Gone are the days when people would wake up and want to go to work for someone else. Today, the idea of being an entrepreneur is dressed up with a Silicon Valley kind of swag. Too often, assumptions are made that if you get lucky and find the “next big thing,” you will be an instant success overnight.
It is essential to note that this is not the way most businesses find success. In fact, according to the Small Business Administration (SBA), about 25% of all small businesses fail within the first year of being open. Debunking this myth, like the Mythbusters we are, is incredibly important because it sets up your expectations for actually owning and operating your own small business.
Ding, Dong, the Myth is Gone!
With that misconception out of the way, aspiring entrepreneurs that are afraid to dip their toes into the small business world should make the jump. Despite the risk, it is 100% worth it to dive in and build something you are passionate about
With the advances of technology, it is easier than ever to connect with potential customers, track lead generation, and market your product on the internet. Storefronts and offices are no longer necessary for most small businesses. The possibility of having low overhead alone (no employees, no extra rent payment, etc.) has pushed people toward venturing into the world of e-commerce entrepreneurship.
Of course, if you have a dream to be the owner/operator/chef extraordinaire of a small cafe, your overhead will be greater, but so will the reward. When you look back on the success of your business with the out-the-door line that wraps around the block, you will see that all of your trials and tribulations were worth the result.
So, for those of you that are afraid to take the plunge, we have compiled a list of honest reasons to love owning a small business. Weigh them carefully, then decide to build a business you will be proud of.
6 Reasons To Love Owning A Small Business:
Friends, don’t get confused. Yes, being an entrepreneur might mean you have the flexibility to make your schedule, and therefore, you get to decide if you don’t want to work on Fridays. After all, a work/life balance is critical to everyone. But remember that not working on Friday means that no one may be working on Friday. Your business may not progress if you take advantage of having a flexible schedule. Studies have shown that people who own small businesses actually work more than those who work for someone else because the success of their business relies solely on their shoulders.
Accept The Challenge
For some people, the most challenging part of being an entrepreneur is understanding the way money works and strategizing to come up with clear directions for your business. This can seem daunting which is a large part of why a lot of small businesses fail within the first year. Those that succeed rise to the challenge of exploring something they may not be familiar with. Learning about finance and implementing processes is not only good for your business life, but it is also useful when it comes to your personal life as well. Successful entrepreneurs are gutsy, and they are driven to finding the best possible outcomes instead of laying down in the face of obstacles.
Monetize Your Lifestyle, Hobby, or Solution
If you have the best way to solve a problem, you should tell everyone about it. Matter of fact, if it’s as good as you say it is, I bet people would be willing to pay for it. Do you have the newest invention in the tech space? Go for it! Did you invent a robot that juggles while it walks the dog and sweeps the floor at the same time? Hey, we won’t judge you. Maybe there are millions of people who would love that robot. Whatever you choose to center your small business around, it’s essential that you do your research to understand the market you are entering, and then use that information to create the best product you can.
Small Business Support Has Drastically Increased
With the encouragement of supporting small businesses growing on both local and national levels, like that of Small Business Saturday (the day after Black Friday), small business owners with excellent products and a strong customer base will continue to see growth in the coming years. Small business owners play a more significant role in the economy than you may think. Get yourself a piece of that pie and find that the support of entrepreneurs is on the rise.
You Are Your Own Boss
Raise your hand if you like being told what to do. Of course, you didn’t raise your hand because no one likes being told what to do. (Also, you’re probably reading this on your computer in a coffee shop and that would look weird.) The attractiveness of being your own boss makes people’s eyes light up, especially if they currently work under a horrible boss. Being top dog has its downsides, though. You are the one that will make all of the hard decisions as well as reap the repercussions of what you decide.
You Created This
Your small business is your baby. You will give birth to the idea, and nurture it until it begins to take on a life of its own. You will watch it take its first steps and feel the stumbles that follow. Eventually, after long hours of persistence and love, your baby won’t be so little anymore. Maybe your small business stays small because that is all you want. Perhaps you are one of the few that gain significant traction within your space. Either way, you will have something to be proud of because, at the end of the day, you created this.
If you are ready to jump into starting your own small business, having a way to reach your customers and track your progress is crucial. At High Level Marketing, we are excited to help you reach your goals by handling all of your digital marketing needs. From building your website to creating content, and tracking your progress, we will walk with you through the process of getting your business off the ground. Call us at (888) 717-4249 or visit our website, www.highlevelmarketing.com for more information on how we can help you today.