Starting new business surely is not for everyone, but anyway I want to recommend it to
everybody. There are a couple of reasons why even failing at running your own business
can make your life better.
The best part about setting up a company now is that you have nothing to lose.
You don't need to quit your job to start a company. You can work on a side project and
when you see it's getting traction you can spend more and more time on it. You can shut
it down anytime. Remember you are still young - it hurts more when your business didn't
work out while you have different commitments like family, loans etc.
Some people argue that this is not the best time for new challenges - we all hear about the
financial crisis, raising taxes.. History shows that it's simply not true and a good business
can start also during difficult times. There are many people who believe that a crisis is the
best time to start and I can't agree more.
Furthermore, nowadays it's easier than ever to find funding for your idea. There are many
incubators/accelerators backed by EU funds (first class red tape - no need to explain), but
there is also a huge network of business angels (private investors, who invest their own
money), VCs and more. In some countries there are even more incubators than startups...
I personally know many investors who want to put their money into new companies, but
there are not many good ideas out there worth investing. Why should you consider external
funding? It's simple:
1. You don't need to spend your own money to validate the product you create (security).
2. It helps in scaling your own business, like building your network, customer development
in Asia or USA, heavy marketing etc.
Running a company is tough. You need to deal with people - your employees/co-founders
can become your real friends but also you need to be careful because like everywhere you
can stumble upon people who just want to screw you over. But you need to deal with it and
being successful or not - you gain experience. One of my favourite sayings is "Experience
is what you get when you didn't get what you wanted".
It also helps you understand how 'the system' works. Even if you go back to being
employed somewhere else, you are better employee now, you can look at everyday
challenges from a different perspective, because you know how it is to run a business what
it consists of, you understand better what is expected from you and why it is like that.
Finally, I'd like to finish with a quotation by Winston Churchill: "Success consists of going
from failure to failure without loss of enthusiasm."
I'm really curious what is your opinion about starting your own business, so I'm waiting for
your comments, thanks!
everybody. There are a couple of reasons why even failing at running your own business
can make your life better.
The best part about setting up a company now is that you have nothing to lose.
You don't need to quit your job to start a company. You can work on a side project and
when you see it's getting traction you can spend more and more time on it. You can shut
it down anytime. Remember you are still young - it hurts more when your business didn't
work out while you have different commitments like family, loans etc.
Some people argue that this is not the best time for new challenges - we all hear about the
financial crisis, raising taxes.. History shows that it's simply not true and a good business
can start also during difficult times. There are many people who believe that a crisis is the
best time to start and I can't agree more.
Furthermore, nowadays it's easier than ever to find funding for your idea. There are many
incubators/accelerators backed by EU funds (first class red tape - no need to explain), but
there is also a huge network of business angels (private investors, who invest their own
money), VCs and more. In some countries there are even more incubators than startups...
I personally know many investors who want to put their money into new companies, but
there are not many good ideas out there worth investing. Why should you consider external
funding? It's simple:
1. You don't need to spend your own money to validate the product you create (security).
2. It helps in scaling your own business, like building your network, customer development
in Asia or USA, heavy marketing etc.
Running a company is tough. You need to deal with people - your employees/co-founders
can become your real friends but also you need to be careful because like everywhere you
can stumble upon people who just want to screw you over. But you need to deal with it and
being successful or not - you gain experience. One of my favourite sayings is "Experience
is what you get when you didn't get what you wanted".
It also helps you understand how 'the system' works. Even if you go back to being
employed somewhere else, you are better employee now, you can look at everyday
challenges from a different perspective, because you know how it is to run a business what
it consists of, you understand better what is expected from you and why it is like that.
Finally, I'd like to finish with a quotation by Winston Churchill: "Success consists of going
from failure to failure without loss of enthusiasm."
I'm really curious what is your opinion about starting your own business, so I'm waiting for
your comments, thanks!
Comments
@Natalia - 100% agree that running a business is only one of the options to gain experience and you can do that in different ways.
But the reality surprised me in a positive way. All those things you hear on the news or read in the internet telling you how difficult is for you to start a new business are not fully true. Of course it’s not a piece of cake but an average intelligent person should cope with it with not many problems.
Running my own busies has many benefits. I’m a captain of my own ship. If I like I take the next project to work with ( I write commercial applications based on SQL databases), or I don’t if I think that it will not make me large benefits. I can cut the expenses of fuel from example form my income and pay less taxes etc.
Of course I didn’t stop working on regular bases. I still go to work for 8 hours a day, and work on my companies projects in the evening. But in time I plan to make my own business my only source if income.
What this company is supposed to do? What are we selling? Or what service are we providing?
That part is hard, because you have to come up with something worthwhile and then even if you have it then there are other problems running the company. There might be competitors or you might just not sell your idea well enough to make profit.
I don't say you shouldn't do it. It's just not for me. Too much stress and risk
Cheers
Competition is huge and without great idea or simple idea with a lot of money is very hard but still if you are brave and have a lot of time to do paperwork and what is most important you know what should be done to stay on the market nowadays go ahead!