Why are you going into business?

[Brendan]

Just read a recent post by Pete Williams ( Pete Williams - Yes, he sold the MCG for $500! - Aussie Tycoon (http://www.aussietycoon.com/showthread.php?t=76) ) over at his blog - Why Are You Going Into Business? Preneur Marketing Blog (http://preneurmarketing.com/?p=193)

Pete discusses that before we start a business and looking at profit margins, product costing, and all the typical planning figures, that we first need to decide why are we actually starting a business.

- Financial reasons? You Want to be rich?
- Is it a lifestyle choice? Want to work fewer, or even more hours?
- Control your own destiny?
- Be your own boss?

So, why have you decided to start a business and go it on your own rather than be an employee?

[rosshill]

All of the above :)

[J_D]

Haha, yeah similar to Ross. Many factors go into the decision to go it on your own or start your own business.

I guess for me it's for a) an exciting challenge b) to keep me mentally stimulated & c) some extra cash (long term).

JD

[crackers]

Same as above. I dont want to work for anyone buy myself

[bderich]

The reason I got into being an entrepreneur is because I hate the fact that some other guy is getting rich off my hard work in my 9-5. I make a very good living in IT but I know that the company I work for makes a hefty profit off me.

Not only that, I hope one day I will come up with an idea that will change the world for the better. Corny I know, but money shouldn't always be the motivation or measure for success

[J_D]

May sound corney, but if you can change the world for the better, who will complain? hehe

bderich, sent you a pm about something that can possibly have a very positive impact on the world. Look forward to hearing from you.

JD

[Slade]

Yep I agree with J_D, I am in business to make a difference.. whether it be from my business directly, or from investing my profits into good causes.

I have spoken to loads of entrepreneurs who say they never really experiences any greater satisfaction than using their money or position to do good, to make peoples lives better and to make the world a better place.

[J_D]

I have seen though, entrepreneurs losing focus on making money when they start getting overly involved in 'helping society' etc.... They wake up one day, satisfied that they have contributed so positively but then realise that they have neglected the runnings of their company for the last 3 months. Sometimes very damaging.

JD

[sforrester]

Id have to agree with JD here,

I think that one of the major benefits to success is the ability to help other people. I am very focussed on creating wealth for myself first off and then once I am established I would genuinely love to help out where I could do so comfortably

But that is just my 2 cents.

[escentre]

I think when you narrowly focused in making loads of money, you will gradually lose your focus on business as the provider in the communities that you are serving. Like employing low salary unqualified personnel and resort in using low quality materials. The key issue is to keep focusing on how to continuously leverage your business with having able people around you.
thanks

[Mark]

I would agree with bdrich, I spent 6 years building someone else's business from $3,000,000.00 to $16,000,000.00 pa.

Furthermore, I put in the hours and dedication you would expect to get that type of growth. However, now its time to do it for me.

Although it wasn't my real motivator, my real motivator was and is, my two young boys, I want to be in a position to take time off every single School holiday and spend it with them.

[HWT]

We are quite dull then. We already have a business developing *something* that could might possibly maybe make squillions and change the world, but its one of those *somethings* that takes a long time to do, so no money coming in for a while. It is, however, fun and used to take up the bulk of our time. We could technically do a business plan and go for venture capital and employ people and get it done quicker, but ... haven't. I also have a personal project that makes a little money that is quite straightforward and I should also expand but haven't. The reason for all the indecision and delaying and not doing anything is simple - a 5 month old baby and serious lack of sleep, we haven't done anything on the main project for well over a year now. My personal project is less intense so that has effectively become the primary project in recent months.

Meantime, our local computer store closed down for 'personal reasons' (the shop was incredibly average) and since there is no other computer store within a 90km radius of our house, we thought we might as well start our own for something else to do and maybe make a few extra dollars in the short term. There are also no web designers within an even larger radius, so we can also do websites for local businesses should anyone need. Hardly entrepeneural, not exactly large scale, but there you go.

[J_D]

Massive and World Changing?!?!? I know the feeling HWT..... I've got a few projects, but 1 in particular in planning.... unfortunately it's the one that requires the most time, and cash.

JD

[Go Jo]

We would all be in it for the money, or there would be no reason for it.

My newest adventure is for passive income to offset my Property Portfolio. (Boy do I need alot!):confused:

Regards Jo

[HWT]

I've got a few projects, but 1 in particular in planning.... unfortunately it's the one that requires the most time, and cash.

Its always the way. Our potential 'big' project could equally swing one of two ways - totally huge, requiring massive up-front capital to complete the agreement with the carrier, translate to other languages etc and also have very big advertising costs and be at the mercy of the carrier because they set the standards. Venture capital or other startup funding a must, no way we could do this alone. Would take about a year to complete if we had funding for extra staff.

