Things to ask before starting our business
There may be any number of motivations for a person starting a business.
What is ours? Knowing this at the onset can help us plan better to meet these goals and aspirations but also to see how they change as we get more deeply involved in our new start-up.
Some motivations may be:
- Sense of ownership
- Supplemental income
- Meeting our Passion
- A second career
- Desire for a challenge
- Absolute necessity (no employment available)
- Personal freedom and control
- Increased financial security
After identifying our motivations for starting a business it may also be beneficial to consider the following:
- Is our motivation compelling enough to see it through?
- What are the short, medium and long term impacts going to be?
- How will this affect our family and other aspects of our life?
- Does this need to be full-time or part-time and do we have the time?
- What are our earning aspirations?
- Is our idea really worth it?
Thinking through all of these aspects, before we begin, may help you to clarify our path and identify potential pitfalls.
These aspirations and questions should be reviewed regularly and adjustments made if we see we are veering off course or our aspirations were unrealistic to begin with.
For me, it was just because I really value working for myself, and couldn't see myself working for anyone else.
It's funny, because my mom worries about me, as parents do, and sometimes when I'm stressed, she'll ask, "Wouldn't you be happier if you just got a job?"
And the answer is no.
I might work long hours, but I was already doing 60-80 hour weeks when I worked for someone else... at least this way it's to build MY business, not someone else's.
Is the pay sometimes irregular? Yeah, sure it is, but at least when I have a good month it's my reward for putting in hard work and long hours... and when the bank account is a bit light, that's a product of my own efforts, too. Contrast that against my friends who work in mining, who lose their jobs every few years when the price of gold or iron ore tanks.
Meanwhile, if I feel like knocking off work early, at 2 in the afternoon, and going to the beach, I can do that, too.
In fact, I did that just the other day
I may go back to working for someone else one day, but it will have to be the right role, at the right company. For now, I'm just enjoying growing my businesses.
"Some motivations may be:"
well said "some"; but I believe some of these alone, can be very dangerous! for example if someone starts his/her own business JUST bcuz of "Sense of ownership" or "Personal freedom and control", a failure is probably in the corner.
I have written this on wealthy people mindset, how they spend their wealth to be more wealthy:
https://steemit.com/business/@honarparvar/how-the-wealth-changes-in-generations
Passion - that's the key. What makes your blood boil? What makes you swoon? What will get you humming?
Your boat WILL be rocked, so you better know where you're going, and you better head to either waters you like, or waters you know and are profitable.
Above all, BE GOOD. People will upvote you for it.
And jump on now, while you can: THIS SHIP IS SAILING!
I need to bookmark this page. It worth reviewing every morning.
For me the main reason would be personal freedom and control because my future wouldn't be so dependent of other people decisions.
Great post @sme
I think it's also important as someone considering starting your own venture to clearly define your purpose and then outline how long you'll let it run if it's not achieving this purpose consistently...
Another very informative post. For me the key is the review process. Without the regular reviews you describe it is easy drift off course or lose sight of your purpose.
This is a distilled method of assessing your potentials for entrepreneurship. Good job.
I like business ..
Stigmatatata from Lake Titicaca!
Senor Beavis, donde esta hall pass?
Business is good for the prosperity of the country and for owner. The idea in the article is very nice and valuable .its great help for the steemit community. I love business. Thanks for posting such an informative post.