You've likely dreamed about a time when being your boss could really make sense. Or maybe you've just had an entrepreneurial idea burning in your heart.
Well, as the economy drives back into action—with more resources, funding options, an increasing consumer demand and an eager workforce—there’s never been a better time.
Optimism among small business owners is increasing dramatically, reaching 98.1 in December 2014, the highest reading since February 2007, according to the National Federation of Independent Business.
But then it happens. Fear creeps into your mind. It whispers three things that kill your dreams. Every. Single. Year.
- I don't know how
- I don't have enough money
- I don't have the time
These excuses have become the culprits of an average, mediocre, and dissatisfying life since the beginning of time. But I'm here to rescue you. To battle these horrible dream-killers and show you the seven great reasons that starting your own business is not nearly as scary or difficult as you might believe.
7. Increase Your Variety & Kill Your Boring Life
People crave variety. There is nothing natural or exciting about sitting behind a desk for 20, 30, or 40 years of your life. Uggh. I just cringe for those of you who do this...
Being an entrepreneur allows you to wear many different hats. You get to become an accountant, marketer, manager, writer, pitcher, designer, and researcher, etc. You have the freedom and opportunity to master new skills and become more mature in strange areas of life. But again, the fear creeps in, "I don't know how to be an accountant..." (deep, mopey voice). I'll speak to knowing how, below.
6. Knowing How To Start, Is Crazy Easy Now
If we lived in 1884 with no internet and limited access to books, I might agree with your argument here. But not knowing how, is more often a different way of saying, "I'm just lazy." There are literally thousands of books and courses you can take to learn how to start your own business.
For example, here at StartupCamp.com (the site you're on), we offer an incredible 12-month educational membership that's helping thousands of entrepreneurs, prepare their idea, launch their business (within 5 months), and grow their dream to provide for their lifestyle by the end of the program. I've provided a short video below to explain fully.
5. Your Job Is NOT As Secure As You Think
Have you ever been laid off, demoted, or fired? If you have, you get this. With entrepreneurship, the security lies in the fact you are your boss. You run the show and don't have to worry about the day someone better comes to replace you. And remember, if you have the entrepreneurial itch, you will never be truly happy working for someone else.
4. You Can Start Most Companies For Under $2,000
Startup costs also are lower today than ever before. “What an incredible time to start a business! The barriers to entry are slim, and costs are minimal,” says Diana Kander, entrepreneur-in-residence at the Ewing Marion Kauffman Foundation. “Now just a few dollars can get you started immediately.”
Furthermore, starting your own business is becoming a much better solution than getting a degree. I find it insane that people will take $100,000 in college debt, but they won't take a $2,000 loan to start their own business.
Andrew J. Sherman, who teaches entrepreneurship and business at the University of Maryland says, “Most people can start their business today that would have never been possible 15 years ago,” thanks to advances such as smartphones, the web and social media, which have “really leveled the playing field,” “I’ve been at this for 30 years. I have seen startup costs go down each year. In the late ’90s, I remember seeing job quotes being submitted by companies for $5 million to $7 million just to have a website built.”
In my experience, starting a business only requires a few hard expenses: Some basic legal (which can be completed on LegalZoom.com), a small budget for graphic design (maybe $250), a basic website ($500-1,000), and possibly a first batch of some hard goods ($500).
Furthermore, the vast amount of freelancers has made it much cheaper to get off the ground. You no longer have to hire 2-3 employees to launch the operations.
Here's a book by my friend Chris Guillebeau titled "The $100 Startup" that might help you on your journey.
3. Good Business Ideas Are Everywhere
The truth is that 99 percent of businesses are old ideas that people make just a little better. We don't need to pound our minds for the few items or tech or apps that people have yet to experience. Rather, we should scratch our own itch. Create better solutions to the problems in our everyday lives.
Take Nest for example, they took the boring thermostat and fire alarm in your home and reinvented it into a beautiful piece of art. And they only sold for a measly $3.2 billion to Google. No big deal.
2. Make Your Own Hours & Be Human Again
I'm not sure we were created to wake up, hop in a car for an arduous commute, sit a desk until lunch, return to your desk until 5 pm, hop back in our shaggin' wagon, and be home for dinner. No.
Life is more fluid than this. We need freedom to be with our families, take care of our children, take spontaneous trips to a National Park, get stuck in a movie on Netflix at 2:43 pm, work until 3 am, sleep in when you need it and have room to be a good parent, spouse, and friend.
Starting your own business will allow this. Sure, you will still work 40-50 hours per week, but it will be on your schedule. This is how life was meant to be. Don't get stuck in the mundane consistency of a repetitive work life. What a waste that would be.
1. Generate As Much Wealth As You're Willing To Work For
Let’s be honest; this is probably the biggest reason people get into business for themselves. And that’s a good thing! You should want financial independence. However you define it – retirement stockpile, travel like a maniac, unlimited cash potential, no debt, being able to not think twice when asked if you want guacamole, or just having the money to buy what you want -- entrepreneurship can allow you to achieve it.
And while it might not happen overnight, it will happen. Take my story for example; in 2003 I made $2,000/m owning my own business, in 2006 I made $4,500/m, in 2010 I made $12,000/m and in 2015 I make approximately $45,000/m. I have no debt, I own my home, and I don't turn 30 until this coming April.
But the best part is you're never limited. You can make as much as you can with the time you have. You don't have to rely on impressing anyone to get a raise, you don't have to answer to a boss on how you do it, and you don't have to put your dreams on the back burner until you retire.
And if one thing still reigns true, it's that money doesn’t buy happiness, but it does make finding happiness much easier.
So what's holding you back? We'd love to have you in the StartupCamp.com community. If you have any questions on our educational memberships or just want to share your dream, you can email us here at firstname.lastname@example.org