I know, going to work Monday to Friday, waking up 3 hours earlier just to avoid traffic and clocking up an 8 hour day – it can get pretty monotonous – even though it’s comfortable and it pays the bills. Hhhhhmm is there more to your work life though?
So, you’ve thought ‘maybe I can start my own business!’ Oh yeah…. work my own hours, do my own thing, don’t have to answer to a mean boss, and of course make loads of money…why shouldn’t I start a business? Ever dreamt like this?
Ahem. Sorry to break it to you, but I want to very frankly give you 8 reasons why you SHOULDN’T start a business. And we’ve started, built and sold a business, we’ve been through the whole deal. Boy, it was rewarding and challenging, but tough to say the least.
You really should think twice before you start out.
Better still, check out these 8 reasons to see why you shouldn’t start your own business. Then maybe you can figure out if being a business owner is for you or not.
8 reasons why you shouldn’t start a business:
#1. You don’t like taking risks
Being a risk taker isn’t a personality thing, although the more meticulous, quieter personality types tend to lean more towards caution and low risk because security and comfort is most important to them. If a stable, secure income in a big, stable company with no fail regular pay is what you’ve always liked, you’ll simply balk at the reality of uncertain income, overdue bills, and loan payments barking at you.
You’ll hesitate at the slightest hint of an unplanned, uncontrolled situation – it’ll delay your decision making, if it doesn’t paralyse you with fear at first. Risk adverse people least like these hairy situations and will try to avoid it the best they can.
Failure, disappointments, & sleepless nights could rock your life. You’d give it all up in a second, if faced with these emotional roller coaster inducing rides. But when it all hits the fan, risk takers can pick themselves up, because their desire is bigger than the risks.
#2. You’re feelings driven
Do you make decisions based on how you feel or by what you think? ‘Feelers’ alone, don’t often thrive in business. Because businesses have a risk factor to it as well as the processes, structures, and systems that need to be built in it. If you ‘care too much about people’ ie their feelings and opinions and take their reactions personally, you’ll get drained, and that’ll affect your focus and energy levels.
Feelings alone, will simply not build a business – one day when you aren’t feeling it – what do you do? Bury your head in the sand? Would you crumble at the first negative customer feedback or at the slightest criticism by a family member? How about praise? If no-one praises you for your progress, can you push yourself to keep going?
Decide not feel only, is what thought driven business people do.
#3. You don’t like discipline
Discipline is a huge part of the successful business owners life. It’s needed for growth, for the execution of plans and goals – being results focused is a basic prerequisite for achieving results. Self motivation & self control comes out of a disciplined mind too. Working hard while working smart included.
If you love your naps, free time after hours and weekends off then you won’t want to sacrifice these pleasureable habits in order for you to reach your business goals. Discipline means being consistent at doing what you need to do, when you don’t feel like it or when the situation isn’t ideal.
So pushing yourself, even when you’re tired, in order to fulfil orders, meet deadlines, or staying up late to write up a client’s proposal can become normal. Social things like coffee outings or dinner parties might be a thing you forego, for a season.
Loving what you do goes a long way, but it does require discipline to be committed, constant and consistent.
#4. You’d rather be told what to do
If you’re used to taking orders, following lists to tick off and working the same way, daily, then you might feel unnatural to initiate, plan, problem solve or to think on your feet. Let alone drive the business.
Self doubt, uncertainty, lack of knowledge – these things are best overcome by YOU, pushing yourself to overcome obstacles and to learn new things. If you’ve relied on routine, the comfort of knowing your job and predictable outcomes, you could feel inadequate self initiating.
Taking on ownership for yourself could be difficult, because you’re so used to being told what to do, to think inside the box, instead of out of it.
#5. You don’t like people
Really?! You don’t like people?!! Then you can’t be in business, because it’s all about people – staff, customers, suppliers, the public. If you easily get upset at complaints, or criticism for example, you’ll react rather than respond appropriately. People will not enjoy working with or by you.
If you treat people right, can take it on the chin, or stay clear minded – calm under stress and pressure – then you will win the customer/team over. Or it can be the other way around – you repel your customer or staff member. Well, things may just start going downhill fast from there!
So you need to like people. At least, be patient, respectful and professional with them.
#6. You don’t like cleaning toilets
Guess who’ll be cleaning the toilets, taking out the rubbish and vacuuming the office? You of course, unless you’ve grown rich enough to hire a cleaner! You’re the boss, the sales team, the marketing team, and the cleaner – all in one! Welcome to business start up 101!
As a side note, our staff & I always cleaned the office – we saved our company thousands of dollars, but I just enjoyed cleaning, anyway. So if you like leaving all the cleaning to ‘the company’ then it might be a sign that you don’t like rolling up your sleeves and doing what it takes to get what needs to get done, however lowly or beneath you it seems.
Yes, maybe you can save time by paying contractors, but why would you if you could invest every penny you earnt back into marketing or sales?
#7. You like everything instant
There’s no such thing as an overnight success, of course. And living in an instant world doesn’t help – instant downloads, instant click and buy, instant replies. We’re short on patience, perseverance and persistence. If you’re impatient, and can’t wait to see results, then you’ll find it hard to survive. As it can be a long, long road to success.
Persistence always pays off. Especially when you start a project, when it sucks up all your spare funds, every last drop, with no sales in sight. This was us for a few years because we dared to create our own product with no experience or skills! Long story short, today our software product, sold to a former client of ours, is now widely installed all over NZ.
Persistence, perseverance and a never-give-up attitude wins the deals!
#8. You love your job
So you love your job and you’re really good at it! Wow! Congratulations, you must be satisfied and couldn’t be more content. Then you may end up staying there, advancing in your career? The majority of us do this, and that’s a good thing.
You see, if you’re not dissatisfied or frustrated with your current situation, you’re not looking to change. It’s probably never entered your mind to start your own business. Why would you when you have all the benefits and a path that your company has created for you?! You’re happy.
Love your job, grow in it and keep doing your best. Be an asset or a significant contributor to your employer. The world needs excellent employees like you.
So, that’s the 8 reasons. Let’s recap again:
8 reasons why you shouldn’t be business:
1.You don’t like taking risks
2.You’re feelings driven
3.You don’t like discipline
4.You’d rather be told what to do
5.You don’t like people
6.You don’t like cleaning toilets
7.You like everything instant
8.You love your job
So which one of these reasons resounds with you the most? Given all these reasons above, are you now more persuaded to start or not start your own business?
Congratulations if you want to start a business – jump on here to see why it’s a good idea to start one in your spare time. Or do you want to start a blog?