• Dougherty Faber posted an update 1 year, 6 months ago

    The world’s connectivity has created millions of possibilities for entrepreneurs to start small businesses. There are numerous sources of information available online. In addition, the internet has enabled business owners to network with their peers, gain from their mistakes and take their best decisions to guide their own paths.

    If working a 9-5 job isn’t for you Maybe it’s the time to climb your own ladder, establish your own pace to suit you, and leave your mark on the world. Here are seven reasons to start your own business now if you are a creative person or have a passion.

    You’re sure to be able to do it better

    For a start-up that succeeds it is not necessary to create a new idea. Pizza delivery was a common procedure long before Tom Monaghan, founder of Domino’s Pizza, made the commitment to deliver pizza to customers within thirty minutes or less.

    You’d like to make a difference

    Social entrepreneurialism is growing, and it’s not just for nonprofits. Are there causes that matter to you? Start a business to tackle a few of those issues, or give part of the profits or sales or even products to support an important cause.

    Set an example for others to follow.

    In a recent study, 33% of women who are small business owners stated that they had started an enterprise to influence others to be more like them. Women of color were even more committed to this 39 percent said that’s why they became entrepreneurs. In addition the Elevating Female Entrepreneurs survey from OnePoll as well as Office Depot shows 82% of these women wanted to be successful to show other women that “it’s possible to get past stigmas.”

    Accomplishing monetary independence/Building riches

    “Becoming rich” shouldn’t be the primary motive behind starting a business. There are plenty of opportunities to earn money that do not require you to work as hard and take as many risks as business ownership requires.

    But, what google did to me to take care of your family and live an improved lifestyle is an effective motivational factor. Chances are, you will eventually earn more when you run your own business than you would as an employee. But understand that before you get “there,” you may experience some lean times.

    It’s a huge financial commitment to establish an enterprise. Be sure to have enough operating capital and at minimum six months’ worth of living expenses in reserve before you start.

    When you start a business it also creates a legacy. The more profitable your business grows more of an benefit it is for you and your family. According to the U.S. Census Bureau, 90% of all North American businesses are family-owned. This is 35 percent of Fortune 500 companies.

    Are you not yet ready to begin your own business?

    Start working on your idea even if you’re still not sure. Avail many resources, including financing, technology, and details for entrepreneurs looking to start their own business. Get free advice from your SCORE or Small Business Development Center.

    5 tips to boost your company

    Although financing small businesses can be difficult, technology has made it simpler.

    Here are five ways to start:

    Find a low-investment business to start.

    If possible, continue working and begin working part-time in order to try out your idea and develop your business.

    Do not immediately employ employees. If you require help outsource it to freelancers or independent contractors.

    Work from home, based on your business, of course. Start from home and save lots of cash.

    Pay attention to your cash flow.

    There are many reasons to start a business. You, no doubt, have your own. Whatever your motivation, expect to work hard and most likely rewarding.