Why did you start your business?

I’ve read some interesting articles on this one and wanted to see what the general public are thinking… so please feel free to respond / comment.

So why did you start your business (options below) – it must be the motivation when you started and the most significant reason at the time?

  1. To be the boss (i.e. sick of working for others)?
  2. You had a passion or purpose that you just needed to follow.  You may not have even known where you would end up. Typically applies to charities/not-for-profits, new markets so-on.
  3. To gain greater control over your life / work-life balance?
  4. To make a profit / greater level of income?
  5. You were forced to (e.g. redundancy, relocation or migration, bought the business you were working for because the owner was retiring and so-on)
  6. Other….

All reasons are valid.  However, some are more motivating than others, or more specifically…. motivate you in different ways.

Looking at the above, now ask yourself some of these questions – the answers may become clearer:

  • Ever wondered why you hated business motivation seminars? Maybe you are not motivated by growth in your business, more profit…..
  • Ever wondered why some people are work-alcoholics?
  • Ever wondered why some people plunge head first into business, with no clear goals or road-map, and regardless of the hurdles just keep moving forward?
  • Ever wondered why some people seem to hate being in business, or are maybe in the wrong type of business, but preserver…. maybe they are there because they have to be or were forced to?

So what’s my advice and why is this even important……

  • Find out what is motivating you…. use that to understand what will make you most happy (assuming that is still what motivates you)…. then use that to determine your goals and achieve them.  For example, there is no point chasing money, if that is not what is going to make you happy.
  • I often hear people tell me “that they don’t need business advice” or “I don’t need to grow my business”….   That is fine.  However, you should still jot down your goals and get help to achieve them. For example, if your goal is work-life balance….then take some time off….. if you can’t….ask yourself why?…..What must you do to achieve an extra day off work….. does that mean growing the business enough to employ someone, putting in place procedures and systems so you can then take some time off?  Maybe growing that business will help you achieve the more work-life balance…. If you can link the motivations, that will help you be more committed and passionate towards achieving it.
  • What about being the boss…. but do you feel like the business is controlling you instead?  You should be thinking procedures/systems, checks and balances so you are in control….. not the clients, employees or the business.  Are you applying the 80-20 rule?  Are you working only for your ideal client types? 
  • What I do know for sure is that no one goes into business to fail.