WHY DO YOU WANT TO START A BUSINESS

WHY DO YOU WANT TO START A BUSINESS

Facts have shown that there are too many unemployed and underemployed people in Africa than anywhere else in the world. However, it also seems Africa is set to become the largest continental base for small and medium enterprises. But as good as this may appear for the growth of the continent, the numbers have not been an advantage to us.
Research has also shown that a large percentage of small and medium enterprises freeze out of business within the first three years and one of the reasons for this has been stated to be people starting businesses for the wrong reasons.

Unlike the popular comment of the Nigerian President, Muhammadu Buhari, the majority of Nigerian youths may not be lazy but the truth is that the majority are either unemployed or underemployed. As a result of this dilemma, after enduring months of frustration at home or at the workplace, many are forced to become sudden entrepreneurs; seeking first to satisfy their personal needs and desires.

Roger Andersen, author of The Executive Calling wrote that "if you can't feel the connection between your vocation and your purpose, you will feel what you spend most of your life on has no significant value. As such, you begin to feel the need to find purpose outside of work." The truth of the matter is that until you have the right mindset towards your work, you cannot succeed in whatever you do; whether as a paid employee or as an employer. When you are doing the work, you get pleasure, satisfaction, and contentment as you are giving out value and without a doubt, values come back to you.

If you are however thinking to transit from paid jobs to entrepreneurship, and truly desire a lasting success in business, do not start a business for the purpose of meeting your needs. There are different reasons why people start businesses, and many for the wrong reasons such as meeting basic personal needs, frustration in the workplace, desire for independence among many others. Over time, I have realised that such businesses do not last.

The most successful people don't start a business because they lack a job or such other reasons. They start businesses because they see a need that should be met. Starting a business to meet your personal need is the lowest level of success. It's called survival success. Wanting to do something that addresses your personal need. Renowned Personal Development Coach, Brendon Burchard says it recently this way; "real successes happenwhen that survival quest becomes the service imperative. Meaning your motivation is to make a difference for others. You want to give not just get." Business is a means of exchanging value. You offer a value at a cost and you get value in return. If you have nothing of value that is needed, you have no business going into business. For real and successful businesses, it is value first and not money first.

Olukotun Gideon Olushola

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