Business Management

Starting a Business

Thousands of businesses are started every year, some with success, some fail. There are many reasons for starting your own business and this first of two articles will provide some thoughts for the basis of launching on your own.

1.     You Control Your Own Destiny

If your style is to want control and to make the decisions owning a business saves you from working for someone else. You get to steer the ship and direct the culture and style of the business. This can be overwhelming and it is best to know when and how to delegate. Owners should focus on the big picture and strategies for growth.

2.     You control your work/personal life balance

This is a primary reason people want their own business. It allows the opportunity to set one’s own hours, dress code, and sit next to your dog if that’s what you want. Setting priorities is the key. Setting your schedule and spending time in ways that satisfy personal needs. As long as the degree of success supports the lifestyle needs you can be very satisfied. 

3.     You choose the staff you work with

When you are an employee you don’t get to choose whom you work with. If you don’t like or get along with co-workers, you start another job search. Owning your own business allows you to choose the employees are. You can surround yourself with people who share your values and work ethic. 

4.     Risk-Rewards

Owning a business can be a risky proposition but with risk may come rewards. The better you manage and eliminate risk the greater the potential for rewards. Learning the “business game” managing variables, recognizing opportunities and avoiding mistakes are steps that can challenge you but winning the game offers the rewards from which you will reap great satisfaction. 

5.     Set your challenges

While some individuals thrive on routine, business owners have a continuous opportunity to challenge themselves and create new experience almost daily. New learning experiences occur daily in areas of sales, manufacturing, service, taxes and other areas involved in running the business. These all add up to more experience and satisfaction in operating the business.

More ideas on why individuals start up on their own in the next blog………..stay tuned…