Digital Marketing, Small Business Strategist

Confident Marketer

  • Home
  • Get Started
    • Build Your Business Plan
    • Organize Your Marketing
    • Prevent Overwhelm
    • Gain Confidence
    • Products
  • Consulting & Coaching
    • CEO Circle Community
    • Business Consulting
    • One Time Consultation
  • Sue’s Blog
  • About
    • About Sue Painter
    • Testimonials
    • Leave A Testimonial
    • Media
    • Speaking
  • Contact
You are here: Home / Lead Your Business / The Benefits of Starting a Business – Know Your Why

The Benefits of Starting a Business – Know Your Why

February 15, 2014 by Sue Painter 10 Comments

 

What are the benefits of starting a business for you?

Small business owners are as varied as flowers in a garden. We all come to our business for a specific reason and with a specific vision of our business in mind. It's critical to know why you are in business, because that why will sometimes fuel you past the discouraging times that all small business owners have. It will also impact your business decisions.

Often, I talk with a small business owner and find out that she opened her business because she wanted out of a bad situation at work, or had been laid off. These are not good reasons to open a business. To be successful at building your business to profit you have to know what you are moving toward, not just what you are running from. Otherwise, when the going gets tough (as it will when you own a business you're serious about) your ‘why' won't sustain you.

Here are five reasons that might be the “why” of your business:

  1. You want a business for money to live on. 
  2. You want to build a business and leave it as a legacy for family members.
  3. You want to build your business specifically to sell it in the future.
  4. You want to create and sell this business, and then go on to create and sell a series of companies.
  5. You want your own business for better income and more flexibility than you currently have in your job.

Being aware of the “why” in your business is critical because it will impact your business model and your long term planning. When we just “fall” into a business we tend not to see ourselves as business owners. We don't wear a CEO hat. Our business isn't serious, doesn't take priority with us. Planning a business out and “falling” into business are two different things with two different results. 

benefits of owning a business

What is your why for starting your business? Where do you want it to be in three years? In five? How does your why impact your day-to-day decision making? 

Here are a few questions that can help you get clear on your business and your brand.

  • Why are you in business? How does it benefit you? How does your business benefit your customers?
  • Is your business your sole financial support? If so, how much money do you need to take to the bank from your business?
  • What are your weak areas, things you need to learn in order to sustain your business?
  • What are you good at, things that come easy for you?
  • How many years do you see yourself in business?

After you think about these questions, you can also read more about being a leader for your business by clicking here.

SHARE THIS ARTICLE

Filed Under: Lead Your Business Tagged With: benefits of starting a business, Brand clairity, Sue Painter

Get your copy of "20 Questions to Help You Expand Your Business Without Frustration or Overwhelm©"

I understand I will also receive email updates from Sue Painter or from the Confident Marketer. We never rent, sell, or share your contact information. See Privacy Policy​​ here.​

Related Posts

  • How Customer Perception Impacts Your Sales Success
  • Is Social Media Marketing Worth What It’s Costing You?
  • 7 Ways to Boost Your Wellbeing During Pandemic

Comments

  1. Jennifer Bourn says

    February 27, 2014 at 4:48 pm

    Sue – I love this! I love that you’re really starting at the foundation of why we do what we do, why we have a business, why it is important to us … when we have that clarity, actions do become much easier!

    Reply
    • Sue Painter says

      February 27, 2014 at 5:53 pm

      Yes, our “why” fuels actions out of our comfort zone.

      Reply
  2. Mitch Tublin says

    February 23, 2014 at 10:56 pm

    A critically important step in creating your business is to define your ‘why’. Fully agree.

    Reply
  3. Mira Dessy, author The Pantry Principle says

    February 23, 2014 at 9:00 pm

    Definitely something to think about. I know that I’ve had to think about what the future holds as my business is such a niche market that none of my children will ever want to take it over. And I’m okay with that. But it was interesting to follow your suggestion and think about what that looked like and what it meant.

    Reply
  4. Trudy Scott Food Mood Expert and Nutritionist says

    February 23, 2014 at 7:41 pm

    Good questions to consider. I like Jessica’s comment about freedom! I also think leaving a legacy and/or making a difference are part of the picture for many people – it certainly is for me
    Trudy

    Reply
  5. Tiffany deSilva says

    February 23, 2014 at 4:06 pm

    Great stuff, Sue! Figuring out the why behind your business is the #1 most important thing you can do because, as you stated, it is the fuel that will keep you going when times get tough–especially if it is a very strong “Why.” I have found that some why’s are more powerful than others.

    Reply
  6. Lisa Manyon says

    February 23, 2014 at 1:00 pm

    Sue,
    Examining the “WHY” is so important. AND sometimes it can be multi-layered.
    What’s your big “WHY”?
    Write on!~
    Lisa

    Reply
  7. Jessica says

    February 22, 2014 at 10:13 am

    One word- FREEDOM! I love having the freedom that comes with having my own business!

    Reply
  8. Mary Ellen Miller says

    February 20, 2014 at 6:19 pm

    Good points to think about Sue!

    Reply
  9. Katherine C. H. E. says

    February 18, 2014 at 3:48 pm

    As always, great questions to get the internal wheels turning, Sue! <3

    XO, Katherine.

    Reply

Join the Conversation Cancel reply

Sue Painter

Search

JOIN ME ON FACEBOOK

Sue Painter, business consulting and coaching

Contact Sue

Voice: 865-414-3393
Skype: knoxvillesue
E-mail: Sue@ConfidentMarketer.com
Contact Form

Knowledge Center

Search

Meet Sue

Passionate about helping small business owners create income with confidence, clarity, and big vision. Certified Book Yourself Solid Coach, and expert author for ezinearticles.com and SelfGrowth.com.

EPC Insitute LogoBook Yourself Solid Coach Amazon Best Selling Author Certified Agile Marketing Specialist Badge Intellifluence Trusted Blogger badgeSue Painter's Intellifluence Influencer Badge
Ezine Articles Expert Author Blogspot - Top 100 Business Coach Blog Award Find Sue Painter on Amazon Social Media Marketing Society 2021 Member badge

Refund Policy • Disclaimers and Legal Rights
Affiliate/Earnings Disclaimer • Terms of Use • Privacy Policy

© Copyright 2010 - 2021 Confident Marketer

Consulting and Online Training for Women Entrepreneurs
All Rights Reserved