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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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10 Comments

10 Comments

  1. Sonia

    Aug 2, 2016 at 9:37 pm

    Tips 3 and 8 are great. Trusting and following ones instinct is always exciting. I like to call it in my case, a womens intuition. Also, it’s great to know there are other successful entrepreneurs ready to help and network with.

  2. Yaniv Valotker

    Dec 6, 2015 at 6:05 pm

    Great message. Thank you.

  3. 67 Steps Review

    Oct 26, 2015 at 5:02 am

    Oh man! This is great. I’m gong to bookmark this page to continue to reference it! And, I love Seth Godin. He’s a freaking genius. Thanks for sharing.

  4. Sakhile Mogale

    Sep 15, 2015 at 1:34 pm

    This is the journey I am embarking on. I am so excited. Thank you for such an inspirational article!!

  5. ERICK WER

    Sep 7, 2015 at 6:12 am

    Great message right there Joel. Thank you.

  6. Lawrence Berry

    Sep 4, 2015 at 5:20 pm

    This was an inspiring and true article. As an entrepreneur, I have experienced everything you have just stated. In particular, I have become a life-long learner who enjoys learning about any and everything. This is something I did not particularly have when I was in college because I was so focused on doing what I had to do to pass my classes and become good at working. Owning your own business definitely has its ups and downs, and sometimes there will be more downs than ups for many, but you have to have faith and belief that you can conquer your life and your business.

  7. Steven

    Sep 2, 2015 at 12:05 pm

    Great read, thanks! Number 2 is one of the most important pull (as well as push) factors in starting your own business, I feel. It incredibly rewarding to learn so much, about so much, in so little time. But it’s also daunting as it requires a constant state of discomfort. But hey, that’s part of the game :-).

  8. Rose Costas

    Sep 1, 2015 at 7:24 am

    Thanks Mo for a very motivating post. I have taken that step and believe it me it can be scary at times but I wouldn’t have done things differently. I have grown to know so much about myself, my capabilities and how much stronger I have become. What I get from starting my own business money will never be able to buy.

  9. Charlene Rhinehart

    Sep 1, 2015 at 5:34 am

    Thanks for sharing! Great tips.

  10. Charlene Rhinehart

    Sep 1, 2015 at 5:32 am

    This article brilliantly captured the feelings of thinking about your entrepreneurial passions while working a 9-5. I especially liked the call to action for individuals in their 20s who don’t have mouths to feed. You realize that you don’t have nothing to lose and everything to gain! The challenge is to not go back to a 9-5 in order to overcome financial insecurities. Thanks for sharing!

    Charlene Rhinehart
    Ms Corporate America 2015

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Startups

You Are The Problem With Your Business

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A great way to screw up your company is to get into the habit of blaming your suppliers, the market, your staff or your product for your failures.

I recently heard a story of a business that had set up a website. They sold various products and services focusing on helping people with psychological issues. The business owner was smart. The product solved a problem.

Unfortunately, the company was making almost no money. They’d hired someone to help them with their digital marketing and it wasn’t working.

Plenty of traffic was coming to the site, users were having a look around and then not buying a single thing. Who’s fault was this?

Well, according to the business owner it was the person running their digital marketing. As a result, they wasted approximately eight months marketing a website that couldn’t make any sales. The reason the business was failing according to the owner was because of the keywords that were being targeted in the marketing campaign. This is a horrible excuse.

The reason your business fails is because you’re blaming someone other than yourself. It’s the quickest way to bankruptcy. Don’t do that.


Your company is a reflection of you.

It took me a long time to figure out that a company is a reflection of its founder.

One of the businesses I had, had a toxic culture and a bunch of people that were rude to customers, arrogant and not nice people. That was a reflection of exactly who I was at the time.

The company was reflecting the flaws of my own life and what I refused to admit.

In the case of the business owner above, what was obvious is that they were good at telling lies to themselves. It was easy not to change as a business owner and insist that the change needed was nothing to do with their vision.

The issue of their company was not the digital marketing strategy but their lack of understanding around what their customer wanted.

The thought that their products were too complicated, not solving a real problem or priced incorrectly was an admission of guilt they wanted no part in. Hence the eventual demise of their company.


Take responsibility and it will change.

When you own the business, everything is your fault.

You have the power to solve any problem you choose. It starts with you being brave enough to admit that there’s a problem, and then secondly, being bold enough to insist it’s your fault and that you can change it.

The problems in your business can all be solved. That’s what it took me a very long time to understand. When I changed as a person and faced up to my hidden battle with mental illness that I didn’t want to talk about, the odds turned in my favor.

Had I have not taken responsibility for my mental illness, I would have never become a leader in a business or started another side hustle. I would have been crippled by the big, bad world that I thought I could control.

Control came from responsibility, and responsibility solved the major problem in my business: me.


Change is a must.

Not with your digital marketing strategy.
Not with hiring new people.
Not with developing a new product.

