Why do you want to start your own business?

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Every one of us that has consider to start your own business has been triggered by something to do so. Normally, the trigger changes our behaviour. Here are some triggers that may call us to action in opening our own business.

Reasons why to start your own business

1. To improve your self-esteem – maybe you are the best in your job, but you don’t get recognized. Or, perhaps you are bullied. Maybe they expect you to do something that’s against your values and beliefs? By starting your own business, you can do something that you can enjoy and be good with. You are in charge of your own destiny and can choose the people that you want to work with. There is nothing more satisfying than to be a successful business owner.

2. To be successful – “No one goes into business with the intention of failing. I am grateful and proud of my successes”, says Ennin Black in American Express. The drive to be successful is a strong emotional trigger for first-time business owners. The success of their business is instrumental for prospective business owner’s next goal, to be autonomous.

3. To be your own boss – you want to run a business yourself instead of working for someone else. According to Van Gelderen and Jansen¹ (2006), a large majority of small business starters like to be responsible, to decide on strategy, to decide on working methods, and to regulate their own time.

4. Displacement – according to Krueger, Reilly, and Carsrud (2000), displacement precipitates a change in behaviour where the decision maker seeks the best opportunity available from a set of alternatives. When you’ve lost your job, or are forced to relocate, you may not have any other choice but to start your own business.

Concluding

The four reasons that prospective business owners may use as discussed here are motivational of nature. However, three of them are internal motivations, whilst with the last reason, external factors triggered the behaviour. Next time we will discuss what resources you’ll need to start your business. Good Luck!

Remember, you need a well researched and written Business Plan to get your business off to a good start!

Read also: What is keeping you from starting your own business?

Notes:

¹ Van Gelderen, M. and Jansen, P. 2006. Autonomy as a start-up motive. Journal of Small Business and Enterprise Development, 13(1):23-32.

² Krueger, N.F., Reilly, M.D. and Carsrud, A.L. 2000. Competing models of entrepreneurial intentions. Journal of business venturing, 15(5):411-432.

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