You might be saying to yourself, I am so busy now, why would I want to start a business on top of everything else I am doing?



Here is my short list of reasons:

1) You are already in business: You, Inc. is your business. You trade your precious time for money now. Because the world is changing, your business may be more vulnerable than you realize. At any time, You, Inc. can be downsized, right sized, demoted, promoted, restructured, transferred, boss leaves, boss stays or any combination of changes that you have no control over but have the potential to make your life miserable.

2) Work Life Balance: Most of us did not start working with the idea that our free time could be so compromised by work demands or that our flexibility constrained to the degree it is with many jobs.

3) Portability: If you choose the right business, you can do it anywhere. This means that you can travel, go on vacation when you want or let your kids sign up for afterschool classes they are interested in without you dreading transportation issues. Arrange your schedule your way without having to ask permission from your boss or fretting about the example you are setting for your employees. Ah, I smell freedom in the air.

If this sounds good. Wait there is more.

4) How about extra cash? When You, Inc. is your only business, the only extra cash you can come up with comes in the form of promotions, job change, performance reviews or maybe bonuses. Cost of living is a thing of the past for most employees, so what are you to do when you have extra expenses either self induced or unexpected? When you are an entrepreneur, you just crank up your business a notch. By building it correctly to start with, you will have multiple streams of income that may be tapped when cash flow becomes a problem for You, Inc.

5) Options: A good reason to start a second business is to broaden your choices, minimize your vulnerability and reduce your risk by keeping your options diversified. Many studies have shown that people who are the unhappiest at work have been employees who have the least control over their work. The thought has always been that these are lower level employees, but I find that even high level employees find themselves in situations where they feel like they do not have effective control over their work, causing a significant degree of discomfort.

When you work as a solo entrepreneur, your work is always appreciated, you never have to care what mood the boss is in, the politics of the work place match yours perfectly, and you have the best office in the joint.