Peter Drucker, one of the most influential business thinkers of the 20th century, famously said that "The best way to predict your future is to create it."
And what better way to create your own future than to start your own small business?
There are many reasons why you should launch a small business of your own. And we'll explore these reasons in this post. Not only that, you'll get several easy-to-follow ideas for starting your own small business. Let's get started.
Exercise more control over your life
First, the biggest reason to start your own business is to not have to depend on external parties like your company or boss to impact your life.
Jim Carrey's commencement speech at Maharishi University of Management's graduating ceremony highlights the importance of trying something different.
Carrey said that his father had the talent to become a comedian. But because he had 4 children to look after, he took up a more conservative role and became an accountant. However, he was let go of the job and the family struggled to the point where they had to live in a van to survive.
"You can fail at what you don't want, so you might as well take a chance on doing what you love", Carrey said. And it's a powerful quote that's worth thinking about.
Starting a business is hard but it's no worse than playing it safe and failing anyway.
Build new skills
Second, starting your own business is a great way to learn new skills and gain valuable experience. Even if your business doesn't ultimately succeed, you'll come out of it having learned a lot.
For example, if you start a business in the food industry, you'll learn about food safety, marketing, people management, and accounting. And you can always transfer most of these skills to a job. And it's important to realize that since you're taking a lot of responsibility and have to be creative, you're building experience that's valuable in more mainstream careers. Even if your business doesn't work out, you come out of it with a solid experience.
And what if you're not sure what kind of business you should start? You'll have to get proactive and actively build skills that you can use in your business. You'll learn things like coding, web designing, digital marketing, people management, project management, and more.
When you build your skills, you'll be a better business owner. And you'll have top-notch skills you can transfer to other jobs and areas of life.
Generate additional income
Next, starting a small business can provide much-needed additional income. And it's a great way to supplement your current income or even replace it entirely if you're looking to become financially independent.
There are many stories of people who started businesses on the side and eventually replaced their full-time income with it. These include businesses like e-commerce stores, web design, and consulting services.
So if you're looking for ways to generate additional income, starting a small business is definitely something worth considering.
Make an impact on your community
Starting a small business is an excellent way to make a difference in your community.
If you start a small business that provides a needed service or product to your community, you'll not only be doing something you're passionate about, but you'll also be making a positive impact on the people around you. Not to mention, you may have to hire people and this creates job opportunities for others.
And what could be more rewarding than that?
There are many other reasons to start your own small business. These are just a few of the most important ones. Now, let's get into some specific ideas for businesses you can start.
Small business ideas you can use
Here are seven simple business ideas that require small investment (or even none at all) to get started.
- Start a blog. You can build a blog around topics like cooking, parenting, technology and anything else you can think of.
- Build a craft and hobby-based business. Sell hand-made goods, offer lettering services, or work with a printer and a cricut tool to make anything from custom shirts to wall decals.
- Offer coaching and mentoring services based on your experience and expertise. You can help people achieve their goals, brainstorm ideas, get fitness advice, and more.
- Leverage content marketing tools and work as a copywriting freelancer or even start a content marketing agency.
- Start a social media agency. Help businesses with their social media presence by creating and managing their accounts.
- Do you have a green thumb? Start a gardening business where you can offer landscaping, lawn care, or even plant-based products like soaps and lotions.
- Start a pet sitting business. Offer to take care of people's pets while they're on vacation or working long hours.
These are just a few ideas to get you started. If you're looking for more ideas, there are plenty of resources out there to help you find the perfect business idea for you.
But the best idea is to leverage something that you're already good at. You can also build skills in marketing and other areas to help you succeed.
Back to you
Starting your own small business is a great way to learn new skills, generate extra income, and make a positive impact on your community.
There are many different businesses you can start, so it's important to choose one that's well-suited to your interests and skills.
With a little bit of research and planning, you can be well on your way to starting a successful small business.