Reasons why you should start a business

Are you toying with an idea for a business? A lot of people think about starting a business in Nigeria or anywhere in the world, but for whatever reason the idea never becomes a reality. If you’re an entrepreneur who is on the fence about starting a business, we’ve got the encouragement that you need to take the first step. Here are the top 20 reasons you should start a business right away

Reason #1: Job security
Is starting your own business really any riskier than relying on a single source of income for your livelihood and your dream? With resent closure of companies in Nigeria over the years in which companies like OLX, Efritin are no more and many people lost their jobs as a result of this is an indicator for you to know that “job security” no longer exist.
While some people would argue that working an office job in the 4-5 world has more security than starting your own business, but mind you have never seen an employee on the forbe list of world richest before.

Reason #2: Fill a void in the community
Offering a product or service that is lacking in your area is a great reason to start a business. Nigeria as you know it is full of problems in which you can provide solution for at least one out of the many.

Reason #3: Be the boss you’d want.
Weve all had a terrible boss or two, but launching your own business allows you to be the kind of boss youd like to work for. You are the one calling the shot here.

Reason #4: Create a legacy
Having your own business means you’ll have something to pass on to your kids, and possibly unborn generations too. Just imagine your dad pass on a million dollar or more to you, how will you feel?

Reason #5: Acquire a variety of skills
From accounting to marketing to management and everything in between, the variety of skills you’ll learn as an entrepreneur is limitless.

Reason #6: Financial freedom
Of course the reward from your effort in building successful business will bring about financial freedom for you beyond what you can imagine. That’s why you will see Dangote, Otedola, Adenuga, Alakija getting richer daily.

#7: Time freedom.
Once you start a business, you won’t have time for anything because it will require serious input from you. By the time you’ve built it to a level that it can run without your presence, you’ll have time for your children, partner and your love ones. Both time and financial freedom are crucial. Want to go to a baseball game in the afternoon? Does your child have a doctors appointment in the morning? If you start your own business, youll have the flexibility to do all of these things.

Reason #8: Everyday brings new challenges.
Being a business owner will test your creativity, it will challenge you and you tend to do so many stuffs rather then doing one particular task in a cubicle. It never really feels old, there are always new challenges to face, and you never stop learning.

Reason #9: Join the wave of the future.
Ask a degree holder today about their career aspirations and they are more likely to talk about working for themselves, setting up a business, and being an entrepreneur than they are to say they want to be chained to a desk, working 14 hour days for a faceless corporation.

“For tomorrow belongs to the people who prepare for it today.” ~ African ProverbClick To Tweet

Reason #10: Keep someone else from taking your idea.
If you sit on a business idea, someone else could come along and capitalize on that same idea before you do. Have you ever had an idea that you never acted on and months or years later, you saw someone else doing that same idea you had? How do you feel about it? Now don’t wait further and let that to happen again. Act now!

Reason #11: Set your own deadlines.

No more last-minute rushing unless you want to do it especially if you are running a home base business, that is a business you can run from the comfort of your home.

Reason #12: Ability to create your own environment.
You are at liberty to set the formality and culture of your organization which also go alongside being the boss.

Reason #13: Pursue your passion.

Many people are in one job or the other which makes them sick and they dont even like it. Take for instance Cristiano Ronaldo (a popular footballer) who gets paid by doing what he loves, what he is so passionate about. You too can make that happen too in your life if you take on the entrepreneurship call. You can do what makes you happy.

Reason #14: Create jobs.
A business you create now has the potential to feed other people. Most people tend to look up to the government to provide jobs for them which was possible back in the industrial age, but now we depend on individuals to create jobs. Improve the economy with new job opportunities that your business will create.

Reason #15: Tax benefits.
Being a business owner has many benefits that comes along with it and one of the benefits is Tax. However, many financial experts suggested that you must be a business owner to enjoy it to the fullest. What most entrepreneurs get is what is referred to as employment

Reason #16: Create an asset.

Basically there are 4 classes of asset and business is one of them. Having a business gives your something sellable to hedge your bets which reminds me when the founder of MacDonald was asked what made him wealthy and he said Real Estate. The plan was that he created a business that serve as an asset for the real deal (Real Estate) he had in mind all along.

Reason #17: The power to give.

Have the power and flexibility to donate time or money to worthy causes that is why you will see most of these billionaires donating to charities etc. One of my favourite is Bill Gate who is referred to the number one philanthropist in the world. Being a business owner gives the liberty to help people around you.

“Unless commitment is made, there are only promises and hopes; but no plans.” ~ Peter F. DruckerClick To Tweet

Reason #18: Inspire others.

When you become successful, people will want to learn from you and listen to you, thereby inspire them to pursue their dreams too. Im very sure you have a role model who does not even you but you know them and there is something you love about the person that you want to emulate. Warren Buffet does not know you, yet you listen to his audios, watch his videos and even read his quotes. Thats the level where entrepreneurship can bring you to. Serve as an example for other people to follow their dreams.

corporate worldReason #19: Change the world

It may seem like a lofty goal for you right now, but your business really could change the world. The Information Age will never forget people like Steve Jobs, Bill Gates etc. who has revolutionized this age alongside many others such as Facebook founder, Google founders etc.

Reason #20: Abundance resources.

With the dominance of the Internet, it is easier and faster than ever before to find resources you need, including startup capital, loans, grants and even mentors.

Final Thought

If you want to become an entrepreneur, theres nothing really holding you back. Take the leap, and lead the company youve always wanted.