MOTIVATIONS FOR STARTING A BUSINESS: Women are more likely than men to start businesses to achieve a work-family balance. Women also more often listed a desire for self-fulfillment and job satisfaction as reasons for starting a business and wanted to be challenged personally and have self-determination. They also are more likely to start a business to gain the recognition of others. Men are more likely to start a business to make money or build a company.
My Advice: Be sure you are starting a business for reasons that are close to your heart. Whether it's to spend more time with family or to build something using your creativity. Remember building a business and being an entrepreneur is very different than being an investor in a business. They are two different animals!
I was involved with a franchise start-up a few years ago. I had several partners at the time and the business had a very successful launch and is still doing very well today. However, it wasn't the type of business that interested me very much. I believed in the concept but there was no passionate involvement from me. I wound up having disagreements with my partners, which is very normal, but the business became more of an investment for me where I ended up cashing out early. Had I been more emotionally attached to the idea then I probably would have put more effort into making the partnership work.
So, what are the reasons for starting your business?
2 comments:
Great article. It got me thinking about why I want to buy a business. I still want to, and I'm in the process of finding that perfect one. Would you be able to direct me to an appropriate site? Thanks
Alex, I would check out your local chamber of commerce and/or the sba. I'd also check out this site called Biztrader.com. It's a good place to find a small business on the Internet and a good place to just invest in a business. It also has a wide variety of businesses for sale, so I'm sure you'll find something you like. Good luck searching!
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