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7 Valid Reasons To Start A Business

7 Valid Reasons To Start A Business

What’s not to like about being your very own boss? You decide your own work hours. You set your own rules. And there’s no office drama to get in your way, right?

Wrong.

These fantasies cater to the illusion of an ideal work environment. In reality, you have to be ready to face the challenges that come with putting up your own business. You decide your own hours, but you’ll frequently need to adjust your schedule to accommodate more work. You get to set your own rules, but adhering to them won’t simply be a matter of discipline – it could make or break your company. And while you certainly won’t have to tolerate petty office drama, you’ll still have to deal with difficult people day in and day out.

Before you start a business, you need to have the desire, drive, and passion for change and innovation. Wanting to simply escape office politics is not enough. Shallow, self-centered motivations will not give you the drive to last on your own in any industry. In the end, you’ll give up and ask yourself “What am I doing? Who am I kidding? This is not for me.”

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Before you decide to jump on the entrepreneurial bandwagon, consider these 7 valid reasons to start a business:

1. You have an idea you can’t stop thinking about

“When you find an idea that you just can’t stop thinking about, that’s probably a good one to pursue.”  –Josh James, CEO and Co-Founder of Omniture

Do you often ponder an idea before you go to sleep and think about it again first thing in the morning? Does brainstorming this idea leave you staring into space for hours? If you keep thinking about bringing this idea into reality, perhaps fate is telling you to make that move. When Joe Gebbia and Brian Chesky first turned a profit renting out three air mattresses on their apartment floor and serving breakfast, they thought their idea could actually work. It did. What started as two guys’ solution to earn rent money is now called Airbnb.

2.  You have a solution to a major problem

“One can get anything if he is willing to help enough others get what they want.”  –Zig Ziglar, Motivational Speaker and Author

This is the reason some businesses thrive and grow into huge corporations. All problems are meant to be solved, but not all of them require mega fundraising or massive investments. You need to have the solution to a large-scale, tangible problem. Dave Barnes, CEO and Founder of Gym and Fitness, started his business at the young age of 18. He was shopping for home gym equipment and noticed a huge gap in the online market. What started out as a hobby quickly became an obsession. He quit school, and is now the owner of multiple gym equipment stores all over Australia.

3. You are in a perfect situation

“Even if you don’t have the perfect idea to begin with, you can likely adapt.”  –Victoria Ransom, Co-Founder of Wildfire Interactive

You are in the right place, at the right time, with the right people. This formula often leads to something epic. If an opportunity comes knocking, and you feel with all the bones in your body that it’s best thing to do, then you should probably follow your instincts. When Chad Mureta, founder of App Empire, got into a debilitating accident that left him in the hospital with a mountain of bills, he took a leap of faith by venturing into an industry he was not familiar with. Now, Mureta has already produced 46 apps and sold three app companies.

4. This is your passion

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”  –Steve Jobs, Co-Founder, Chairman and CEO of Apple

If you’re starting a business just because you can, then you’re starting out wrong. It takes more than knowledge and experience to become a successful entrepreneur. Hannah Grant, owner of Captura: Wedding Photography in Adelaide, started her business because she was drawn to capture the emotions of people and paint those heartfelt, authentic, joyful sensations through photography. That is passion. It’s beyond the financial aspect. If your work is your passion, then you won’t have to work a single day in your life.

5. You are born to be an entrepreneur

“Trust your instincts.”  –Estée Lauder, Founder of Estée Lauder

Do your friends or relatives often say you have huge potential to succeed in business? Did you ace your backyard lemonade stand or your scout troop’s cookie quota when you were a kid? You should use that unique instinct on something bigger. That is a trait that cannot be learned over time. It’s something you are born with. Embrace it. Apple’s co-founder, Steve Jobs, began what is now a groundbreaking company specializing in innovation in technology… in his parents’ garage.

6. You have years of experience behind you

“Your most unhappy customers are your greatest source of learning.”  –Bill Gates, Microsoft Founder and former CEO

Like a soldier, trained and armored for war, you already know the ups and downs of your business and the complex nuances of your industry. You know this is what you want. You have years of experience behind you. It’s time to blaze a new trail. Bernie Marcus and Arthur Blank, co-founders of Home Depot, were once fired from their executive jobs. However, that didn’t stop them from revolutionizing the home-improvement industry. Combined, they had years of experience in the industry and changed how we deal with DIY projects.

7. You’re a fresh graduate

“The biggest risk is not taking any risk… In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” –Mark Zuckerberg, Chairman and CEO of Facebook

You just graduated and you’re ecstatic. Let that feeling make you do crazy things you’ll probably not want to do in three or four years. Use that confidence to start your own business. What’s there to lose when you have all the time you need? While your friends work toward a promotion at some other company, you’re on your way to becoming the boss of your own company. Mark Zuckerberg was an undergraduate when he started Facebook, but fast-forward, and his one-time “hot or not” site has become a central part of our lives.

As Mr. Donald Trump once said, “You have to think anyway, so why not think big?” Yes, becoming an entrepreneur is always risky. Yes, it’s constantly changing. And yes, there’s no such thing as playing it safe. But the feeling of accomplishing something, doing what you love the most — that feeling will just propel you to go further. You never know – you might become the next Bill Gates!

