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10 Good Reasons to Start a Business

“People don’t buy what you do. They buy why you do it.” — Simon Sinek

The breeze of the Covid-19 pandemic unveiled and taught some hard lessons except for the people who don’t want to learn or like to deny reality.  It all started in a province in China and spread to the rest of the world. Most companies are retrenching because there is no revenue. All economical activities were put on hold except for essential workers and some people who can conveniently run business activities from their various homes with an Internet connection. 

It’s clearly written everywhere that almost everybody is in the business including the government. Some countries choose not to distribute relief materials to their citizens because they think doing so will empty their pockets of voluntarily donated funds by some private organizations. So, the government, too, wants to make a profit from the pandemic. Also, the government chose to ease the lockdown because of the fear of a downturn. 

The question now is: if the government can be in business why can’t you start your own business? 

Some people will say they are not business people, and in my opinion,I would say that they don’t truly know who they are. Capitalism is intrinsic to us. Everything we do in life is transactional. If you do me a favour, you will be expecting me to have your back someday or the reward from the Almighty. So, in the real sense: nothing goes for nothing and nothing comes for nothing. 

I have read about people who simply started their businesses by offering to help people and they get paid in return.  

Talking without backing it up with reasons is a pure waste of time and squandering time is an irresponsible act. So let me discuss the reasons why I think you should start your own business. 

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1. Freedom and flexible work schedule:

Being a business owner makes someone become independent and also have some lifestyle flexibility. You have nobody telling you when, where, how to work, or what to work on. If you are the type that hates conforming to rules from bosses, you may consider starting a business. Not that owning a business is easier than being an employee, but it provides you with flexibility and freedom. You can work for hours without noticing because you are working for yourself and the way you run the business is flexible. 

2. Help people and society:

Businesses can bring about development to society and the products and services they provide can help people impressively. Some people want to solve a painful problem, by providing people with clean drinking water, or providing cheap and clean sustainable energy for small businesses. Some entrepreneurs may be motivated to help people by creating jobs for them. 

For example, Mo Ibraheem, the former technical director for British Telecom, in the late 1990s wanted to help people to be able to speak to their loved ones no matter how far they are – this made him start his successful Celtel Telecommunication company.

3. You could lose your job: 

This era has proven to people convincingly that job security only exists on paper. Your company may choose to downsize tomorrow, and if you are found unworthy to keep as an employee, you may be fired. Jobs may not be as safe as you think. Because of the risk of losing your job, you may want to start a business on the side so that you are prepared if it happens, or so that you can quit your job and escape the risk of losing your job.

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4. Being in control of your time:

As a business owner, you have some control over how you spend your time. To run a successful business, you will probably have to do some things you don’t want to or do things on a certain schedule. But at least you have some choices. You may choose to resume late on Monday because of traffic. You are free to work from home. Even, on some days, you may not want to work at all. You are accountable to yourself. Nobody can shout at you because of this. 

5. Earn passive income:

This is one of the reasons why I like business. It offers so many leverage opportunities. If you build your business to the extent that business activities run without your involvement, you can choose to go on vacation for months and earn income while sipping your coffee on the beach of the Bahamas. You won’t have to be conditioned to be anywhere you don’t want to be. 

6. Don’t have a boss – you are your own boss:

You are not being instructed what to do, except maybe your customers or investors, but not always. You have a choice to listen to them. 

7. Make money:

Starting a business can certainly be a great opportunity to make money. People start businesses because they want to make a ton of money. Your business can help you to make money by providing you with profits. 

8. Be creative:

Starting and growing a business requires serious creative thinking. Some people use their businesses as a place to showcase their creativity. Creative business owners or leaders exist in the game for a long time. 

9. Retire early: 

Most jobs are more stable and the income is regular but have less upside. For business owners, the upside is unlimited and if you make a lot of money, you can choose to sell your business and retire early. We have read stories of young millionaires who built products and businesses from scratch and sold it to retire and travel around the world. 

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10. Be diversified: 

If you have multiple products or businesses, you won’t have reason to depend on a customer, job, industry, boss, income source, etc. Diversification is a time-proven investment strategy made to lessen risk and increase the chances of winning economically. 

Key Takeaways…

Nothing can offer you lifestyle flexibility like your own business.

The business offers unlimited upsides and limited downsides.

Owning a business makes retiring early possible.

It’s quite easy to change society for the better by creating a product or service. 

You have a choice to listen to whoever deems fit to listen to. 

Business, if built properly, has a great possibility of turning into a cash-dispensing machine. 

Now to you…

Do you know of any other reason why people start a business that’s not listed here? Or do you have any opinion that you will like to air? Please, go ahead by leaving a comment. 

And don’t forget to share this post with your family and friends, because if you find this information useful, it can be helpful for them, too. 

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Usman Atandahttps://starthustlenow.com
My name is Usman Atanda - the man behind StartHustleNow.com. I'm a serial hustler from Lagos, Nigeria. Here at StartHustleNow.com, I cover topics such as Business Ideas, Side Hustle Tips, Business Tips, Side Hustle Ideas and much more. My ultimate goal is to make the building legitimate and lucrative small businesses and side hustle to be achievable.
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