Starting a business can be a life-changing experience. It can also seem like a scary one if you’ve never done it before. So you daydream about it, imagining yourself as rich as Jeff Bezos, as innovative as Sara Blakely, and as ambitious as Jack Ma. Future you is going to dominate the world. But today you is a little bit nervous about what starting a business entails. Truth is, we need future you now more than ever, so let’s break down the reasons to start a business to give you that kick in the butt you desperately need.
16 Reasons to Start a Business
1. Work From Anywhere
There’s something magical about the daydream of you drinking a daiquiri or a beer on the beach working on your laptop at sunset. It almost feels surreal – doing what you love where you’ve always dreamed of being. And while it can be hard to use your laptop with the sun’s glare on your screen, truth is working from anywhere does have its perks. You can run your business from your laptop during a flight to an exotic destination. Or at a coffee shop, library, coworking space, home, and basically any other place with a Wi-Fi connection. Let’s be honest, nobody wants to work in the same boring place all the time. So if you’re looking for the freedom to work anywhere, you can add this to your list of reasons to start a business. You might also find that the digital nomad lifestyle is for you.
Shopify entrepreneur and globetrotter DJ Jammison shares, “I became an entrepreneur so I could take back my time freedom, financial freedom and travel the world. I was forced to drop out of college because I could no longer afford it & then got a job as a custodian. That’s what motivated me. I started my journey in 2013 and I never looked back. I began with Affiliate Marketing and then transitioned to E-commerce with Shopify & Oberlo late 2015. Fast forward to 2019, I run my online business with just a laptop while traveling the world.”
2. It’s in Your Blood
Kyla Denault, Founder of Easy Breezy Dogs, explains, “It’s in my blood. Both my parents were entrepreneurs and they always told me to do something you enjoy and brings you happiness. I have had multiple side hustles from starting the first cage-free dog kennel in Ottawa, to selling Cedar Barrel saunas, selling tea, organizing speed dating events, selling pet products to currently owning Easy Breezy Dog Training. I love the creation of an idea, the research, taking a risk, implementation. My favorite quote that I have hanging in my livingroom is, ‘Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.”
3. Experience Freedom
If you ask people why they started a business, experiencing freedom would be at the top of most lists. More people are taking Ariana Grande’s 7 Rings advice, “I want it, I got it.” From taking vacations when you want to waking up at any hour of the day, running a business allows complete control over how to schedule your day, your breaks, who you spend time with, what days you work, working around your energy levels, and more. The biggest reason for starting a business is that your life is back under your full control.
4. To Find Others With Similar Interests
Kray Mitchell, Founder of the magic trick accessories store Tricky Fingers, tells us, “I started my current business because I felt there was an opportunity to provide more of an elite branding to magic in Canada. While the classics have their place, I wanted to provide a curated selection of products that were both highly visual and highly rated. I wanted to provide my customers with an amazing experience online and post purchase. I love magic, and I love watching magicians, so the more magicians I help to live their passion, the more I get to enjoy too. It’s win-win.”
5. Feed Your Family
A solid reason to start a business comes down to supporting your family. In life, family comes first always. It’s not just about putting food on the table, it’s also about making sure your family has money to create special memories together with vacations, weekend getaways at the cottage, trips to the amusement park, or a special birthday party for your young child. And it’s important to make sure your children are set up to be successful – tutors, sports or dance classes, hobbies, books, and more. By starting a business, you can help provide a higher quality of life for your family that a 9 to 5 job just can’t match.
6. To Create a Product You Need
Maya Page, Founder of the cannabidiol product store Oilly CBD, explains, “I started my own business because the entire process of purchasing CBD oil frustrated me. I’m just a midwestern mom – I didn’t need chocolate haze-flavored CBD oil! I just needed a clean product that was effective and most importantly, organically grown.
“Since CBD is not yet regulated, there is so much misinformation out there. Each company seems to have different labeling techniques and dosing, which, in the end, left me with more questions than answers. With my background in launching businesses, I decided to go straight to the source.
“I knew others felt my frustrations, so I decided to start my own line. This way, I knew exactly what was in the formula. I started this business out of necessity, but also with the hope to help bridge the gap between an amazing product and the end user.”
7. Escape the 9 to 5
Ugh, the dreadful 9 to 5 job. The 9 to 5 can be a place where your dreams go to die. Why do we invest so much of our energy and time to help others realize their dreams without investing in ourselves first? You deserve to wake up at a time of your choice, work in a career you love, and make money for yourself. And by starting a business, you can do all that and so much more.
8. To Give Back
Arthur Ishkaev, Founder of Strike Your Coin, shares, “I have been collecting coins since my early childhood. I was collecting different kinds of coins from my native country first. Then I started collecting coins from other countries. When we arrived in Canada at the end of 2016 with my family, we noticed all the preparations for the upcoming Canada 150 Anniversary. I thought about how I can contribute to this country that welcomed us so nicely in order to make history! I decided to make a commemorative Canada 150 coin that anyone can strike with a sledge hammer.
