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Why Should I Start a Company?

Why should you start a company? Are you confused by reading all the risks involved in starting a business, but want the rewards it offers? From being your own boss to the chance for more creativity, there are many perks of becoming an entrepreneur. When you own a company, you have the total control of your future and achievements, but also you are equally responsible for all the challenges, issues and failures that come your way. If you’re an entrepreneur who is on the verge to start a business, here is the motivation you need to take the first step!

You are your own boss

Sick of your manager giving you a hard time in a job? By starting your own company, the only person you will have to answer to is yourself. If you are your own boss, you get the freedom to do things your way and execute your own plans. We live or die by our own decisions, but that’s the good thing about it, right?

You get to build your own identity in the market

If you are working for an employer, there are chances that you will not be able to do what you love and aspire for. By starting your own company, you can get into shape and flush out your own dreams. Whether you want to turn people’s yards into beautiful spaces or become a multinational exporter, it’s all up to you. You are free to build your own identity, the way you want to!

Flexibility

You can work according to your availability. You are not restricted on working the hours that are given to you. With your firm, you get to set your own hours and meet your own deadlines. Adhering to your own targets can sometimes become a huge motivation to work hard and drive the business forward. But yes, you need self-discipline. Especially for women, starting your own business or company can give you the required flexibility to raise your family and still have a flourishing career.

Exploring yourself

Entrepreneurship is a journey of self-exploration. You may find your real self after working on something you love. Discover your passions; find one thing that you can work at without looking at the clock. Find something you are willing to work on even if you are not paid for it. You will feel relief. You may find God in that work. It is nirvana for entrepreneurs.

You make more money

Some businesses make truckloads full of money. But some don’t! Most successful businesses provide their owners to open up with the possibility of making more than they could possibly make as an employee. Businesses usually have much more opportunity to make money than individuals do. In a business, all the profits are yours. (If you don’t have partners) whereas if you are working for a company, you always get a fixed salary.

Networking

Usually entrepreneurs love to meet each other, swap stories, and learn from each other’s experiences. Your circle of friends and acquaintances always grows when you become an entrepreneur, as many founders need others to lean on to survive and talk about the challenges only known to them.

Mentorship

Having had mentors and getting to be a mentor can be the best experiences of your life. Learning from the masters and giving help to those less experienced than you gives you such a sense of satisfaction. When you become an entrepreneur, you can willingly give back and lend a helping hand.

Tax benefits

For entrepreneurs, they have the possibility to take advantage of some nice tax perks. Many can write off expenses like travel, food, phone bills, portions of car payments, and the list goes on. Also, certain startups qualify for government incentives. Make sure to ask your accountant about what tax benefits you may be eligible for.

Recognition

There are literally thousands of local, regional and national awards that recognize entrepreneurs in every field and industry. This shouldn’t be your only reason to start your business, but it certainly is a great feeling when you receive this recognition.

Create jobs

There’s nothing like the satisfaction of knowing you’re responsible for the success of your employees. Your ideas provid them the opportunity to earn a living, provide for their family and fulfill their own dreams. It is truly a great feeling to become the reason for someone’s happiness!

Financial independence

Let’s be honest, this is probably the biggest reason people get into business for themselves. And that’s a good thing! You should want financial independence. However, you may define financial independence as retirement stockpile, unlimited cash potential or have the money to buy what you want; entrepreneurship can allow you to achieve that. After all, money can’t buy happiness, but it does make finding happiness much easier.

Determination

With entrepreneurship comes a determination and willingness to do the work. It can affect your personal as well as your professional life. You can be poor at committing to the changes. But being an entrepreneur for over a decade may force you to become dedicated and determined to your causes. And you can stick to your plan much easier.

Purchasing an existing business

While it may not be viewed as “starting” a business, purchasing an existing business has proven beneficial for many business owners—but it undoubtedly requires both financial and time investments. For businesses that are already profitable, these new business owners jump past the true startup phase into running a mature business.

Heads you win, tails you won’t lose much

Once you start a company which becomes successful, you will get everything you wanted in life. But unfortunately, if it fails, you will learn so much in your startup career that any other startup will gladly accept you as part of their journey. Your startup learnings may not be useful for a corporate job, but it will be an asset for another startup.

Conclusion

These may be some of the reasons that we think are good enough to open a company, But all that matters is your reason! So, what are you waiting for? Look for your reason and work on it!