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 ) over at his blog - Why Are You Going Into Business? Preneur Marketing Blog

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