Each day you go to work. You get up, get dressed, and fight the morning traffic to tackle the stressors of working your 9 to 5 job. During your monotonous journey each day, have you ever wondered what your life would be like if you owned your own business? Well, if you’re like most people, you probably have. You imagined yourself being much happier, more productive, and more motivated because you’re working a job that you actually care about, right? Of course.
The sad part about that scenario is that it’s the reality for so many people in America. According to Forbes, more than half of Americans are unhappy in their jobs. The reasons vary from person to person. For lots of people, the reason is that they’re underpaid and don’t feel valued. For others, they are overworked and don’t have a good work-life balance.
The article further stated that for those reasons, employees continue to work in their unhappy positions but are continuously looking for other employment opportunities. Can you guess what one of those other employment opportunities are? If you guessed entrepreneurship, then you guessed correctly. When people are unhappy at their current positions, one of the biggest solutions that pop into their heads is starting their own business.
Now, unhappiness isn’t the only reason why people start their own businesses. In fact, people start their own business for numerous reasons… some of the reasons are quite noble. If the thought of starting your own business has come across your mind, that’s great! You should go for it! But before you hit the ground running, it’s important that you know the reality of it all.
Realities of Starting Your Own Business
The reality of starting your business is that it’s not going to be easy. You have to hire the right employees, you have to find funding, and you have to find the right business insurance to protect your business… and that’s just a small portion of all the things you’ll need to get your business off the ground.
It’s also important that you understand that your success isn’t going to happen by accident and it’s certainly not going to happen overnight but it’s no reason to not pursue your entrepreneurial dreams. You just have to be patient and be all-in. There’s really no right or wrong reason to want to start your own business but here are the top five reasons why people do decide to start their own business.
1. There’s a High Demand for the Product or Service You’re Selling
It’s one thing to have a great idea for a certain product or service but the real question is whether or not there’s a true need for it in the market. If you have a great idea for a product or service and you’ve conducted market research and found that there indeed is a need for it in the market, then you have a great shot at making money!
2. You Don’t Want a Cap on Your Income
With most 9 to 5 jobs, there is almost always a cap or “glass ceiling,” meaning that once you hit a certain dollar amount in your salary, you can’t make any more than that. Just imagine being with a company for 10 years and you’re coming up on your 11 year anniversary, expecting your annual raise, and they tell you they can’t pay you anything higher than what you’re already making… imagine how frustrating that would be.
People have actually left jobs over issues like that. You might be working for a company that has that same guideline… When you own your own business, there is no cap to the amount of money you can make.
3. You Want to Give Others Employment Opportunities
Sometimes helping others is much more rewarding than the financial success of owning your own business. The fact that you can start a business and contribute to your city or town’s unemployment rate is definitely something to be proud of. By creating jobs for others, you’re also contributing to their success as an employee. Growth is one of the biggest factors that attract people to jobs.
4. You Need More Flexibility in Your Life
With typical 9 to 5 jobs, you’re more than likely following a set schedule that’s probable Monday through Friday. With schedules like that, they don’t leave much room for you to handle the things you need during normal business hours like going to doctor and dentist appointments without scheduling time off for it… If you own your own business, you would have the flexibility to do the things you need to do at your own convenience.
5. You’re Unhappy at Your Current Job
Last and certainly not least, being unhappy at your current job is all the more reason to look into starting your own business. Life is too short to be anything but happy and you don’t want to look back on your working days and wish you had taken the plunge long before you actually did. There are so many entrepreneurial opportunities that there’s no reason why you can’t experience the same happiness that other entrepreneurs experience… you just have to be willing to leave that steady income and be all-in for your business.