You are equally as frustrated with phoning the HR departments of Companies that you know could use someone with your skills, only to be told, “We are not hiring right now, could you call back in six months maybe something will open up. ” A friend suggested that maybe you should start up a business. It's a thought, you have excellent skills acquired in your last position, you are very familiar with the competitive marketplace, and you feel that you have compatriots who would join you in starting a new business.
What Are The Benefits Of Starting A New Business?
1. Self-satisfaction. You will have the inner satisfaction of starting your own new business and watching it grow. You've been very frustrated at not being able to find a satisfying job and your new business will give you a renewed energy of purpose and motivation to succeed.
2. Freedom. One thing you will often hear from small business owners is that they appreciate the freedom having their own business has afforded them, compared to when they worked for someone else. As the owner of a business start-up, you will have the freedom to make all the decisions regarding the development of your business. While an employee of your previous company, you may have lamented the fact that you were not listened to and the decisions made by your managers were not always what you considered worthy. As a new business owner, you should have the freedom to prove what you have always known, that you are a good manager and that you know the industry extremely well. You also are aware that this knowledge alone will not be enough, because you realize to start a new business you will have to be well financed and have a clear and concise business plan covering short and long-term goals.
3. Financial benefits. If everything goes as planned, as a new business owner you will have every opportunity to increase your ability to make more money. Have your accountant draft a safe and secure way of drawing your salary to insure a fair return for your efforts while at the same time keeping the finances of the new business as the number one concern.
4. Personal returns. Besides the self-satisfaction of watching your new business grow, you will begin to get returns on your personal investment. Personal investment is the amount of time and energy that you will put forth to accomplish your new business goals. You will likely find yourself working harder and longer hours as you continue to develop your company strategies. However, the increased effort and hours will be directly related to your own new business's accomplishments and therefore filter back to you personally. You will likely feel a sense of accomplishment never garnered in your previous position.
5. The challenge and the risk. As an entrepreneur, you have an inherent liking of challenge and should understand the risks that accompany starting a new business. You will have to employ all business techniques that are available to you to reduce risk and overcome challenge. Starting a new business will constantly present new and varying challenges whether it is market deterioration, financial concerns or human resource situations, and you will need to manage and meet the challenges with sound decision-making.
You have just learned a handful of the benefits of starting a new business; the rest is up to you. Meet the challenge.
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