Is starting a business worth it is the discussion in today’s podcast episode?
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Is starting a business worth it?
That is the question that I get asked time and time again.
I always respond with “How can it not be worth it?”
You see, earning your own money, in a way that is good for you and your family is amazing.
You decide how much you want to earn each year.
Work at getting systems into place to attract customers to your business.
Then scale, scale, scale like a lunatic.
Of course that is the flippant and easy answer for sure, as there is so much effort that goes into starting a business.
That is what people are really saying when they ask that question.
Not “Is starting a business worth it?” but actually.
“I know this is going to be tough, and i’m not sure I really want hard times, so convince me”
Actually we have over two thousand podcast interviews that can convince you amazingly well
The First Thing To Consider
What are the reasons that you are considering starting your own business?
If it is something along the lines of “Hating my boss, hours, wages” then get another job.
Everything that people generally moan about when they talk about work can be sorted easily.
Look for a new job, make better decisions as to who you are going to work for and go for it.
Pain points can be solved very easily for sure.
If however, you like your job and the wages, but there is something pulling you to start your own business.
That is a different matter altogether.
So which one are you?
Are you just dealing with some crap that getting another job will make better?
Or are you really considering if starting a business is worth it, as you know that you are being drawn to a different direction.
Is Starting A Business Worth It Consideration Point Two
In hindsight I would have done a lot of things differently as I built my business.
Now it is a roaring success everything is easy.
However at the beginning I started throwing too many things at the wall.
Seeing what would stick.
Trying this and that out to earn cash.
Bad mistake and advice that for anyone considering the question “Is starting a business worth it” you must be sure on.
A business isn’t just about earning cash, its about making life better for yourself.
Going to work can of course be soul destroying.
You have to get there at the right time.
You have to take orders from people higher up the ladder.
Most of all you are being directed to do things that most people wouldn’t do given a choice.
This is the next big question to ask yourself.
What do i really want to do?
If i could wake up every morning and think “Yay, another day working on my business!” then what would it be?
Get that that right and your big question of “Is starting a business worth it ?” will never be asked again.
Consideration Point Three
I see time and time again people starting a business without asking this question.
How much do i need to earn each month to keep my lights on?
That is an amazingly precise starting point to building a business, but rarely people can answer.
They give a woolly answer about monthly direct debits they have going out.
However what about the annual stuff, the emergency stuff, the little luxuries every now and again?
So let’s ask that question again.
“Is starting a business worth it if it brings me in £1,000 per month working for 40 hours a week for the first year.
Then in the second year it will deliver $3000 per month working 20 hours per week.
Lastly third year, the in-comings are $10,000 per month working three hours per week.
If that was the case would you ask “Is starting a business worth it ?” of course you wouldn’t.
You would know where you are heading and making it happen.
Is Starting A Business Worth It Consideration Point Four
Many people have a desire to start a business that runs on automatic pilot.
They wake up every morning, look at their bank account and smile broadly.
I can understand it, as i guess this is the dream for sure.
However how do you think that dream occurs?
How do you think someone goes from a job they don’t like, to the dream position everyone wants?
They work like crazy-balls, until they don’t have to work the same anymore.
They will (unless they have some magic wand that I don’t know about) literally drive themselves into the ground.
So is starting a business worth it, if you have to do this?
I’ve been there and done it and I can say 100% its not worth it at all.
The downs exceed the highs, massively.
You can check out other peoples points of view who were asked this question here.
However….let’s look at it another way in our last consideration point.
Is Starting A Business Worth It Consideration Point Five
Throughout this article we have tried our best to give you good advice.
The kind of advice that we would have liked to give to ourselves if we had the chance again.
The advice that would have kept everything balanced and healthy in our life throughout the build.
We didn’t get that chance and did most things wrong in hindsight.
So the last point we need to make when answering the “Is Starting A Business Worth It ?” question is this.
If the effort that it takes is too much for your health then no.
Or the effort that it takes is too much for your family then no.
If you lose friends and relationships along the way then no.
Definitely if you have to threaten your existence by risking everything you have then no.
However if you can find ways to leap past all of those and start earning your own money.
If you can find ways of keeping control of your time.
If you can start work when you want, where you want, and make more cash than ever.
Then there is only one answer.
Is starting a business worth it ?
Absolutely in every way possible.