Why Should I Start a Business?

If you have ever competed in any major competition, you have likely thought right before you started, “Why did I sign up for this, and what am I doing with my life?” Time, effort, sacrifices of many kinds, and perhaps even money are all resources invested to start and finish an event. The commitment was there, and rightfully so. Should that not be the same mindset regarding a business? When you think about why to start a business, is the "why" bigger than yourself? If not, it doesn’t mean the business model will fail; we’re just here to challenge you to think bigger than yourself. Businesses should be solutions to problems. They should be assets to the community. Now, we understand that you still want to generate revenue, since it is a business, we get that! Before that though, we want you to build on the right foundation.

One major benefit of starting a business while still having a W-2 job is that the pressure of immediate income can be alleviated. Would it be convenient to start earning right away? Of course. Yet one thing we have witnessed is that some people decide not to start a business due to the false notion that if they don’t make money right away, the product or service is of no value. That may be a misconception. Why start? Because it will give you an opportunity to test a proof of concept, quality, and/or marketability. Some would advise treating “the thing” as a hobby and not worrying about making it a legal entity until you start seeing real money. What is “real money” anyway? The problem here is that if you see it as a hobby and treat it as such, then what is it? Need we say more? Position yourself correctly the first time. Don’t believe the lie that because you are only giving it a certain amount of time in the beginning justifies not taking the necessary steps to legalize it. It’s much safer to be prepared for a legitimate business opportunity before it arises. Maintain a posture of expectancy because you know you are worth it when the opportunity arises. In the meantime, you can test the concept, gain feedback from others, hone in on your business’s target market, or test out a few if you so choose. You have time on your side and a consistent income, so there’s no need to rush the process.

Lastly, we understand that others will be in different seasons of life, and starting a business will not look the same for a twenty-five-year-old versus a forty-five-year-old. If you are established with responsibilities such as a family, career, or commitments to the community and/or your church, it is not feasible—dare we say wise—to neglect the most important priorities for something that is not guaranteed to succeed. Even then, at what cost? Why start? Because you can honor your family, career, and prior obligations while still pursuing your passion(s) in business. You just need to be wise about it. Want to know how? Read the next post.