5 Reasons You Want To Start Your Own Online Business
In this blog post, I will set out 5 reasons why you want to become an Entrepreneur by starting your own online business. I call these the 5 Whys. In another blog post, I share a Simple 3-Step Formula you can use to start your online business today.
Do you know that there are two groups of Internet users? The Internet is a great source of information for nearly everything under the Sun, so the first group, which is by far the bigger group, consists of people who go on the internet in search of the latest and best information on a subject of interest.
The second group of internet users is formed by online Entrepreneurs or so called Internet Marketers, who see the internet as an opportunity to earn lots of money. Internet Marketing is the term used to describe the many ways of making money online and the number of Internet Marketers has grown rapidly over recent years as more and more people take advantage of the opportunities afforded by the tremendous growth in use of the internet by consumers.
To the former group of Internet users, Internet Marketing is a mysterious subject, full of get rich quickly schemes and shady characters, ready to take your money at the click of a mouse. Whilst there may be some truth in that, this is no more so than in other walks of life, where fraudsters and unscrupulous businessmen can easily cheat customers of their money and one of the goals of this blog is to dispel some of the myths of Internet Marketing and show you how, by endorsing and selling high quality products and services online, Internet Marketing can provide you with the freedom to do what you want for the rest of your life.
Core Motivation
In building your online business you will have to work harder than you ever imagined and it will most likely take longer than your think. Therefore, before embarking on such a course it is important to be sure you are not doing it for the wrong reasons, otherwise you could be setting yourself up for failure because you will not be sufficiently motivated to overcome some of the challenges you are sure to face on your entrepreneurial journey.
When asked why they want to start marketing online, many people give reasons like “I want to quit my job” or “I want to make lots of money,” or “I want to drive a nice car” and other similar reasons.
Now, there is nothing wrong with wanting such material things and using them as motivators, but they should not be your main reasons for wanting to be an Entrepreneur. You can indeed make enough money to quit your job and buy nice things, however, these are actually the outcomes or fruits of being a successful Entrepreneur, not the reasons for wanting to get into it in the first place.
Understanding Your Why
Nay, to truly ignite the inner drive that will enable you to succeed at your goals and get you the things you want from life, you have to look beyond the motivation of material things. Your reason for wanting to become an Entrepreneur has to come from a deeper place and it starts with understanding your Why. If your goal is to make a lot of money so that you can quit your job, then you have to back that up with your deeper Why, otherwise you will fail.
One of the most powerful questions we can ask ourselves is Why? Begin with a goal you are committed to achieving and then explore why it is important to you in different ways. Why must you accomplish that goal? Why is the answer to that first question important to you? Why is the goal worth fighting for? Why will you persevere and accomplish the goal? Why will you commit 100% to your goal? Your reason for wanting to become an Entrepreneur should be what drives you to complete the tasks that you will need to accomplish to reach your goals.
Having highlighted the importance of understanding your Why, let’s take a look at 5 possible "good" reasons why you might want to start your own online business.
(Image: courtesy of uk.pinterest.com)
1. Time and Location Freedom
When people say they want to earn a lot of money, in a lot of cases what they really mean is they want complete freedom. They feel that when they have a certain amount of money, all their problems will be over.
Having freedom means you are not tied to a job and having to clock into work every day, not to mention the fact that as an Entrepreneur you are working to grow your own wealth, not that of someone else.
2. Self Improvement
Becoming and Entrepreneur is more than just running your own business. It is also about growing as a person and being of more value to yourself and others. As an Entrepreneur you have to wear many hats and deal with different situations. You are continually learning how to solve problems and deal with all aspects of running a business. All this contributes to your personal growth as you learn to deal with the challenges of continually improving your business.
3. Fulfilment and Satisfaction
As an Entrepreneur you will also find the work fulfilling and you will be proud of your achievements. Even your failures you will be seen as valuable lessons to learn from.
4. Building Your Assets
Employees trade their time for a pay check that in most cases is only just enough to get by. In contrast, Entrepreneurs use their time to build assets that that will pay them for a lifetime. Having assets also increases your wealth rather than your employer’s.
Let me add a disclaimer here. Starting your own business is no guarantee that you will become wealthy. The success of your business will very much depend on you and how you apply yourself and the knowledge that you pick up on your Entrepreneurial journey. However, with dedication and an understating of the 4 Ps of success, there is no limit to what you can achieve.
5. Help Others
Building you own business will not only benefit you, but it will impact on other peoples' lives by providing products or services to people who need them. If you are successful enough you may even be able to create jobs for people. And if you build it correctly, it may continue to thrive and help others long after you are gone.