Why to do – the purpose to start your own business
We all need money. Commonly we get money in exchange of goods and/or service you provide.
The money comes from the service receivers. The pay is the value a payer considers (or he is convinced) appropriate for what you offer.
If you are working for an employer, it is not your problem whether the customers pay asked price for the products or not. Your problem is if you can get the amount you want from your employer. Fairly safely you can expect so much of dollars in exchange of how much of work you do.
If you are a business owner, you won’t get such a promised income in the same manner. It is all up to you what and how to sell, how much to make or lose. There’s no guarantee that your hours will be paid reasonably. It is risky, definitely riskier than being an employee.
So, before you decide to start your own business, you naturally think if it is worth it to take such a risk. Why you want to have your own business instead of working for someone else?
If you want money, you don’t have to have your own business. You may make money, but also you may lose it. If you realize how small percentage of entire businesses is making it profitable or even break even, making money should not be the first reason to start your own business. Many people do an unrealistic calculation like ‘I can make this product for $5 and sell $10. If I sell 100 every day, I can make a lot of money!’ Great, but this picture lacks a crucial element. The matter is not how many you want to but you can really sell. If nobody buys your product, you are not going to make any money.
Money is likely not the first reason to start your business unless you have already had an established, profitable market connecting to you.
If not money, what else makes you decide to go on your own?
The answer will be individual and unique.
Mine is because nobody else provides what I want. If nobody does it, I should do myself.
I like to eat. I like to be energetic and happy. I like to enjoy my life. I wish other people enjoy their life.
Since I moved here, I had to search far and wide to get what I wanted to eat. I had to spend so much time and money just to look for the possibilities. My conclusion was there is no ideal structure and service around me to make my life easier than now.
In the meantime, the situation made me more creative and challenging. Necessity is the mother of invention! I tried many things myself and filtered what is practical and what is not for a mother with young children with peasant income.
If it works for me, it should work for many people. Then I realized offering a new structure based on my experience may help people make their lives easier.
If it were just for me, saving money or getting wanted food, I couldn’t have made up my mind to start my own business. But, this last piece, contribution for the society, pushed me. When it clicked, my vague idea started transforming into a realistic vision.
Summary:
Why your own business?
Not just for money but something fulfilling your life.
Consider how you can contribute the society through your business. Social participation and contribution is one of the key elements for your success.