Changing yourself is the *must* because YOU attract the problems and the solutions into your business”

You can’t find the solutions or stop the never-ending problems until you stop the cause of it all: you. You’re the problem with your business. The good news is that it’s entirely within your control to fix.

Change you.

Not the business.

<<<>>>

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Startups

The Different Ways of Measuring the Success of Your Start-Up

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Image Credit: Unsplash

You’ve probably heard people use the term “unicorn” in a business context. This means a privately held start-up whose value has grown to at least one billion American dollars. Think Airbnb, Uber, and so forth. There is no doubt that some start-ups have been major financial successes. And many smaller-scale start-ups are doing great as well, working hard and turning a steady profit. But that begs the question of whether finances are the only way to measure the success of a start-up. As it turns out, they might not be. At least, not always and not on their own.

How to Evaluate Success

As anyone who’s been involved with start-ups knows, you need a fair amount of flexibility to do well in this environment. Take the division of labour for example – rather than strict roles, you’ll often see everyone do a bit of everything. The same principle extends to measuring success. It can be vague and mean different things to different people, and it can change over time.

But amongst all that vagueness, one thing has become clear. Predicting the success of a start-up is very difficult for external observers. As a matter of fact, it’s often impossible. Therefore, in order to evaluate how successful a start-up has truly been, we need to know the goals of its founder(s).

“Success means we go to sleep at night knowing that our talents and abilities were used in a way that served others.” – Marianne Williamson

The Numbers

When people think about business, it’s common to boil matters down to the finances. And it certainly is possible to use numbers to measure and predict the performance of a start-up business. Net worth, gross margin, customer acquisition cost – these can all be indicators of success. But, a start-up can post impressive numbers for a while, perhaps even attract large investors, and still shut down in the end. So does this make it a failure?

The answer to this depends. If the founders wanted to start a lasting business, then yes, they failed to meet their goal. However, that isn’t always the case. If they were looking for a short-term solution and came out with more money than they had coming in, a closed-down start-up needn’t be unsuccessful. It can actually be the opposite of that.

So, looking at the figures isn’t enough, and there are different perspectives to consider. When they start planning their business venture, start-up founders may not have any particular numbers in mind when it comes to profit. Instead, they can judge their success according to some of the following criteria.

1. Happy Customers and Solving Problems

The story of a start-up often begins with a problem. The desire to help people overcome a specific issue can be the spark which ignites the creation of an entire business. And in the end, that may be all that matters to the founders.

This is closely connected to the happiness of the customers. If the resulting product or service has made people happy by helping them solve a problem, that is all that may be required for a start-up to be a success. Now, no business wants unsatisfied customers. But in cases like this, happy customers aren’t the way toward the ultimate goal – they are that goal.

In other words, some start-up founders don’t just use financial reports to measure how much they’ve achieved. To them, the one metric which stands above all others is the quantity of positive feedback they’ve received. The main area of focus is customers who use the start-up’s products or services to solve a problem they were having.

2. Impact

Every start-up founder likes doing well in terms of revenue. But for some of these entrepreneurs, the profit is merely a side effect of what they actually set out to do – impact the world in a positive manner. You can see an example of this line of thought with Elon Musk. He said that back in college, he had wanted to be a part of things that could end up changing the world. The continuation of this philosophy is evident in his electric cars (which aim to reduce pollution) and the SpaceX program (which strives to break down some of the barriers of space exploration).

In both cases, the furthering of mankind is the ultimate goal. Many other start-up founders feel the same, even if they have smaller goals in mind. To these people, there is no greater proof of success than if their company has had a positive impact on society or even a small segment of it. In their view, to make a difference is to succeed.

“The only limit to your impact is your imagination and commitment.” – Tony Robbins

3. Freedom

For some, starting up their own business is less about getting rich and more about gaining the freedom to conduct their business the way they want to. In this case, financial success is just a means to an end. The endgame is to be your own boss.

The fact is, some people don’t do well when they’re constantly receiving orders. They are simply hardwired to be free thinkers and they require an environment that allows them to do things in their own way.

Being in a position where you hold all the cards can be exhilarating. The knowledge that your decisions are final is very empowering, and many strive for such freedom. If a start-up can allow such people to go from being a regular employee to being in charge of making all the decisions, then it has already achieved all the success that it needs to.

4. Time for Friends and Family

As many people know all too well, a job can easily turn into the focal point of your daily life. Instead of being a way to support your lifestyle, your work dominates your time. And when that happens, the time you have to dedicate to your loved ones becomes scarce. Combating this is precisely what some have in mind when they decide to take the leap and start their own business.

Now, running your own company is no mean feat and it will require a lot of effort. But the beginning is the most time-consuming part of the process. Later on, it can be possible to create a system which leaves you with a lot more time on your hands. You can spend this time with your significant other, your children, or your friends. A start-up which gives you this opportunity is perhaps the greatest success of all.

