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What are the reasons for setting up your own company?

By aliszja Apr 28, 2014 572 Words
What are the reasons for setting up your own business and why are some entrepreneurs more successful than others? Have you ever wondered how it would be to run your own business? I am sure you have, because that is one of the most common dream that comes to peoples’ mind at some stage of their life or career path. Unfortunately, in most cases the idea gradually vanishes because of the lack of good plan, changing words into deeds and simply courage. Why do people set up their own business? And what does influence the success in this desirable job? In this article I will try to look closer at the issues connected to running a business. There may be many reasons because of which people set their own business. First that comes to my mind is obviously money. If you know someone running his own company, he is probably doing well in his life. People who manage to think of a good idea of a business and make it come true, have a machine to make money. When you already have this machine, the only thing you need to do is to use it properly. The profit your company makes is your ownership and you are the one who decides how to divide it between your subordinates if you have any. They say “money does not give happiness” but lack of it is much worse. Setting own company somehow gives an opportunity to have a lot of it. The second reason I can think of is independency. Having own business is usually associated with being free in what you do for a living - no fear because of being late for work and no “tough” obligations drawn by your boss to meet. Well, it does not look like this in real life at all, but the fact is that the only boss you have is…you. People like to have power and control over as many aspects of their life as possible and a job is one of the most important. Independency in a matter of a career means you have been successful in your life. And the last, but not least, is personal fulfillment. Having a business is a kind of your own achievement. It shows how successful you are in your career which is to some extend a determinant of your intelligence, creativity and courage. It gives confidence and make you feel proud of yourself. Unfortunately, not every entrepreneur is equally successful. The main reason for that phenomenon is the type of company you set. The idea of a business is really significant in a matter of its further luck. If there are 20 pizzerias on Kamienna Street in Wrocław, there is no point in building the 21st. Entrepreneurs whose ideas are more original and “fresh” have better prospects to prosper well on the market. Moreover, there are people who have the ability of managing inborn and people who need to learn how to do this from their own experiences. The first group might be more successful than the second because of creativity or confidence on the market. Having these features helps in case of competition which inability to deal with is a really frequent reason of one’s failure. The process you set for the products, the way you do business with people, the whole marketing staff are just examples of the way of one’s management style.

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