What are ‘business benefits’?

  • They don’t get the point. They don’t see the reason to do it.

    Believe you me, all activities in the universe are triggered by energy. Energy is ignited by a thought, which comes from the MIND. The more intense the energy, the bigger the activity.

    Thoughts are powerful because they become ‘things’.

    For someone to start a business they need a motive, which is where we get the word ‘motivation’. Motive is the Greek word ‘kinitro’ (κίνητρο), which means ‘incentive’.

    Shockingly, most people start a business for the wrong reasons.

    Sadly, most people don’t start a business because they want to. In fact most people go into business because they have no other choice, either because they don’t have a job or they lost their job.

    Others start a business just to make a few extra bucks.

    Others start a business for the money.

    Others start a business because they want to be rich.

    Others start a business because they have a calling.

    Whatever the reason, here are 6 reasons you should never start a business:

    1. You’re running away from something – Don’t start a business if you’re running away from your job.
    2. You’ve just come by a large lump sum of cash – Invest your money in the stock market instead.
    3. Everybody is doing it – Don’t even try it.
    4. You want to be your own boss – You will just be exchanging your boss for another set of bosses called customers.
    5. You want to spend more time with your family – The more you spend time with your family, the less money you will earn.
    6. You want to be a millionaire – Are you prepared to pay the price? This means losing your precious TV programmes, your precious friends and all those beer binges, your family and sometimes, even your spouse.

    The biggest reason why most people don’t have the courage to start a business is because the failure rate is very high (90% or more) according to most studies.

    People are not stupid. If you think people don’t read about these things you’re probably still in the stone age.

    People don’t have the courage to start a business because of the high risk involved.

    People FEAR losing their hard-earned cash.

    For this reason, the person who goes into business and remains in business for at least 5 years without going bankrupt deserves accolades. For 10 years and he/she has passed the ‘litmus test’.

    This explains why most people go back to finding a job even after being in business for a couple of years.

    People FEAR discomfort.

    The idea of being broke, not able to pay rent, not able to buy food, living off other people’s handouts, not to mention the shame of begging, scares the hell out of most people.

    People FEAR failure.

    We’ve been trained all our lives never to accept failure. This point plays like a song daily in our subconscious. How then can we think of success when there are so many business casualties all around us and in the news?

    People FEAR success.

    The media has done an over-exaggerated job of glorifying success with all its trappings and associated it with business success, entrepreneurship and the millionaire lifestyle.

    Pictures of a celebrity sailing in his/her private yacht with a bunch of friends among a company of bikini-clad girls in the Mediterranean, or some rich kid posing in front of a slick Lamborghini at their Malibu or Hollywood luxury home splash across the pages of tabloids daily. This scenario doesn’t even for a moment, escape the hawk eyes of jealousy across the nation.

    Surprisingly, some people FEAR this kind of limelight, preferring instead, to spend a quite life at the comfort of their permanent, secure 9 to 5 job waiting for their 401(k) retirement package and a serene environment with the birds singing lullaby for the rest of their remaining years.

    Most people procrastinate over the idea of starting a business.

    Many people will never start a business because they will never develop the courage to overcome procrastination. For those who are wondering, procrastination is just a fancy word for ‘lazyness’.

    To start a business takes courage.

    More importantly, to succeed in business takes more than just determination, perseverance, persistence, passion and FOCUS.

    It takes more than just a desire to make money.

    It takes more than a desire to become rich.

    It takes more than a passion to continue even when there’s discouragement all around you.

    It takes a burning desire to serve people and to show that you care.

    It takes the desire to provide a service even when people don’t pay you.

    It takes the ability to see the future even when you don’t see the money now.

    It takes FAITH.

    I’m sorry if I make this sound very difficult, but that’s just the way it is. I wish I could make it any easier, and I know some people will disagree with me on this but then everyone is entitled to their own feelings and opinion.

    Lastly people FEAR to learn.

    The secret to business success is in books. PERIOD.

    Learning is the key to business success and yet, people FEAR to read.

    It takes a great deal of effort to develop a passion for reading and still a greater deal of effort to develop a habit and a reading culture, especially the kind of reading centered around self-development.

    Developing a reading habit, especially of success stories in business, builds a person’s confidence, self-belief and faith, that they, too can do it if other people have done it in the past.

    The saying is true:

    “What one man can do, another can do.”

    This only comes by way of reading books.

    The idea of reading books is not new. Every successful person I know whether a president, a businessman, businesswoman, entrepreneur, lawyer, accountant, doctor, etc., has a library of books.

    There was a time I had more books than I had clothes.

    Reading as many business books as possible is equivalent to investing in yourself. It equips you with the understanding of business, business risk and business failure, and prepares you psychologically to face the unknown and to expect the worst without FEAR of risk, failure or shame.

    The higher the risk, the higher the return. Similarly, the lower the risk, the lower the return. That’s why some entrepreneurs who take higher risks to start a business reap returns that are sometimes considered obscene.

    In several of my answers on Quora, I have recommended many business, success and entrepreneurship books to people who have asked for them.

    Believe me, 90% of people never have the desire to develop themselves after graduating high school or college.

    Much worse, most people only advance themselves for the purpose of seeking a promotion, change of jobs or advancing their career, but never to enhance their financial knowledge.

    Most people never see themselves doing business anyways, so why study business?

    I’ve already discussed the high risk involved in running a business as well as the high failure rate associated with business.

    These factors, alongside discouragement by close friends, relatives and colleagues puts the ordinary mind at rest, permanently dismissing the idea of ever starting a business.

    If you enjoyed reading my answer consider giving it a vote. And check out more similar answers on various topics like business, success and life at my Quora profile.

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