I am constantly surprised by the number of people who feel that they are stuck in their jobs and who wish that they could branch out on their own and start a company. If you are wondering “should I start a business?”, let me give you the 5 reasons why I think you should start a business.
Reason 1: Enjoy what you do. If you’re thinking “should I start a business?” then chances are that you’re not happy with what you are doing right now. It might not be the industry, it could just be that you’re working for a boss you don’t like or you’re selling something you don’t believe in. Your own business allows you to wake up happy.
Reason 2: Build an asset. Today’s economy has punched holes in the value of our retirement portfolios and our homes – which are often the two biggest assets that people have. If you were hoping to retire but now that seems like a much more distant possibility, a small business can help you to put some money in the bank and retire. I’m not promising a “get rich quick” scheme here; but careful building of a business can make retirement a possibility again.
Reason 3: Something to pass one. If you have children, you probably want to give them a bright future. A small business can do this. You can create something that you can pass on to them so that they will have no financial cares. It’s a way to provide for your family long after you’re gone.
Reason 4: Take control of your future. When you work for someone else, you are in their control. You work hard and compete with others for a promotion and to put some money aside for your retirement. Chances are, you have to until 60, 65, or 70 before you have barely enough to retire! A small business can change that by helping you to build up your networth now.
Reason 5: Take control of your present. When you work for someone else, you are in their control. If they say come in at 9 in the morning, you need to wake up early, fight traffic, and show up on time, only to put up with grumpy coworkers. And you need to do this for the next 3 or 4 decades of your working life! Instead, take control and be your own boss.
When you look at these five reasons, the choice is clear. When I asked myself, “should I start a business?’ these were my answers and I’m so glad I made the decision!