We were delighted to see that last year alone 375,000 new businesses started in the UK, partly due to the pandemic I’d imagine, as well as the increase in redundancies and the change in lifestyle habits which have left us with more free time than we’ve ever had before. Whatever the reason, it’s fantastic to see.
People start businesses for so many reasons, from the generic ‘I want some extra cash’ to wanting to be the first Cheese-Sculpting Business in the country (an actual business by the way). There’s really no right or wrong motivation to wanting to start. Of course in the current climate, starting a business doesn’t come without its risks, but if the outstanding rate of successful startups is something to go by, then it’s definitely worth giving a go.
In this article, we’ll be discussing some of the wonderful reasons why you should start a business this year. I hope that you find them insightful and motivating.
A Heightened Sense Of Pride
Pride and a sense of importance have got to be up there as one of the two best feelings you can have towards yourself. Starting a business will 100% do both. Everyone knows that going off on your own is tough and breaking away from the conventions of a typical 9-5 job automatically gives you a sense of achievement, rightly so!
Starting a small business or becoming a freelancer means investing your blood, sweat and tears and that alone is something that the faint-hearted shy away from, so if you decide to take the leap I can guarantee that your self-esteem will see a heavy incline.
And don’t forget it, a rising sense of self-worth, in healthy doses isn’t just designed for the egotistical but helps everyday people feel more socially confident, mentally stronger and overall happier, and who doesn’t want that?
You Want To Become Time Rich
There’s nothing worse than the feeling that your life is passing you by, this is largely due to the fact that the average person spends ⅓ of their lifetime working (not cool). The human race has been conditioned to believe that success is measured by how hard you work and the amount of hours in your day you spend doing so and not much else.
“Time Rich, is the New Rich”
A survey carried out by the International Entrepreneurship and Management Journal revealed some interesting statistics about the driving factors behind people that started businesses. The report showed that across 25 countries 38% of business owners stated that independence was their motivation.
Now don’t get me wrong, starting a business isn’t going to mean you can crawl out of bed at 2 pm and work for one hour a day (well we wouldn’t recommend it at least) but what it will do, is allow you take your life into your own hands and not spend it as a slave to the system. Want to go on holiday without filling out a request to do so? Go ahead. Want to work on the sofa and not at a desk? Feel free. You get the gist...
You’ll Develop Your Skills
The great thing about owning a business is that there’s usually no correlation between your academic success and your entrepreneurial success. It offers you a chance to develop the skills that you love and not just the skills that the curriculum has taught you, again you have a choice.
A huge portion of successful business owners don’t have college or university degrees, including Mark Zuckerberg, Bill Gates and Steve Jobs. Unlike the corporate world, starting your own business provides you with the opportunity to learn and develop your desired skills as you go.
Owning a business means continual learning, something that keeps many people motivated and interested in the day ahead. Over recent years there’s been this huge shift in our attitude toward self-growth and further education. Largely due to the physiological benefits of staying on top of things and what better way of developing skills, other than starting a business doing them?
You Can Focus On Your Passions
Starting a business is great, but deciding what your business actually relates to is another thing, but the best part about that, again, you get to choose. You have the chance to start spending your time working on something that you really enjoy.
An astonishing and frankly pretty depressing statistic by Gallup revealed that 85% of people worldwide don’t enjoy what they do for a living and a measly 15% of the world's working population feels engaged whilst in the office.
You have the option to not fall into that category, by turning your passions into a revenue stream. Let’s be frank though, not all of the things you enjoy in life will be able to make you money, for example, you enjoy watching UFC, but nobody is going to pay you to watch it.
The key is to turn your job into something that brings joy to your life. Look at everything that you find happiness from and parallel to that, think about the things that people are willing to spend money on, now find the overlap. And, just like that, you’ve found a successful business idea that incorporates something that you love.
It’s, of course, no secret that successful businesses can make a lot of money. And I’d imagine that it comes as no surprise that this reason made the list. After looking through studies an average of 23% of business owners started, mainly to increase their wealth.
To name a small few, Susan Wojcicki the CEO of Youtube comfortably sits on $350 million, Owner of General Motors, Mary Barra made a very comfortable $23.6 million in 2020 and the infamous Amazon Founder, Jeff Bezos has an astronomical $84.3 billion, the list really does goes on and on.
Unlike in the corporate world, there isn't necessarily a cutoff to the amount of wealth you can accumulate from your business, the world is your oyster. The shackles of working for someone else are endless and money is certainly a huge part of that chain.
The Affluent Academy has witnessed endless success stories from individuals that have gone from making minimum wage to earning upwards of 10,000 dollars every single month in a matter of months. The absolute only way they (or anyone) were ever going to do this in this time frame is by taking the leap.
I want to round off this point by saying that no matter how much you care about money, it should never be the only reason you choose to start.
Ready To Start?
As I initially said I hope that you’ve found this article to be motivating and the exact thing you needed to rethink your future. For me personally, the freedom I’ve gained is amazing, I now have the ability to travel the world when I want, see my family whenever I want and simply enjoy a sunny day if I want, and those things are truly invaluable.
Take your life into your own hands, start controlling your own destiny in ways that working for someone else will never allow.
If marketing related skills such as, writing, photography, social media, videography, seo, content creation are passions of yours, and you need help with starting, launching and succeeding at doing so, then check out the Affluent Academy.
By Jordan Platten, Managing Director