Or, for the same amount of elbow grease (about 2-3 years work without extra staff), do something small and private and not mainstream that will never make more than about $200-300k a year, but will be completely in our control. Less legal issues and less competition too; as the months tick by we see progressively more and more things on the internet that are getting more and more similar to the 'big' version of our idea, but nothing that even comes close to the 'small' version.

We're slowly working on the bit that overlaps both options, and we'll probably end up continuing to work on it on the side and go the small, private path. We're not the out-there marketing type and we lack the charisma to push through a venture capital deal.

[Rory85]

To make money, to fullfil dreams, to do something I know I can do, to oneday look back on life and be happy that whatever the consequenes I didn't follow the crowd.

[brucecaine]

I think when you narrowly concentrated in constructing burdens of money, you will gradually miss your focus on business as the supplier in the communities that you are doing. Like utilizing low salary incompetent force and resort in employing low quality materials. The key issue is to keep focusing on how to continuously leverage your occupation with having able people approximately you.

[AlbionColt]

Hey!!!
If you really wish to start your own business then go ahead...
If you need any work place then you can go for "melbournebusinesscentre". You will like their services. I have used their services and found them good at my end.

[eurostral]

Creating wealth, job opportunities for others, and being in a position to give back to society.

Cheers

[Jay Elliott]

I think everyone has something different to contribute and when you are good at something and enjoy doing it you will be alot better at that task or creating a product then anyone else.

Our whole economy is based around finding the best value for money and that will come from someone who enjoys there work and is good at it. (This doesn't mean they have to be cheap just good value)

[AlbionColt]

I personally feel that no body loves to work under someone but everyone can't have his/her own business as it needs a lot of experience to handle task properly. If you wish to start your own business and are searching workplace then melbournebusinesscentre can help you.

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[Mikewell]

I prefer Email marketing because of the following reasons:
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3)Email marketing has proven very successful for those who do it right.

[Lawyers_at_Sydney]

Most entrepreneurs start their business because they are driven by a certain idea that they are extremely passionate about. For example, one of our clients used to work as a senior account executive in an advertising firm quit her job and decided to put up her own pet supplies store specializing in exclusive pet diet preparations and customized pet clothing and accessories. She has lived her life surrounded by pets and eventually decided to pursue her pet fancy canines and felines by entering the booming pet industry. The financial rewards aspect, according to her, is just the ripple effect of following that passion.

The services that she's offering are innovative and with her getting the right legal advise from our experienced commercial lawyers ensures her business strong protection against copycats and imitators off the bay.

[thynker]

Pretty much all of the originally stated reasons. Only starting out small but generally just looking to gain some exposure to the small business world before fully taking the plunge later on.

[Maxime Deux Gosses]

I agree with the fact that if you are only money focused you are going down a dangerous path. I want to let my creativity blossom as much as I want it to and control the impact I want to have in this world. Passion for what I do is the main driver in my work life.

[Boxerkid]

Almost all of those reasons.

Mostly,
- Control your own destiny.
- Be your own boss.

[Drew]

open your eyes... take a drive... look around... for every JOB there is a BUSINESS... why would you want to be the one working for a semi capped income when you could create, manage and do something you enjoy !

[pink_briefcase]

The best thing about having a freelance job is that you can be your own boss and work at your own pace without the pressures of working on a task under a limited time or scrutiny of a nagging manager. What makes it a unique professional undertaking is that you can turn it up into your passion and make a living out of it in the comforts of your home.

creative jobs moms
www.freelancefacts.com

[Lizzie]

The reason I am going into business are multitude.

I fell in love with the raw material that I am making my range of products out of, around 10 years ago, but only recently had the "lightbulb" moment of what to do with it - and it is very ecofriendly and unique.

I want to make enough money that I can give back in volumes that make a difference, and that I can comfortably live where I want and how I want (not location based). I also want the company to eventually run without me so we can travel.

I want to be able to be home when the kids come home from school, be here for holidays and attend school for events ... even if it does mean I am making up time at 2am.

I want to leave a footprint.

[offshorestaff leasing]

This is one of a kind post.

[Lizzie]

This is one of a kind post.

haha - I hope that was a polite reply and not a dig at my atrocious punctuation (which I have since rectified).

[almondthomas]

Business is good for earn money in life.When we do business that time we are owner the business and we can't do work under any one.We are the boss our company and we can do business very freedom.

[falku]

All of those reason which you mention in your post.... :)

[ProG]

I did it because I had enough of the corporate world for one... its not how good you are but who's ar$e you kiss that gets you ahead. I also wanted the freedom and to know that if at the end of the day that I make it or fail dismally, then it's all on me.

[AlbionColt]

Business should be structured to meet our life goals, not our profit targets. Sure they are important, but are we going into business just to make money, or to improve the overall quality of your life. We can set our own personal goals and desires for our business, and then build a successful business around these.