There are literally dozens of reasons to be an entrepreneur and start a business, says inc.
If you’re thinking of starting a business for any of these four reasons, you may be better off to think again:
The new Rockstars. It is true that successful entrepreneurs are the new rock stars–especially tech entrepreneurs. But the key word there isn’t “stars,” it’s “successful.”
Most new businesses don’t succeed. If you’re starting one to be the next scruffy or sassy young, wunderkind on a magazine cover, bad idea. Entrepreneurs who want to be famous make decisions and plans to be famous instead of start and run good businesses. They are very different.
Saving the World. It’s also true that nearly every single new company–again, mostly technology companies–makes a big show of their desire and ability to transform and improve the human condition.
That’s great. But that’s not a business plan. That’s what charities do. And most of them do it quite well. They are also, of course, non-profit ventures which means they are just about the opposite of a sound business venture. If you want to change the world, give your time, talents and money liberally but you’re likely better off to re-think your passion as a business strategy.
Getting Rich. Making money is a legitimate business purpose. Many could–and do–argue it’s the primary business purpose. But wealth is a by-product of a good business, not the goal.
If you’re entrepreneurship dreams are of you boarding your private jet for Monaco, call a time out. Not every entrepreneur strikes gold. Again, most don’t. And chasing cash rainbows can quickly distract you from making good business decisions that will solidify and grow your business.
Creating Jobs. Being able to hire and pay employees is amazing–it can change the lives of families and communities. But it’s not a reason to start a business.
Running a business is hard and chances are high that, when you do it, you’ll get to experience the highs of hiring and the lows of firing. More importantly, if you’re starting a business to put people to work, that goal is likely to stand in way of good business judgments about efficiencies and costs.
In a perfect world, your business may change the world, employ thousands and make you both rich and famous. But you shouldn’t make them business goals. There are other, better and longer-range objectives that will keep you in business.
Image: Piggybank via Shutterstock
