167: Why You Should Start a Business
When it comes to launching a new business, most people don’t think you’re going to succeed. Why? Because they don’t think you can go through with your plan. And you know what sucks even more? They end up being right most of the time. Most people thinking about starting a business, for whatever reason, never truly start. I know for a fact that most of these people don’t have a reason for starting. The prospect can seem scary, so the ‘safest’ option is to daydream about it, imagining yourself as ambitious as Jack Ma or as creative as Walt Disney. But here’s the thing, in the future, you’ll dominate your space. Today you may be a little too nervous about quitting your job. But the truth is, your future self needs you now more than ever. So get up and take that first step.
Why you Should Start Your Business – 01:08
I know you’ve heard me talk about entrepreneurship millions of times, and I may mention its benefits another million times throughout my life. But I just realized something interesting; I’ve never really talked about why you need to take up entrepreneurship. You might know its perks, but most of you don’t have a reason for starting a business. I know I didn’t; even though my mother had a business, I was naive at best. To me, running a business required an MBA, having a brilliant idea, and knowing how to sell. I didn’t know how to sell, so I never bothered learning the ins and outs of running a business.
But here’s the thing, if I knew what I know today about entrepreneurship, trust me, I would have started my business a long time ago. Why? Because running a business has changed my life, to say the least. I can do whatever I want, take the business in whichever direction I choose, and take the day off if I so please. Moreover, I now have control over important things like the people that work for me to the minor details like the color of my products.
Economic Empowerment – 04:40
What’s your definition of job security? Is it the guaranteed pay cheque at the end of every month? Or the fact that your contract was extended for two more years? Still, what do you think would happen if the organization you work for were to be sold or run bankrupt? For the most part, what happens to you is none of their business, even if you spent ten years with them. If you have bills to pay, it won’t matter; they’re only doing what’s best for them.
Further, when most people think about earning more money, they think about having two jobs or taking an extra shift. You see, there’s a common saying that goes, nobody gets to the end of their life and wishes they could have worked more. It just doesn’t happen. If you want to live a more meaningful life while controlling your earning potential, then you better start thinking about the skills you possess that people would be willing to pay for. Now, I wouldn’t say I like talking about my finances, but I will say this, there are several instances where I made more in a week than I did in three months at my highest paying job. That’s entrepreneurship at play.
Unlimited Creative Freedom – 12:09
One of the advantages of business ownership is owning every decision that’s made. For some people, this can be a scary reality and an incredibly rewarding one to others. First, that freedom to make a decision and not be second-guessed is a luxury most employees would kill for. Second, I get to use all my degrees. If you’re employed, you’re only limited to a few specific tasks that the organization hired you for. Once you step out of that ‘box,’ you’re essentially doing somebody else’s work. So, you don’t really have the freedom to take a project in the best direction you deem fit. But when running a business, the opposite happens. If that doesn’t spark your curiosity, I hope the next point will.
Leave your Legacy – 16:46
If you disappeared today, what would people outside your immediate family say about you? We live in a world where everyone can make an impact and be remembered for something. To me, a legacy is benefiting the world around a meaningful cause. It could also be as simple as sharing my life or business lessons with others; it doesn’t matter. I will be at peace knowing that someone somewhere is succeeding because of me. I know I can’t achieve that by working nine to five; that’s why I’m in entrepreneurship. Furthermore, the wealth you build will serve you and your family for years to come if only you do it right.
Leaving your job sounds scary, but you don’t have to take the plunge right away. In fact, most businesses start as side hustles and quickly scale into full-time businesses. Always remember, if I did it, you can do it too.