5 Reasons Why You Should Start a BusinessLife Advice•Nov 9, 2021• 3 min read
Small businesses are the key to our economic future. When it comes to starting a business or side hustle, there is no time like the present. Whether you have a desire for a creative outlet, a mission to change the world, a need for supplementary income, or the desire for more flexibility to work from anywhere, you can start a business, become an entrepreneur, and be your own boss.
Here are five compelling reasons why you should start your own business.
1) To have financial freedom.
If you’re in college, have been working for five years, are a stay-at-home mom, or are even a well-established professional in the world, you might have a job — but can it support your lifestyle? Whether you decide to pursue a business full time or just want a side hustle, there is no good reason that you shouldn’t at least consider another independent stream of revenue.
Yes, it’s true, not all businesses make money right away. But for those of you who are ready to jump in and become a student of the world of small business, there are opportunities to earn additional income so that you have more financial freedom and uncapped earnings. So why not give it a shot?
2) To solve a problem and do it better than anyone else.
Whether there is a void in a specific industry, a broken business model, or a product that doesn’t yet exist, you may be able to create something that fulfills an unmet need for consumers. These types of endeavors are usually very successful because businesses that solve a genuine pain point are often able to achieve product-market fit and growth.
After all, if nobody else is doing something, then shouldn’t you fill the gap?
3) To pursue your passion and purpose.
Do you feel like you don’t know what your purpose is yet? Are you still on the journey of self-discovery?
As the world slowed to a stop over the past year, many of us are asking ourselves these questions. Starting a business is one way to get you a step closer to finding your purpose by simply sharing your passion with the world and doing what you love.
Whether you are an at-home pro-baker, a yoga teacher, technology genius, master marketer, or writer extraordinaire, you may possess unique talent to deliver a product or service that people need. By starting a business, you have an opportunity to share your gifts and fulfill your life’s purpose by creating a legacy.
4) To have a flexible work schedule.
Flexibility is a term that resonates with all of us. We can thank the millennial generation who have spearheaded the flexible work movement demanding more control in their schedules. Our traditional work environment isn’t always suited to mothers, either; more than three-quarters of a million mothers dropped out of the workforce during the pandemic due to lack of childcare.
Today, you can work from anywhere with a laptop, and when you are your own boss, you can create your own schedule. Starting your own business may be the perfect avenue to create that work-from-anywhere lifestyle that you need and desire.
5) To give back to the community and make an impact.
Perhaps you want to focus your efforts on social responsibility and build a business based on giving back. Making a difference in the world is always a worthy cause. But, even if your venture is not a charitable one, 53% of people say shopping at a small business gives back to their communities and gives them more purpose in their shopping habits. By simply starting small and creating a product or service available to your community, you can make a positive contribution that goes far beyond yourself.
Is there a risk? Perhaps. But is there a reward? Definitely. You can start BIG, you can start small, but in 2022, we think you should take the leap, invest in yourself, and create something you love. We’re with you. Let’s make 2022 the year of your small business!