• Tate Smidt posted an update 1 year, 6 months ago

    The interconnected world today has opened up a multitude of possibilities for entrepreneurs to begin small-scale businesses. There are numerous websites that offer advice. Furthermore, the internet has enabled business owners to connect with their peers, learn from their mistakes and use their successful decisions as a reference point for their own paths.

    It’s not necessary to work from 9 to 5 if you’re not interested in that schedule. It is possible to choose your own pace and climb the ladder to make your mark on this world. Here seven reasons to begin your own business now if you are a creative person or have a passion.

    You know that you can do it better

    There is no need to create a new wheel in order to create a profitable business. Pizza delivery was in existence decades before Tom Monaghan, the founder of Domino’s Pizza, promised to bring people their pizza in “30 minutes or less.” This was the key to success and earned Monaghan billions.

    You’re determined to change the world.

    Social Entrepreneurship is growing, and not only for non-profit organizations. Are you involved in issues that matter to you? Start a business to solve some of those issues, or give some of your sales, revenues, or products to fund the cause you believe in.

    Role model

    A recent study found that 33% of women who are small business owners stated that they had started an enterprise to influence other women. Females of color were more committed to this 39 percent of them stated that was the reason why they decided to become entrepreneurs. The Elevating Female Entrepreneurs survey by OnePoll and Office Depot found that 82 percent of women wanted to be successful in order to show other women that “it is possible to get over the stigmas.”

    Attaining financial independence/Building wealth

    You shouldn’t be trying to be rich by starting a company. There are plenty of ways to make money that don’t require you to put in as much effort and take as much risk that business ownership can.

    But, the need to provide for your family and live an ideal lifestyle could be an effective motivational factor. Chances are, you will eventually make more money when you run your own business than is a salaried worker. However, you’ll probably experience some hardships before you get “there”.

    It’s a huge financial commitment to start a business. Make sure you have sufficient operating capital and at minimum six months’ living expenses set aside before you go.

    conversational tone creating a legacy by developing an enterprise. The more profitable your company becomes more of an asset it will be to you and your family. The U.S. Census Bureau reports that 90% of all businesses in North America are family-owned, comprising 35 percent of Fortune 500 companies.

    Are you not quite ready to begin your own business?

    Begin working on your plan even if you’re still not sure. There are a wealth of options available to entrepreneurs in the beginning, whether it’s financing, technology, or even information. Get free advice from your SCORE or Small Business Development Center.

    Five suggestions to help you get your business off the ground

    Funding a small business is challenging, however technology has eliminated many obstacles to access.

    Here are five suggestions to help you begin:

    Find a low-investment business to start.

    If you can, work as long as you can and start part-time to explore your ideas and create your business.

    Don’t hire employees right away. If you need help outsource it to freelancers or independent contractors.

    Work from home based on your business, of course. Start your business from your home and save a lot of cash.

    Pay attention to the flow of cash.

    There are many reasons to start a business. You, no doubt, have your own. No matter what your motivation, you can expect that the job will be difficult but rewarding.

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