3 common reasons people are in business or why they start their business
It’s incredibly important that you understand why you are in business. If you don’t understand why you are in business, it’s hard to know what may motivate you. What will keep you going in the tough times when things get hard?
There are 3 common reasons people are in business or why they start their business. We’ve outlined each of them briefly below so you can have a think about them and see which one of them applies to you.
Is business ownership a family trait?
For some people it’s almost like they don’t have a choice to be in business. They may start their own business because their family has run a business. You might have taken over a family business or started a new business. You might find it hard to work for someone else if you are used to the freedom and responsibility that comes with business ownership.
You want to improve your life
Many people start a business because they want to improve their lives. They want more freedom, they want a better work life balance. Work life balance means different things to different people. For example a mother might want to be able to take a child to play dates during the day and be able to work in the evening. A father might not want to live the traditional corporate life. He might not want to put a suit on and head to city every day. You might want to spend more time with the kids. Work life balance doesn’t necessarily mean working less hours it just means having the ability to choose the hours that you want.
You want to remove negative consequences
Some other people start a business as a side hustle. These people may have incurred debt or had some other problems which means they need to earn extra cash. Setting up a business maybe the best way to do this. They’re looking for a business that they can run at night outside the traditional work hours. They may be setting up a business instead of getting a second job.
The three reasons mentioned above certainly out the only reasons that someone might start their own business but they are three common reasons. It is important to recognise why you have started a business because it is that reason that will keep you motivated. Running a business is hard work. But it is incredibly rewarding work. Understanding why you’re in business is important to make sure that you can move past all the challenges that you may face and seek out the rewards that you were searching for in the first place when you started your business. Let us know on our Facebook page why you have started your business and share your challenges and journey with some of our other fans.
Ethical Direct Selling Group has our Business Ethically Events running each month.
We also have the Association conference and awards night which is to celebrate people in the industry and how they are conducting themselves with ethics in mind.
Time to nominate people in the industry for our Awards.