Starting up a business isn’t a new phenomenon; in fact, it’s as old as the hills. There are many reasons why different people venture into start-ups, from a deep entrepreneurial drive within to a sudden cash injection, or brilliant “brain flash” idea. Below are some of the most common reasons that make people start a start-up:
With universities, technical colleges, and other higher education institutions churning out thousands of graduates every year, employment opportunities are steadily shrinking, and the competition for each position increasing.Add that to a sluggish global economy and routine job cuts wherever you look and it’s easy to see why people decide to set up on their own.
Entrepreneurs have created some of the most successful corporations in living memory; with his buddies in college to be one of the world’s most famous billionaires today. If that isn’t enough to inspire you to get started, then maybe being able to live out your passion is.
Everybody dreams of doing what they love and what interests them. Getting stuck behind a desk, selling insurance policies over the phone to disinterested pensioners only makes people more inclined to take a chance and start something exciting.
Business start-ups provide a unique opportunity to choose what you work at. It might be your hobby today, but never know,you could earn lots of money and be inspired every day at the same time.
For Sean Hopwood, of Day Translations, his passion for languages inspired him to start up an online translation services company in his spare time. From one employee he’s now taken his company to global success in a few short years.
Being Your Own Boss
There’s nothing like being your own boss. OK, you don’t have the luxury of a guaranteed pay check at the end of the month, but if you’re fed up of your superior stressing you out in a job you hate, then starting up your own business means that the only person you have to answer to is yourself.
Being your own boss gives you the freedom to do things your way and implement your own plans. Of course, you’ll be accountable for your employees and for the company’s bottom line, but for many people, the pull of not having to stick to someone else’s schedule is more appealing.
For some, it’s the confinement or restrictions of their job description that don’t give them room to exploit their skills fully. Going it alone might be the best option, as this gives people enough room to experiment and put their talents to best use. Starting up a start- up is like having a blank page to write on and, who knows? You may come up with a work of art.
Identifying a Profitable Opportunity
There are numerous stories out there of entrepreneurs who had incredible ideas, resigned from their well-paying jobs to venture into a start-up and exploit their idea to become millionaires. The big dream really can become reality if you can see a gap in the market, predict what people’s wants and needs may be into the future and what profitable opportunities are out there.
Many people who ventured into start-ups did so because that was their dream or passion ever since they were born. When people have a strong goal in mind, their chances for success are often greatly increased. However, you don’t have to be a genius or follow a lifelong dream for your start-up to work. With minimal finance and good managerial and marketing skills, you can achieve the feeling of satisfaction and freedom that starting up a start-up brings and achieve your goal of being independent with unlimited creativity.