Z4S Why do People Start Businesses

Hi, Victoria here, author of Zest for Success. And my why question for today is why do people start businesses? There’s really three reasons that people start businesses. One is they finish their trade, whether that be a plumbing trade or a building trade or a university degree, they finish whatever that is that they’re studying. And they may be out of a job where they were doing an apprenticeship, or they may just want to go out on their own. So that is the first reason that people start businesses. The second reason is they’re doing a job, and they get really sick of their employer and thinki you know what, he makes way too much money, I can do it better than him, I can make better money doing it myself, than what I can do working for him or her. So that’s the second reason that people start businesses. The third reason that people start businesses is generally to do with redundancy, where they’ve been in a position that’s being put out, hopefully, they do get a payout, but they can’t find employment. And they go well, the only other way I’m going to make money is to make something of myself. So that’s generally the three reason that the people that people start businesses, running businesses is a different situation, it may be something they have a payout and they want to buy, they just decide they don’t want to work for someone else anymore and they want to go and buy a business, because sometimes it is easier to buy an existing business than to start one yourself. But the big thing about doing it that way, is it you’ve really got to continue with the business the way it was run in some way. You can’t go down the track of going my business, my way. So and the other reason that people do get into businesses, it may be passed down from a family member as well. So we know why people start businesses. We know why some people do buy businesses. So I hope that’s helpful. And we’ll see you on the other side.

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