“My first souvenir coin turned out to be a big success, driving a lot of interest and also getting me featured on CBC Ottawa News. This has motivated me to start my entrepreneurship journey so that anyone interested can have their personalized coin minted at their event. Now I am invited to weddings and private parties as well as corporate events, and share this joy of striking souvenir coins with all event guests.”
9. Take Ownership of Your Career
Pay raises, promotions, and company guidelines tend to be outside of your control. Whereas when running a business, you get as much as you put into it. If you invest in heavily marketing your products, you’ll generate more sales than someone who didn’t. At your 9 to 5 job, your career growth and income is capped. The average company pay raise is about 3.1% each year. And that pay jump usually coincides with inflation going up so you’re not really making as much money as you think. If you’re looking to advance in your career, the easiest way to do that is to start a business. Why? Because entrepreneurship requires you to learn and master a lot of business skills allowing you to experience the level of growth your day gig can’t match.
10. You’re Inspired
Mark Ranson, Founder of the fashion store Mark & Vy, shares, “I studied IT at university but it was probably Tim Ferriss’ book, ‘The 4-Hour Workweek’ which solidified the idea that an e-commerce business could really be a viable option for me. I hated the corporate life, being tied to a cubicle for long hours, and I wanted to grow something myself from the ground up. It would take a number of years, moving to Vietnam and meeting my wife before these plans would really come to fruition however.
Vietnam is home to some master tailors and my wife grew up in a tailor’s shop, with many relatives also working in this profession. Our particular passion is traditional Vietnamese dresses called ‘ao dai’, and the amazing quality of the tailoring which goes into every single dress from the best tailors. We wanted to help bring these beautiful, elegant dresses to the world, and particularly those who don’t have access to high quality tailors in the home countries, and hence our brand ‘mark&vy’ was born.”
11. Quit a Job You Hate
Annoying coworkers, bad managers, lack of recognition, and an unfulfilling role can all contribute to the dread you feel every morning before heading to work. Why spend 40 hours a week doing something you hate? Don’t say to make money because there are a ton of ways to make money online. Seriously, why do you keep torturing yourself when there are so many other options. Do you realize how talented you are? Your company interviewed countless people, but they ultimately hired you. If your recruiter and boss believed in you, what’s stopping you from believing in yourself? You can succeed as an entrepreneur. Don’t be the person blocking your own success.
12. Create Jobs
Maybe you grew up in a home where your family lived paycheck to paycheck, or you watched seasonal workers in your family get laid off each year. A popular reason to start a business sometimes comes from wanting to create jobs to help other families. Some entrepreneurs love that they can give back an opportunity that someone once gave them: a paying job. This altruistic reason to start a business leads to a sense of fulfillment and purpose, which keeps entrepreneurs motivated for years to come.
13. To Kill Boredom
Hassan Alnassir, Founder of Premium Joy, says, “I got quite bored from the daily job as an engineer. After several years of service, it felt like a massive waste of my precious time. The working hours were overly long, and I didn’t genuinely love what I was performing. The most attractive alternative to the tedious job which I thought about was establishing my own business and selling products online. Being an entrepreneur would give me back my time and allow me to enjoy working. I initially thought the task of creating the website would be overwhelming, but Shopify made it simple to launch the online store for my business in only one month through customizing an existing theme.”
14. Pursue Your Passion
“Choose a job you love and you’ll never have to work a day in your life.” Motivational quotes like this one from Confucius remind you that you can pursue your passion to live a happier life. And I know that some people will tell you that some passions aren’t profitable to discourage you from doing it. But remember it wasn’t too long ago that video gamers first realized they can make money streaming their game time. And there are beauty bloggers who now make money from video tutorials, selling beauty products, and influencer posts. So remember, if your passion is tied to a niche, you can and will find a way to start a successful business doing what you love.
15. Build Something
Some of today’s most powerful businesses were built by creators. You can create an app, a blog, an online store, an ebook, graphic designs, etc. By taking those creations and promoting it to a relevant audience you can start your journey as an entrepreneur. Many successful entrepreneurs started businesses because of their obsession with creation. They recognize that their ability to turn nothing into something tangible that’ll help or entertain others motivates them to create more. Creators are the doers of the world which is why it makes perfect sense why so many of them turn to entrepreneurship.
16. Create a Legacy
Unless machines take over our consciousness in our lifetime, there’s a chance that in a few generations after our death we’ll no longer be remembered. Scary thought, I know. So, how can you become memorable? You can build something that outlives you. You can build a business. If you want to be remembered long after you’re gone, you can build a brand that outlives you that continues on for generations. You don’t have to build something innovative or unique, you just need to build something that lasts. You can start with an online store focusing on getting those first few sales. And as the years pass and your brand grows, your impact in that niche can expand into other categories and serve customers in ways they don’t expect. Building a legacy won’t happen overnight. However, the steps you take today can lead to a huge impact in the world a few years from now.
They say that half the battle of building a business is starting. It’s true. Those daydreams you’re living in aren’t real. I know it’s terrifying to take a risk and to take a chance on yourself. But how is it fair that your boss becomes a millionaire when you’re slaving away doing all the work? What skills do you crush your coworkers at that can help you succeed on your own in the long run? Do you want your boss in the driver’s seat when it comes to how much money you make? No. So, who’s ready to start a business? YOU are.