There are many reasons why people start businesses but some reasons are more valid than others. This article is to help you understand the reality and the challenges that you will face after the initial excitement subsides.
Positive Reasons to Start a Business.
If you believe that you are talented and you have identified a market that can be served by a product or a service that you could provide, this is a good starting point, provided those assumptions are valid.
Evidence of this is where you are already involved in that industry, you are very good at doing what you do and your work is highly regarded by your employer and their customers.
If you are therefore looking to provide a similar service to what you current do (low risk) where there is proven demand (low risk), there is a good probability that you will be successful provided you can get access to those customers.
Negative Reasons to Start a Business
Some people start a business for the wrong reasons. They don’t like their job, they don’t like being told what to do, they want to be the boss, they don’t like having to work regular hours, they want to make loads of money, they want to have lots of time off.
I would like you to think of your customers as like the ‘ultimate boss’, except there is no safety net in terms of having any employment security. You slip up and they may drop you and there goes your livelihood!
Most successful business people think of their business 24 hours per day, 7 days per week, 365 days per year. Their priority is always to serve the needs of their customers.
There is no room for ego… there is only room for talent and lots of hard work.
Of course there are exceptions
Of course people often reference Bill Gates, Steve Jobs and Richard Branson.
Take a moment to consider how many kids kicking a ball in your local park have dreams of emulating Ronaldo or Messi. What percentage of those kids achieve that level of attainment?
That does not mean that they cannot have a good career, even if they are playing in the lower leagues but even so, people playing at that level are exceptionally talented compared to the average person kicking a ball in the park.
Some people can afford to fail?
Some people are in a fortunate position where they can afford for a project to go wrong and if it does, they either throw more money at it to bring them over the line or they write it off.
Your average person can’t afford for things to go wrong and it can have a devastating and permanent impact on their physical and mental health. It can also impact those close to them, especially if they have families.
If you still think it is a good idea…
Start using the free edition of the Rhino App from day one. Rhino will help you to maximise business opportunities , it will minimise admin and paperwork but most importantly, it will help you to stay in touch with reality.