I’m sure you’ve heard or read many reasons why you shouldn’t get into business. But how many good reasons do you have to start a business?
Some of the common reasons against starting a business include:
- It’s not the right time economically.
- Businesses are going down and making people broke.
- Lack of time to run a business.
- Lack of money for the startup.
- Fear of the business impacting your relationships negatively, etc.
However, people are starting and succeeding in business despite all these reasons. Additionally, many run their businesses successfully while still in full-time employment.
There are more than enough reasons to start a business. Below are some of them.
This is an updated version of an article that was first published on the Create Your Dream Business blog. The article has been re-written for accuracy and consistency with the current times.
7 Reasons Why You Should Start a Business This Year
1. This is the age of the entrepreneur
The number of financial and non-financial institutions supporting small and medium businesses has increased. There’s also a lot of advice in both physical and online media. Not to mention that business startup books sell like hotcakes online and offline!
Overall, there is also a lot of support for anyone who wants to start a physical or virtual business.
We’re also in a good place because the COVID-19 pandemic opened up the world. Previously, you may have had to justify your virtual business ideas or struggled to get the business moving. That’s no longer the case as people have embraced working virtually and buying products and services online.
2. All the information you need is at your fingertips (literally)
Access to informationn is another area where the pandemic played in our favour. You can now do all the following from the comfort of your home:
- Identify business ideas that match your personality, skills, talents, knowledge and experiences.
- Research your selected business idea(s).
- Get free and low-cost training on how to start and grow any business.
- Set up your business.
- Find customers.
- Sell.
- Deliver.
- Get feedback from customers and the world at large.
It’s much easier now to get support online from a mentor, coach, accountability buddies, mastermind, and other online groups for different industries. So if lack of support and accountability are some of your reasons against starting a business, that’s been taken care of!
3. Freelancing is more acceptable than before
Whatever you do in your day job, you can take it a notch further and make money online as a freelancer in your free time.
- Online platforms that provide a place to conduct your online business have increased.
- You choose who to work with and the hours you want to work.
- You also command higher fees as your visibility and credibility grow on these platforms.
Another positive aspect of freelancing is that you can hire other freelancers to help you when your workload grows. So you get paid more without having to do all the work.
Here are some freelancing platforms to consider:
- Fiverr: This is a good place to start if you’re new to online freelancing. You learn the ropes without having to pay high fees.
- Freelancer: Also great if you’re starting and want a more credible space than Fiverr.
- Upwork: This is the same as Fiverr and Freelancer but with tighter requirements and monitoring.
- Guru: Similar to Upwork.
- iWorker: This platform provides work for English-speaking freelancers and virtual assistants from Venezuela and other developing countries. They match the freelancers with prospective employers. The best thing is that you’re guaranteed at least 5 hours of work per week from your employer once you get picked.
- Credo: For digital marketing services. They have a very tight selection process which increases your credibility if you get through.
- iWriter: This is a specialist platform for writers. They block countries if many writers from that region flout rules, as once happened to Kenya. iWriter also has periods when they stop accepting new writers. Check here to register as a writer or find out if they’re accepting new writers.
- You can also look for work on job boards on some of the large websites, such as Problogger and 99Designs.
This article by 99Designs provides a comparison of different freelancing platforms. You can also search Google for your specific freelancing skills if you prefer working with a specialized platform.
While these platforms give you a place to showcase your talent and get hired, there’s also competition and fees levied when you get hired. If you prefer a more independent approach, check out my program 12 Weeks to Startup and find out how you can monetize your expertise even if you have a full-time job.
I love working with online freelancers who handle their work professionally.
For example, this e-cover for my book 12 Weeks to Startup was created by a graphic designer on Fiverr. I’ve worked with her on a few projects. She always delivers even when she is booked solid.
I also work with a Kenyan graphic designer who has done great work for me since 2020. We’ve never met and communicate through WhatsApp and email. I’ve referred him to friends and clients who are happy with his work. He has a full-time job, so the freelance work is extra money.
I’ve spent a bit of time here because freelancing is one of the easiest ways to start a business, especially if you’re in full-time employment. It’s also a quick way to boost your income or create funding for your other goals.
If you’re interested in getting started as an online writer, check out Walter Akolo’s blog and courses on Freelancer Kenya. I took his online writing course in 2013, and it gave me a boost when I started blogging.
4. It takes little time and money to set up a business
In the past, starting a business required time and money. Additionally, you had to hire a lawyer and wait for weeks or months before your business registration went through!
Today, all this has been taken over by the internet. You can register a business name or company in Kenya at a low cost and print your certificate online once the registration goes through. You also don’t have to hire a lawyer if you are registering a sole proprietorship. Any Huduma Center near you will provide the service.
Government services in Kenya are easy to access through the E-Citizen portal. While some services still require a physical visit to the respective institution, you can get the requirements and fill out forms online.
Even so, it’s important to note that you don’t need to register a business if you’re a freelancer or consultant. You just need to identify your core marketable skill, market your services, and get clients. Just remember to declare this extra income in your annual taxes.
This article on WikiHow has instructions on how to register a business in Kenya through the e-citizen platform.
5. Freedom
Freedom is one of the main reasons why people get into business. You make all the decisions, set your schedule, and decide on your income.
You are free to implement some of what you cannot in your job. Additionally, you get paid to do what you love, sign your own paycheck, and decide what works for you and what doesn’t.
Financial freedom also allows you to be more creative and uniquely utilize your skills and talents.
6. Create your ideal lifestyle
Business is one of the easiest ways to achieve your financial goals. Since you’re able to determine your income, it is possible to live your dreams.
If you want to live large and don’t mind publicity, you can merge your personality with your business and become a brand yourself. We have examples of celebrity business people like Richard Branson, Donald Trump, Oprah Winfrey, etc.
The only things that would hold you back from achieving your ideal lifestyle are yourself and your initiative.
7. Leave a legacy
One of the best offshoots of your own business is that you can leave a legacy for your children, community, or the world at large.
Your business will also increase your visibility in the community. So you can become an opinion leader on the issues affecting your community or country.
Finally, as you grow, you can mentor upcoming business people or share your knowledge and experience with others in different ways.
Need help starting your business?
This list of 7 reasons to start a business is not an exhaustive one. If you still need convincing, check out this article with 50 reasons to start your own business.
If you’re ready to monetize your expertise, I invite you to check out my course 12 Weeks to Startup. This course will help you identify the business you’re most likely to succeed in, research it, set it up, and get paying clients in 3 months or less.
This course is the exact coaching process I use with business startup clients. It’s a time-tested process I have used to set up two coaching businesses (including Biashara Threesixty). I also use the same process when creating a new product. The course itself is one of the products set up using the same process.
Are you interested? Get more info here.
(Photo by Brett Jordan at Pexels)
