Starting your own business is a dream for many people and, even in the current economic climate, research cited by The Telegraph Online in this article suggests that the number of under-35s starting businesses has increased by more than 70% since 2006.
So, what are the main reasons for starting your own business? We delve into a few of them below.
1. To be in complete control of your vision and goals
When working for an established business, there’s a certain status quo that employees are expected to fall into line with – a wider vision of the leaders of the company and a pre-existing culture of ‘this is how things are done around here’.
Starting your own business puts you in complete control of the direction you take the company in. From ambitions that your business should give a split of profits back to the community, to ensuring the types of clients you want to work with fit with your greater vision, the ball is truly in your court.
2. It’s satisfying
Achieving goals within someone else’s organisation can certainly bring its own satisfaction and pride in a job well done, but there’s no greater buzz than overcoming challenges and reaching milestones in your own business. Your first happy client or product supply deal, the first time you win a big contract – each achievement is a result of your hard work, dedication and perseverance.
3. To overcome ‘the fear’
In the words of motivational speaker Les Brown: “Fear kills dreams, fear kills hope, fear can hold you back from doing something that you know within yourself that you are capable of doing”.
Often, fear is all that holds someone back from starting their own business. Overcoming that fear takes courage and faith that you can make it a success. Even if you don’t make it a success, overcoming ‘the fear’ is liberating and will stand you in good stead to push on even in the face of failures along the way.
4. To provide jobs for others
Starting your own business gives you the opportunity to provide jobs for others, directly influencing a reduction in unemployment figures – no matter how small your impact.
Owning your own business also means you have complete control over the type of people you get to work with, rather than being thrown into a team of personalities that may not necessarily complement your style of working.
5. To feel motivated again
It’s an unfortunate fact of life that work, for many, is something they do to make ends meet, while allowing them to do the things they enjoy in their downtime. While this is a common sentiment of people across the nation, it can cause motivation, excitement and passion to dwindle.
Starting your own business can invigorate and empower you, bringing back the motivation that you may have lost a little throughout your career.
6. To allow your creativity to run free
If you work in a great organisation, they will give you opportunities to let your creativity flourish, developing ideas that influence the future direction of the company. This isn’t always a reality for many people, so starting your own business gives you the opportunity to do just that. Being creative in business will also differentiate you from the competition, as new ideas or different ways of thinking give your company a unique selling point and that can be priceless.
7. To decide on your own work hours
Working for yourself is hard work – especially during the early days, but it also allows you to be flexible with your time. Starting your own business means you can dictate your own work hours to fit your lifestyle. Obviously you need to work hard, so slacking off until 4pm isn't an option, but adding in a little flexibility to your working day can have great impact on your life as a whole.
8. To meet new people
When you start your own business, it’s important to get yourself out there and meet people in your industry, entertain potential customers and build a name for yourself.
Networking will likely form a regular part of your working week bringing with it the excitement of meeting new people and building relationships that will support your business success.
9. It’s easier than you think
There is a huge amount of help available to aid entrepreneurs. The most important thing is taking the first step and putting together a solid business plan. Go for it – you’ll surprise yourself at how quickly the momentum starts to build – and before you know it you could have a fully-fledged business of your own.
Have you recently launched your own business? Tweet us @Flexioffices with your success stories so far, no matter how small, we’d love to hear from you.