09 Jan Get Started! 11 Reasons To Start A Business Young
We all know that SMEs are the backbone of our country’s economy, but you may not realise it’s the under 35s who are driving the enthusiasm for start-ups. Emma Jones, founder of small business network Enterprise Nation has an insight into why: “Younger generations are no longer pinning all their hopes on finding the perfect job; they are taking their destiny into their own hands and creating a business around a skill, a passion or a hobby”. Here are more reasons why you should consider doing the same:
Be Your Own Boss
Control, control, control. That’s really what’s behind so many decisions to go solo. Entrepreneurs tend to feel they can do it better, more efficiently and more creatively than most, and never enjoyed being beholden to a boss who didn’t share their vision. Starting up your own business means your signature is the one on every dotted line. You pick the suppliers, you pick the clients, you pick the premises, you pick the product lines. It’s the freedom that’s exhilarating. If you’re a natural loner, fiercely independent, like to take leaps into the unknown, or territorial about your work, self-employed will suit you perfectly.
Choose Your Colleagues
One of the most brilliant aspects of being self-employed is that you choose who you work with. That means you can work alone or in a team you’ve hand-selected yourself. And they do not have to sit next to you- unless you want them to!
Take Credit (And Responsibility)
As an employee, you might well feel nobody appreciates your inner genius, or the hours you put in. On the plus side, if the project collapses, there’s usually someone else you can blame. With your own business, you can forget all that. Every success is your success and every failure is your failure. It’s tough but incredibly satisfying when things go well.
Take Motivation From Your Passions
Unlike many employees who just drifted into their line or work, entrepreneurs tend to have an absolute passion for what they do- or at least a very keen interest and some insider knowledge. Going to work is easier if you really love the service you provide or the product you make, and you are driven to improve all the time because of the vested interest you already have. Nothing is more motivating in the morning!
Fill A Gap In The Market
Many successful businesses started because someone saw a gap in the market, often because they personally wanted a product to exist so much that they had to create it because nobody else was! Think of Facebook, for example, or all those contenders on Dragon’s Den. If that’s you, don’t sit around waiting for someone else to make a killing with your idea.
Cut The Commute
Commuting can be a necessary evil, but no one enjoys it. With City house prices rising, especially in London, the tide is definitely turning in favour of working more locally to your home. This is not always possible for the employed because of where large companies base themselves, so going self-employed is one sure-fire way to consign this time-eating, stress-elevating part of your life to the bin…. forever! If you do need office space (or can’t handle the tedium of working from home), there’s always serviced offices- every small town has one these days (we run an excellent one in Wokingham, Berkshire) and you don’t need to put much commitment in; just ask for a one month contract for maximum flexibility.
Decide When You Work
We are not advocating staying in bed all day, but if the 9-5 grind bores you and feels like a straightjacket, setting up your own company will release you from that particular prison. The likelihood is that you will end up doing more work, not less, as work creeps into your evenings and weekends, but the huge pay-off is that you’ll be able to get your hair cut in the middle of the day, pop into the gym, retreat to the pub at lunchtime on a Friday, or wait in for that birthday present to be delivered or boiler serviced, without having to ‘ok’ it with various layers of HR and subtract it from an annual allowance. Even if your particular type of clients expect cover in office hours, you can always outsource this to a telephone answering service when required to maintain the professional image. Another service we are happy to provide to our virtual office clients.
Take The Profits
Know that feeling of having given your all to a project one month, yet receive the same salary as your lazy colleague? When it’s your business, the profits end up in your own pocket, so the connection between hard work and achievement is more fairly squared. Provided you stick on a successful path, you will have more to spend on the good things in life. A selfish reason but an excellent one!
You’re Young And Can Afford The Risk
If you’re going to strike out on your own, it’s good to have some experience, but wait too long and you’ll probably be too burdened by responsibilities- mortgage, children, loans- to have the freedom to do it. Leaving even a moderately lucrative job for a leap into the unknown is a hard decision, so rather do it now while there is less to lose. Your physical energy will be higher when you’re young too!
Have A Second Career
Maybe you don’t have the finances or courage to go it completely alone without the security of a monthly wageslip, but you do love the idea of an entertaining sideline. These days, no one thinks of you as a moonlighter; they’re more likely to respect your drive and commitment to your interests outside work. Establishing a second career on the side of your day job can be a great way to dip your foot in the water and see if a more definite step towards self-sufficiency is for you.
Make It Big
Not everyone gets to be Ben & Jerry’s, but if your ideas and strategy are good, your business stands as good a chance as any other. Outside of TV talent shows, starting your own business is one of the few, rare ways you can put yourself on course for mega success and mega money. You’ll need to be lucky as well as insanely driven, but someone has to make it big- why not you?
At Mantle we’ve loved working with new start-ups over all the years we’ve been running our Business Centres in Wokingham. We’d love to offer you a business address or answer your phone, so call us on 0118 9778599 to find out how we can help get your business off the ground. Good luck!