From the course: 20 Questions to Help You Start a Business

Why are you going into business?

From the course: 20 Questions to Help You Start a Business

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Why are you going into business?

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- The question is so obvious, it's a wonder many entrepreneurs fail to ask it. And the question is why are you going into business? The driving force for many entrepreneurs is to get out of a horrible job. Others are just those ambitious kids who sold lemonade and mowed lawns. It's just what they do. But those aren't reasons enough. When you don't ask why, you may very well end up just buying yourself a job that requires you work harder than the normal job that you already hate and take on new risk to boot. You don't want your business to just be another job. That means taking the time to learn how to create a business that achieves your why. My why is that I want freedom and control over my time. To do that, I need control over my money. So my goal is freedom of time and money is a tool to achieve that. That actually aligns with most entrepreneurs, but many don't take the time to identify this upfront and so they make the crucial mistake of not building a business that enables their freedom. One of my mentors is Michael E. Gerber, who authored the book "E Myth." it's a book that every entrepreneur should read. It teaches you to work on the business, not in the business. Accomplishing that requires systems and processes. And you don't want to have to build those while you're also learning to run your new venture. You can plan for that in advance and build what I call an opt-out business, one that allows you time and freedom. So go ahead and take the time to identify your why. The longterm success of your business depends on it.

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