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9 Reasons to Start Your Own Business

August 20th, 2008 · 5 Comments

Right now, America’s economy stinks. Jobs are hard to find and the dollar is worth less than your vote. (Kidding! Democracy works… sorta) Now, I could talk about inflation, interest rates, stangnant growth, oil prices or any other number of depressing topics but for this article, I am going to ignore the urge to spew forth gobs of negative speculation and keep things positive.

Now, I am a firm believer that the world isn’t going to end any time soon (not for lack of trying on humanity’s part), and I believe that even in tough times, there is always opportunity. Here are nine reasons why I think you should seize that opportunity and start a business.


9. When you own your own business, you get to make your own luck. Working as a corporate slave, you are only a small cog in a giant machine. No matter how well you do your job and how much value you add to the company, you always have to worry about others who might not be pulling their weight. By running your own company you remove unknown variables from the equation and any successes or failures fall on your shoulders. This responsibility will do wonders for your self worth. Your hard work is almost always rewarded with success, and the power to evaluate and correct any failures you encounter lies in your hands.

8. Running a business can be a tough for people who struggle with time management and productivity, but once you master them, you are rewarded with massive freedom and independence. Like sleeping in and working late? No problem. Don’t feel like wearing a suit and tie to work? Me Neither. When you don’t have a boss, life is good.

7. With new business comes investment and spending, both of which happen to be extremely important driving factors of economic growth. Your new business spends money which in turn helps other businesses, creating jobs and contributing to the greater economic good.

6. Every life experience is an opportunity to learn something new. Starting your own business is always a learning experience no matter if you are a veteran entrepreneur or a fresh faced rookie. Even if the business fails, the lessons you learn along the way will stick with you forever.

5. While it is unlikely that you will start a company and become the next Bill Gates, even a relatively conservative business model requiring very little initial investment can yield substantial financial rewards. Today’s rocky economic landscape might paint a bleaker picture of the American dream, but there is no doubt in my mind that it still exists. The money is out there, and it is up to you to go and get it. Besides, fierce competition and new technology in the personal aviation market means you can get this jet powered Eclipse 500 for only $1.5 million. That’s a bargain.

4. Unless you are a superhuman all knowledgeable multitasking god, you are going to need help running your business. To get people to help you, you are going to have to give them money. Congratulations, you just created jobs. This is good for the economy. Not only do you get the personal satisfaction of knowing that you are helping people, but you get the opportunity to make up for all of your years of corporate abuse by treating your employees like human beings.

3. The economy may be a little slow right now, but in technical terms, starting a business is easier than ever. The massive growth of the Internet and digital communications means that literally anybody can launch a global company.

2. Numerous opportunities exist in emerging markets. If you don’t think that companies making solar panels and windmills are going to make a lot of money in the near future, you need to have your head examined. Same goes for companies that make efficient scooters and motorcycles. I literally could go on all day long talking about markets that should be exploding any second now.

1. When it comes to starting a business, you really have nothing to lose. Cheap dollars make for eager foreign investors hoping to take advantage of skilled labor at a low cost. (What do you think we have been doing in China for the past couple decades). Once you have secured investment, all you have to lose is your time, and even if you fail, your time lost will be worth the lessons learned. As Steve Jobs once said to Wozniak (at least I think he said this) “Even if we fail, we get to tell our grand kids we used to own a company.”

Tags: Liability · Productivity · The Guide · Updates

5 responses so far ↓

  • 1 ROACH // Aug 20, 2008 at 7:33 pm

    I AM GOING TO START WORKING ON A BUSINESS PLAN TONIGHT! THANK YOU.

  • 2 Jim Gaudet // Aug 20, 2008 at 9:03 pm

    I have been running my own consulting company for quite a few years, and I am finally starting some businesses that make a real profit. But, without going on my own in the beginning, I would still be a corporate slave…

    Nice post…

  • 3 Bronson // Aug 21, 2008 at 12:35 pm

    I am still working the 9-5 but managing to handle private work in the evenings - I am working towards the day when my time is my own and my destiny is controlled by MY OWN ACTIONS.

    For some the security of working a 9-5 job can be enough, but I really think that many people are destined for more than that.

  • 4 Jared // Sep 27, 2008 at 2:16 am

    Nice post. There’s no greater feeling then starting your own business.

    I think it’s one of the few things in life where if you succeed you can truly have the feeling of success.

  • 5 Steve // Sep 28, 2008 at 4:25 am

    Can’t agree with you more. We started our business so my wife could stay at home with the kids