Ten Reasons You Should Start Your Own Business

1. Be Your Own Boss How many of you like your boss? Someone said, “People don’t leave companies, they leave their bosses.” If that is true, then the first good reason to start up is to become your own boss. You don’t have to work under someone. You don’t have to compromise on your innovative idea which you could not implement because your boss did not like. Be a part of your own dream.   If you don’t work for your dreams, then someone else will make you work for theirs – Tony Gaskins

2. Create Value for Society Are you someone who dreams to change the world one day? Do you want to become the next Mark Zuckerberg, Bill Gates or Steve Jobs? You can not do this while still in that  job that you do not like. If you want to create something valuable for society, then start your own thing. Take the opportunity to transform the lives of millions of people. See what Flipkart did with e-commerce in India, and Paytm with online payments.

3. Explore Yourself Entrepreneurship is a journey of self-exploration. You may find your real self after working on something you love. Discover your passions; find one thing that you can work at without looking at the clock. Find something you are willing to work on even if you are not paid for that. You will feel relief. You may find God in that work. It is nirvana for entrepreneurs.

4. Do Things You are Not Qualified For No one will give you a chance to go into marketing if you are a developer in your company. No one will let you talk sales if you are running operations. You will not be able to contribute to product design if you are doing marketing. Starting up will give you the opportunity to do all sorts of odd things in which you do not hold any degree. I am an engineer by qualification. I worked for an IT company as software developer for years. But today… … I am a writer without a degree in either literature or journalism. I am a digital marketer without an MBA in marketing. I advise people on managing personal finances without having any qualification in finance.

5. Be a Job Creator You will touch human lives in many ways. You will create jobs for your country. Just imagine if 1000 companies starts in a year and employ 5 people on average. The total number of jobs created is 5000. Assume 90% companies fail in the first year and only 100 survive. These 100 companies will grow and employ 50 people – total jobs are again 5000. Then why remain a job seeker? Become a job provider!

6. Become More Productive Your productivity will improve because it is your company, and you have a personal stake in it. When I was doing my corporate job I was working for about 9 hours but only 2-3 hours productively. Even now I work for 9 hours but with a productive period of 6-7 hours. “You are where you are and what you are because of yourself, nothing else. Nature is neutral. Nature doesn’t care. If you do what other successful people do, you will enjoy the same results and rewards that they do. And if you don’t, you won’t.” ― Brian Tracy, Focal Point

7. Mentorship You will find very good mentors while working on your start-up. You will have the opportunity to be a mentor as well. You will share your success and failure experiences with others as you grow, and thus ensure their growth too. You will feel good when someone comes to you for help, another way to help human kind.

8. Networking with Successful People “You are the average of the five people you spend the most time with” – Jim Rohn You will meet new people every day. You will work with amazing people in your industry. You will meet successful entrepreneurs at networking events. You will build relationships with some of the most interesting people on the world.

9. Financial Independence If you are very lucky then your start-up will take off. You will make a lot of money which you could have never imagined in your job. You will be free to pursue your dreams, whether it is travel, owning a big home, or owning sports cars and bikes. You won’t have to wait for salary credit message on the 1st of every month.

10. Heads you Win, Tails You Won’t Lose Much Once you start a company which becomes successful, you will get everything you wanted in life. Unfortunately, more than 90% of companies fail, but you will learn so much in your start-up career that any other start-up will gladly accept you as part of their journey. Your start-up learnings may not be useful for a corporate job, but it will be an asset for another start-up.

ADVANTAGES OF BEING AN ENTREPRENEUR You are your own boss Own a business of your own choosing $ Profits $ are all yours – could be large! Make all of your own decisions The freedom to run a business as you wish Unlimited challenges Adhere to your own work ethic (time & effort) Personally rewarding feeling of accomplishment Variety of tasks every day – not boring Hire whom you want as employees Aid your community

DISADVANTAGES OF BEING AN ENTREPRENEUR Hard to get business off the ground A super effort is required to be successful Large chance of failure If the business fails it is your fault Very expensive to launch a new business Large financial risks Unlimited liability (risk your personal possessions ) A lot of responsibility and stress You have to deal personally with all the problems Many tasks to complete – overworked Work 24/7 with no down time – limited time for family and friends