Call your small business what you want because the advantages of being a StartUp, Entrepreneurial Venture, Cottage Business, or Side-hustle remain the same!
If you have an idea but haven’t decided whether or not it is worth pursuing as a StartUp business; check out some of the benefits that are not to be overlooked.
Six Reasons to Be Fired-Up about being a StartUp
StartUp’s have agility by their nature. Without the traditional infrastructure heavy demands of an old-fashioned business i.e. they can streamline job-task-flow, StartUp’s are free to take a new approach. If they choose, owners can forego maintaining a physical store-front or office space.
StartUp’s are also capable of adjusting to emerging market trends quickly as they come onto the scene. StartUp’s are uniquely poised to become major disrupters as they can identify gaps and present alternative solutions to the way things are done. Small businesses can operate at speed & keep a holistic perspective that delivers high-detail to their clients. ( Of Interest; see RSA Disruptors 1 & RSA Disruptors 2 )
2. Be on the Crest of the wave of technological innovation
StartUp’s are not limited to staid ways of doing business, they do not have to forgo previous infrastructure investments. With fresh – and at times disruptive – ideas they can facilitate the creation of new technology and alternative uses to existing technology. They can also utilize their flexibility to take the risk of implementing brand-new technology.
Some StartUp’s have achieved remarkable success by pushing the envelope on technological innovation; thereby creating new markets to capitalize on.
3. Attract High Calibre Talent
Their agility and the degree to which they can access technological innovation are two reasons that StartUp’s can attract bright minds and high calibre talent.
Employee’s today are interested in alternatives to the soul-numbing corporate cubicle. The ability to exercise one’s talents and have one’s creative input valued is attractive to software developers, writers, and more.
People want to be passionate about the work they do and StartUp’s often afford this opportunity.
Employee owned company options and sharing in potential future profits can be another motivator that allows individuals who are full of ideas to dive into a StartUp even with an understanding of the existing risks that new businesses face.
4. Participate in a Global Economy
Never mind limiting your market to your neighbourhood or city – the StartUp model allows your business reach to cross borders. Go global in a world of increased connectivity.
This new way of doing business allows StartUp’s to avoid being tied down to local markets. A successful StartUp can reach consumers all over the world.
5. Make a difference
Address needs in your community or get actively involved with the issues that matter most to you.
Start-ups don’t have to take the shape of traditional product-consumer businesses. Whether it is finding a way for HIV positive Mothers to make an income or removing plastic from the sea, StartUp’s are poised to take on these areas and have the opportunity to generate revenue at the same time!
6. Design your own work-life balance
“Too much work and no play makes Jack a dull boy” the old saying is true for everyone not just Jack!
Work-Life balance is essential to our physical health, mental well-being, and the ability to create strong and meaningful relationships with family, friends, and community. StartUp’s can allow for employee’s to work from remote locations and may have a great deal of flexibility as to when work hours are completed.
Begin the StartUp Journey
Anyone who says owning your own business is easy would be lying as young StartUp’s do face challenges and require diligent work & intelligent risk management.
Nevertheless, before you dismiss diving-in realize that being individually invested in the venture’s success can lend the work a personal & passionate quality. This can make the problem-solving challenges and time needed a worthwhile investment.
If you have an idea and a solid business plan, what are you waiting for?
A StartUp allows your energy to be put into making your own dreams come true and building a future you can be proud of.
Are you ready to take on business ownership? Then be sure to see: 5 Things I wish someone told me about starting my own business.
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To Note: The above article is not to be taken as Financial Advice, it is merely meant to be informative & entertaining.