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5 Reasons to Start your own Business

July 14th, 2009

People say that now is the best time to start a business. And, it seems that more businesses are being started now than at any time in history.

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Here’s some ideas why now might be a good time to start a business.

  1. Times are Changing.
    Starting a business now is easier than at any time in the past. All the information we need is available for free on the internet. And, starting a business is much faster and easier as well. There is software and web sites to do most of what we had to do ourselves. Besides that, there is so much inspiration available. Just reading about new products or services, or recent technological miracles makes it easy to come up with exciting ideas for businesses.
  2. No such thing as Job Security.
    People used to believe in job security. They thought that if they spent decades working for a company, the company would take care of them and give them money for retirement. Many people even thought that they could not be fired because they had been working there for so long. That seems like a pretty dated notion in today’s globally competitive world. Even unions, which attempt to ensure job security, cannot survive when their employers and industries disappear.
    The world is changing faster and faster. This blog is a great example. Just 10 years ago blogs did not exist. Business is changing. And so are employer needs. A company may need hundreds of people to do a certain job, but changing technology and customer needs could remove those jobs in a short time. Is a company going to keep employees that do a function that it no longer needs?
    Outsourcing and offshoring are other new trends that eliminate job security. It can be more effective, cheaper and even improve the customer experience to farm out jobs that are not part of the core business. If the business and customer can profit from these improved efficiencies, then it is natural for companies to take advantage of them.
  3. Technology makes Staring a Business Easy.
    All the information we need to start a business and make it succeed is available to us. Some would argue that you can get it all free on the internet. Personally, I also like books, CDs and seminars. The point is that all the information we need is readily found for very little money.
    Technology has made it possible to outsource key business functions extremely cheaply and effectively. Accounting? No problem. Use a web site or software that generates invoices and tracks payments. Advertising? Use Google Adwords or another online solution that allows an individual in a few hours to do what a whole department used to do.
    Technology has made outsourcing incredibly easy as well. Need a human being to write some software, develop a web site, or write copy for an advertisement? No problem. Sites like Elance make this possible and extremely cheap. I have hired several people from Elance, and have had good results. I even found a business partner through Elance.
  4. Realize your Dreams.
    It’s pretty much a challenge to realize our dreams and stay at a job. Jobs simply require too much time. How can you travel through Asia when you only have one week vacation? What most people call a vacation is really just a jam-packed tourist trap tour that leaves us more tired and confused than when we were stuck at work. To really enjoy a vacation you need to spend some real time to discover and learn and do things. It takes months or years.
    Keeping a job is not conducive to happiness, success or fulfillment. Jobs take up too much of our time and give us too little in return. We end up working with people who undo what others do. We get stuck in the confines and limitations of the company, which becomes a massive waste of time. Besides all that, jobs do not pay us enough money to realize our dreams.
  5. Starting and Building a Business is Fun.
    When it’s our own business, we get to call the shots. We get to decide who we will work with, how much money we will make, and we even get to do what we want. Hate accounting? No problem, outsource. Hate writing? No problem, delegate to a partner or employee.
    Another great thing about your own business is that you can build it around something you love. People will consume just about any product or service that you can think of. Recently I saw a woman pushing her dog in a stroller. Dog strollers! How unique is that! Anything that we love (like dogs, children, cats, computers, etc.) can be turned into a product or service. The trick is to find something viable that we love.

At this time, the world is changing faster than at any other time in the history of humankind. Each person is empowered with more information, more computing power and more ideas than ever before. Turning these unique gifts into a business is an opportunity that everyone has. The question is, who will do it?

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