll have to make way for opportunities for teams to enhance their skills, face new challenges, and grow in their careers.

Some concrete steps that you should consider taking:

  • Begin with clearly communicating your startup’s vision, mission, and values so that every team member is on the same page.
  • Conduct regular team-building activities and workshops to boost skills and strengthen a sense of unity and collaboration.
  • How about starting a mentorship program within our organization? The more experienced team members could guide and support the growth of newer or less experienced folks.
  • Alas… encourage feedback at all levels. We should keep striving to create an environment where open, honest communication is the norm and everyone feels safe to speak up.

I know it’s one thing to get your head around these ideas and quite another to actually make them a part of your everyday business life. But that’s where the real magic happens, right? It’s all in the doing. 

As a startup founder, this means more than just being a big dreamer. How about rolling up your sleeves to be the planner who pays attention to the smallest details. Ultimately, these tips and more tactics around it will help carve a leader in you who listens and cares and the learner who’s always ready to adapt

So, as you’re either starting out or moving forward on this entrepreneurial adventure, keep these practical tips right there.

May these be your guiding lights, helping you steer through the wild and exciting world of building a startup that’s not just a dream, but a thriving reality.

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12 Things I Learned in 12 Months of Working on My Startup

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Image Credit: Unsplash

A few weeks ago I launched my startup. It took exactly 12 months from the initial idea until the moment I saw my app in the App Store. And these were some of the most challenging, fun and exciting 12 months of my whole life. (more…)

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