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Last Updated on March 30, 2020

How to Mind Map to Visualize Your Thoughts (With Mind Map Examples)

How to Mind Map to Visualize Your Thoughts (With Mind Map Examples)

Traditionally, when you have a lot of ideas in your mind, you would create a text document, or take a sheet of paper and start writing in a linear fashion like this:

  • Intro to Visual Facilitation
    • Problem, Consequences, Solution, Benefits, Examples, Call to action
  • Structure
    • Why, What, How to, What If
  • Do It Myself?
    • Audio, Images, time-consuming, less expensive
  • Specialize Offering?
    • Built to Sell (Standard Product Offering), Options (Solving problems, Online calls, Dev projects)

This type of document quickly becomes overwhelming. It obviously lacks in clarity. It also makes it hard for you to get a full picture at a glance and see what is missing.

You always have too much information to look at, and most often you only get a partial view of the information. It’s hard to zoom out, figuratively, and to see the whole hierarchy and how everything is connected.

To see a fuller picture, create a mind map.

What Is a Mind Map?

A mind map is a simple hierarchical radial diagram. In other words, you organize your thoughts around a central idea. This technique is especially useful whenever you need to “dump your brain”, or develop an idea, a project (for example, a new product or service), a problem, a solution, etc. By capturing what you have in your head, you make space for other thoughts.

In this article, we are focusing on the basics: mind mapping using pen and paper.

The objective of a mind map is to clearly visualize all your thoughts and ideas before your eyes. Don’t complicate a mind map with too many colors or distractions. Use different colors only when they serve a purpose. Always keep a mind map simple and easy to follow.

    Image Credit: English Central

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    By following the three next steps below, you will be able to create such mind maps easily and quickly.

    3 Simple Steps to Create a Mind Map

    The three steps are:

    1. Set a central topic
    2. Add branches of related ideas
    3. Add sub-branches for more relevant ideas

    Let’s take a look at an example Verbal To Visual illustrates on the benefits of mind mapping.[1]

    Step 1 : Set a Central Topic

    Take a blank sheet of paper, write down the topic you’ve been thinking about: a problem, a decision to make, an idea to develop, or a project to clarify.

    Word it in a clear and concise manner.

      What is the first idea that comes to mind when you think of the subject for your mind map? Draw a line (straight or curved) from the central topic, and write down that idea.

        Step 3 : Add Sub-Branches for More Relevant Ideas

        Then, what does that idea make you think of? What is related to it? List it out next to it in the same way, using your pen.

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          You can always add more to it later, but that’s good for now.

          In our example, we could detail the sub-branch “Benefits” by listing those benefits in sub-branches of the branch “Benefits”. Unfortunately, we already reached the side of the sheet, so we’re out of space to do so. You could always draw a line to a white space on the page and list them there, but it’s awkward.

          Since we created this mind map on a regular letter-format sheet of paper, the quantity of information that fits in there is very limited. That is one of the main reasons why I recommend that you use software rather than pen and paper for most of the mind mapping that you do.

          Repeat Step 2 and Step 3

          Repeat steps 2 and 3 as many times as you need to flush out all of your ideas around the topic that you chose.

            I added first-level (main) branches around the central topic mostly in a clockwise fashion, from top-right to top-left. That is how, by convention, a mind map is read.

            In the next section, we are covering the three strategies to building your maps.  

            Mind Map Examples to Illustrate Mind Mapping

            You can go about creating a mind map in various ways:

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            • Branch by Branch: Adding whole branches (with all of their sub-branches), one by one.
            • Level by Level: Adding elements to the map, one level at a time. That means that firstly, you add elements around the central topic (main branches). Then, you add sub-branches to those main branches. And so on.
            • Free-Flow: Adding elements to your mind map as they come to you, in no particular order.

            Branch by Branch

            Start with the central topic, add a first branch. Focus on that branch and detail it as much as you can by adding all the sub-branches that you can think of.

              Then develop ideas branch by branch.

                A branch after another, and the mind map is complete.

                  Level by Level

                  In this “Level by Level” strategy, you first add all the elements that you can think of around the central topic, one level deep only. So here you add elements on level 1:

                    Then, go over each branch and add the immediate sub-branches (one level only). This is level 2:

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                      Idem for the next level. This is level 3. You can have as many levels as you want in a mind map. In our example, we only have 3 levels. Now the map is complete:

                        Free-Flow

                        Basically, a free flow strategy of mind mapping is to add main branches and sub-topics freely. No rules to restrict how ideas should flow in the mind map. The only thing to pay attention to is that you need to be careful about the level of the ideas you’re adding to the mind map — is it a main topic, or is it a subtopic?

                          I recommend using a combination of the “Branch by Branch” and the “Free-Flow” strategies.

                          What I normally do is I add one branch at a time, and later on review the mind map and add elements in various places to finish it. I also sometimes build level 1 (the main branches) first, then use a “Branch by Branch” approach, and later finish the map in a “Free-Flow” manner.

                          Try each strategy and combinations of strategies, and see what works best for you.

                          The Bottom Line

                          When you’re feeling stuck or when you’re just starting to think about a particular idea or project, take out a paper and start to brain dump your ideas and create a mind map. Mind mapping has the magic to clear your head and have your thoughts organized.

                          If you can’t always have access to a paper and pen, don’t worry! Creating a mind map with software is very effective and you get none of the drawbacks of pen and paper. You can also apply the above steps and strategies just the same when using a mind mapping tool on the phone and computer.

                          More Tools to Help You Organize Thoughts

                          Featured photo credit: Alvaro Reyes via unsplash.com

                          Reference

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