3 reasons why starting a side business is a great idea
Having your own business is something that almost everyone dreams of- something they are passionate about, want to explore more, and want to carve a future out of.
However, many people step back owing to different reasons like a full-fledged set of responsibilities, fear of ownership, dealing with downfalls and negativity, or the uncertainty of making profit out of a business or building business out of a crisp idea.
Here is a question all of us must ask ourselves-
If we are willing to work for someone else for the next 30 years of our life after spending so much money and time on our education for 22 years, why can’t we work for ourselves? Why cannot we put that education and our experiences into creating our own business? Why do we hesitate to fail and resort to working for someone else’s success till we retire?
While there may be multiple replies arising from multiple outlooks to these questions, one answer that remains common is the fear of “What if I fail?” While this goes for any new endeavors in life, and not just business, we must know and understand that starting with a new change can be as challenging as it gets.
However, the fear of failing or not accomplishing the set goals should never stop us from working towards what we want.
With the rapid pace of growth in technology and digital advancements, almost everything can be done within a few clicks.
Also Read:-Shift in business ideas- Then V/S Now
There are various platforms on the web to help you with factual information within a few searches. With various other small businesses evolving, it is time you start your own side hustle.
Here are the best 5 reasons you should start a small business:
1) Freedom from cubicle
How many times have you felt unmotivated and uninspired while working your 9 to 5 job? How often do you look at the clock and wait for it to strike 5 and end your day at the office? Probably several times a day.
While a typical 9 to 5 job is desired by many and offers you a lot of opportunities to flourish, you can become restricted to a particular type of work assigned to you, or even worse- your cubicle. In the long-run, this may make you disinterested in your work and affect your zest and passion to move forward in life.
Starting your business will keep you on your toes at all times, while giving you something new every day to be excited about and work towards. You will meet new people, hear stories of entrepreneurs from around the world and connect with them, and upgrade your skill set.
2) Be your own boss
Having freedom over what you work on, how you plan and execute it and tackling the hurdles on the way is something many wish for. You can get total control over how you want to do your business- how to market your product, how to handle your CSR, when to launch new products, and other aspects. As a subordinate, you may not have the power to take
managerial decisions and decide what’s best for the company on a greater level.
However, with your own business, you gain the authority to work in an administrative position and manage everything- right from the bottom level of the funnel to the topmost. Additionally, having no one to look over makes you more attentive and focused towards your goal, while also giving you the satisfaction and flexibility to enjoy and schedule tasks as per your preference.
3) Great Passive Income
You could be great at what you do, even better than others with the same skills as yours, but earn way less than your potential. This ranges from industries to positions held by people. Paying rent, clearing debt, saving up for the future, and paying everyday bills can be difficult to manage with a single stream of income, especially with everyday soaring prices of basic necessities.
A side business makes for a great stream of passive income, along with your monthly salary. With some determination and perseverance, you could see your business flourish and earn more than it did in its first few months.
Also Read:-Significance of pre-planning in running business ventures
A young businessman who has been in the line of entrepreneurship for quite a few years. He is an active learner and loves to know more about new technological developments coming up as well as how they can be put to great use to yield better results for society.