A start-up is an extension of its founders and so are that company’s goals. Some entrepreneurs are in it for the profit, but not all of them. In the end, there is no single way to measure the success of a start-up. It all comes down to the specific aims of those who established it. But if the founders can end their day on a happy note, then the venture is a success even if it doesn’t fit some standard definition of the term.

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Startups

The Problem Is Not Your Website Or Your Product.

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spend a lot of my time talking to business owners. They focus on their product, their marketing channels and trying to make more profit.

I met one such business owner who was in the plastic surgery business. Their product (boob jobs and nose jobs) was not working. Their website sucked and people clicked off as soon as they visited it.

People would call their office, get put on hold, listen to the on hold message and hang up.

This business didn’t seem all that special. I’ve talked to many businesses and didn’t think for a microsecond that a plastic surgery clinic could ever teach me anything valuable.

I’ve been to Hollywood on holidays and the issues of body image are all too apparent to me. Anyway, this post is not about body image.

I ended up losing this business as a customer — not that I would ever have sold anything to them if it were up to me. I sat down one afternoon and thought about why we no longer did business with them.

That’s when I realized it’s not about your product or your website. All the issues with this plastic surgery clinic and a lot of other businesses I’ve dealt with stem from one thing. Let me explain in more detail.


Your Google Reviews say you’re an piece of work.

I looked up their Google Reviews and their customers said they were assholes.

They spoke down to clients, they didn’t deliver their clients what they wanted, they argued with their staff in front of customers and they treated people like they were nothing more than a dollar sign.

All I had to do was read their Google reviews to see that the problem wasn’t their product or their website.


Your clients tell you every day that you suck.

I asked the plastic surgery what their clients said.

Many of their clients told them that their services sucked and they would prefer to go to places like Thailand where they could get a better product at a much lower price.

The business owner made the mistake of thinking it was their product that was the problem and that a new website will tell clients a different message.

That wasn’t it.


You abuse your staff and they consistently leave.

I spoke with many staff that worked for this business.

Every single one of them hated the company and were not afraid to say what they thought of the business owner.

The business owner would sit outside on a nice sunny day and look across the street at all the yachts and the people boarding them.

They’d sit there and think that every lead they got was going to take them one step closer to owning their very own yacht.

“If only I could deliver more boob jobs, maybe I could have one of those,” they thought quietly to themselves hoping that no one else could hear how ridiculous this sounded.

I can remember multiple times being on the phone to the business owner and having one of their staff burst into tears halfway through the call.

The first time it happened I didn’t think much. After the third time, I got the message. During the short time I dealt with this business, people consistently left. If you made it to the six-month mark, you were some sort of hero and would probably be given a free surgery to say thank you for your work and make you feel worse about your own body at the same time.

It was free noses and boobs in return for daily abuse.

The problem still wasn’t the website all the product.


You don’t solve real problems; you solve your own problem.

A good business solves a problem.

That problem typically affects human beings and solving it is how you make money in business. Solving problems can start out with a problem that affects you, but at some point, you’ve got to start solving that same problem for other people/businesses.

This owner of this plastic surgery clinic was only trying to solve their own problem which was making more money to buy fancy items like yachts.

Only solving your own problem is not just selfish but bad business.

Good business is solving a big problem or lots of small problems for entire strangers who you don’t know thus doing something valuable for the human race.

Solving only your problem will make you poor.

The problem still wasn’t their website or product.


Creating more problems.

Everything this business owner sold created more problems.

They’d film videos to purposely make people feel like their body wasn’t perfect.

They’d write articles suggesting that everyone needs botox to feel young.

They’d take photos of men and women who were supposed to be perfect so that young people would dream of looking like them.

Not only was their business not solving a real problem; it was also creating more problems every day that it existed.

If your business creates more problems than it solves, you’re in real trouble.You need to take a long hard look at the business and become obsessed with doing everything you can to change it — and do so damn fast to limit the whirlwind of problems you’re creating behind you.


The heart of the problem.

It’s the business owner.

The business I mentioned will fail. That part is certain. The problem with the business is not the website or the product.

The problem is the business has no heart because the business owner has no heart.

You cannot focus on your own selfish desires, create really bad problems in the world, treat other human beings like garbage and expect to go buy a yacht and live happily ever after. It just doesn’t happen like that.

Whether you are a plastic surgery clinic like the one I described or a solo entrepreneur, the problem with your business is you.

Fix the problem of YOU. You can’t get away with being horrible forever.
Being horrible is bad business.

Being respectful, kind and valuable is the final answer to the problem with your business.

<<<>>>

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Entrepreneurs

18 Must Read Business Books for Emerging Entrepreneurs and Startups

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Reading is both relaxation and training for the mind. Who reads, dives into another world. Learning, entertaining and breaking out of everyday life for a short moment. One could go even so far as to say reading is the second most beautiful thing in the world! Whether it is non-fiction or a novel of all the world’s man has created, the book is the most powerful tool. That is also, why we wanted to find out which business book you should undertake in the new year. (more…)

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