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It’s true! Owning and running your own business has many advantages. But the high failure rate statistics tell you it is not all a bed of roses.
So, let’s start at the beginning… Why do people start their own business? Why did you start your own business?
I have worked with thousands of self-employed small business owners over the years and have my opinions. But rather than inflict my opinions upon you, I thought I would see what Google disclosed. I found this when I googled ‘why do people start a business’.
The top result was an article called ’50 Reasons to Start Your Own Business’ from entrepreneur.com. I am not going to give you all 50 here. If you are interested you can go to https://www.entrepreneur.com/article/243145 and read it for yourself. Needless to say, the list contains 50 positive reasons selling you on the idea of starting your own business.
There was a similar article called ‘21 Reasons to Start a Business Today’ at https://foundr.com/21-reasons-to-start-a-business-today
Once again, they are all benevolent, ‘feel good’ reasons why you should start a business. Here is the list:
Yet another article was titled ‘The 4 reasons why people start their own businesses” (https://www.bizjournals.com/bizjournals/how-to/growth-strategies/2014/11/4-reasons-why-people-start-their-own-businesses.html)
This article allocates each of the reasons into a category of person. They list:
On quora.com, I also found a page that asked the question about why people start small businesses. (https://www.quora.com/Why-do-people-start-small-businesses)
A couple of business coaches provided some enlightening answers:
For instance, Kathy Brunner, Business and Career Coach said:
“I think there are FIVE big reasons people start their own business:
There are no doubt many other reasons. Most people simply realize exchanging hours for dollars is limited. Starting your own business means you can work as much or little as you like and there is no limit to what you can earn.”
Jeff Schuster, Business Coach also said:
“They are sadists 🙂
Most people start a small business for one of five reasons:
Sadly, most who think they can get away from a boss disciplining them at work; find they need to develop self-discipline or they will go broke.”
In addition to these reasons (and some others), I think that some people have self-employment thrust upon them, as some ‘larger’ business require their workers to be sub-contractors to avoid the extra responsibilities, liabilities and costs that come with employing people.
Let’s go back to category 4 in the bizjournals.com article, namely – ‘Struggling survivor’.
I don’t believe anybody starts a business because of a desire to be a ‘Struggling survivor’.
However, it does become a reality for many self-employed small business owners. And the high failure rate of small businesses is also a catastrophic reality.
That is why we have developed this guide, and this website. Whether you are just beginning or already in the small business trenches, this guide is meant specifically for you.
Next, we are going to highlight what it really means to be self-employed and the keys to running your own business. Click here or on the button for the next page.
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