As with all decisions in life, some reasons are more sensible than others. The ones that I am going to present you seem reasonable to me, but just in case I will also comment on reasons that are not so many.
1. Live from your passion
If until now the jobs you have had have not got you passionate enough, starting a business in an area that you like a lot can be a powerful motivation to undertake. Passion is not enough, because you also need experience in the sector. But it allows you to enjoy your work every day , and since our work activity occupies most of our days, it is appreciated. As a wise man said: if you like what you do, you will no longer work.
2. Be your own boss
Be careful not to get confused. If you think that by setting up a company you are going to stop being accountable, you are very wrong. Your clients are going to be as demanding or more demanding than the bosses you have had so far. However, when undertaking you are your own boss to the extent that you are the last person in charge, you make your decisions and organize the work as best you please. It is one of the best reasons to undertake, all the people who have their own business will tell you, or almost all.
3. Overcome challenges
Entrepreneurship is a much more uncertain activity than having a salaried job. You do not know what you are going to earn next month, nor do you know if what you are doing now is going to work for you or not. The client is not a boss who tells you what you do well or badly, he only buys from you or not, and you have to understand why. You have to risk , make decisions, and rectify. In other words, you need to overcome challenges. Depending on your personality, it can be a reason not to consider starting a business or a great motivation to do so. I assure you that the achievements you achieve on your own are much more satisfying than the pat on the back by your boss.
4. Learn a lot
By starting a business, you force yourself to learn things you never would have imagined. On the one hand, you have to take care of almost everything , from the most anodyne logistical aspects to the big business decisions. You learn about human resources, negotiating with suppliers, tax, legal, accounting, etc. And of course if you want to succeed you will have to discover the secrets to be successful in your sector or market niche. So if you like to learn new things, here are some of the best reasons to start a business.
5. Every day is different
Unlike a salaried job, where tasks are usually quite stable, and often monotonous, as an entrepreneur you will have to do everything. In addition, you will always have to adapt to market developments. In the first phase, you will try various strategies until you find positive results. I mean getting sales and having satisfied customers. Later, as the habits of your consumers would change and your competitors will take action, you will have to change again, and so on. It is very difficult to get bored.
6. It can be very profitable
It may surprise you to see how I mention the economic reason so low in the article. For most people the main reason to start a business is to make money. I cannot deny that it is important (even essential) that the business is profitable, but in my opinion making money is not such an important motivation to undertake. Mainly because the income comes when you are passionate, work and correct , that is, after a lot of effort and struggle. Starting a business thinking too much about making money is usually counterproductive because it makes you make short-term decisions, instead of establishing your project. Even so, getting rich is one of the main reasons to undertake and it had to be highlighted.
7. It allows you to meet many interesting people
If you want to have a minimal chance of success you are going to have to move and make contacts. Some salaried jobs also allow you to see many people (especially in the commercial area), but when you start you get to know very different and in many cases very interesting individuals. They are not only your customers, but also your suppliers, your competitors, entrepreneurs from other sectors, people from public administrations, etc.
8. Creativity to power
Do you feel like you are wasting your creativity in your current job? If you undertake, you will have no limits in this regard, or rather, it will be you who will set the limits to your innovation. As I said before, until you get what the client likes you will have to try many strategies, which will depend on your imagination. Since you will never have a perfect answer to your clients’ needs, you can always be more creative. In addition, you can orient your business towards sides that require more creativity on your part.
9. Administrative barriers are not so great
Compared with the challenge of convincing a client to buy your value proposition , the administrative obstacles that there are to start a business in Spain are nothing. It is true that things could be much simpler , and above all cheaper, but deep down, administrative barriers are not a compelling reason to stop entrepreneurship.
10. Crises can be opportunities
I do not want to minimize the impact of the crisis, especially on the reduction of the domestic market and the difficulties in finding financing. However, there are opportunities to start a business in a time like the one we have recently lived through, and which is still partially noticeable. Customers are willing to try new alternatives (especially if they are cheaper), there is a lot of skilled labor available, you can buy a lot of second-hand things at a good price, and many other reasons.
Wrong reasons to undertake
In closing, I would like to list some reasons that do not seem very accurate to me.
- Create your own work when you can’t find one . Undertaking from unemployment is a totally valid option, as long as it is not a decision dictated solely by necessity. Unfortunately, in recent times there have been many people who used their last savings to start a business without having a vocation or interest. They did it because they saw no alternative, but in my opinion it was too risky a strategy.
- Being bored at work or getting on badly with colleagues and needing a change . It is one thing to start from motivation, that is, to turn your passion into your business project. Another very different is to undertake as a reaction to personal or professional dissatisfaction. Don’t start just because you don’t like your boss . If you reason by discards you are not going anywhere.
- Become rich . Obviously, you are not going to undertake for not making a living, but do not believe that most entrepreneurs reach wealth. In general, small business owners end up having income very similar to that of salaried employees. Some are doing poorly, others are doing very well, but very few get very rich. Your main financial motivation should be to be able to live off your passion, not to be the new Zuckerberg .
With this article I have almost finished the guide to starting a business. The conclusion will be an article called: “You have started your business, now what?”.