Why So Many People Are Into Startups

Startups are one of the newest crazes and countless startups are popping up daily. Their allure is something that easily draws people in and sends their imaginations running wild with possibilities. After all, it’s those great ideas like Uber or Amazon that ultimately change not only everyday life, but the cogs that keep the world running.

There are many reasons people are drawn to the idea of chasing their startup dreams. There is one common theme among reasons for creating a startup: A better life. It may be a better life for yourself, your family, or the population you intend to serve. Here are some common reasons why so many people are looking to get their feet wet in the massive sea of startups.

Work-Life Balance

The thought of a more admirable work-life balance is a huge draw for those looking to enter the world of startups. The reality of running a startup is that the work-life balance can get way out of whack in the beginning stages. Work demands can stretch you thinner than you ever thought possible as you strive to establish your business.

Profits are typically low in the beginning which means you can’t afford to hire much help.
You may find yourself wearing many, if not all, of the hats within the company in the beginning.
The good news is that there is potential for a good work-life balance, but don’t expect it to come easily. As your startup progresses, your assets build and everything starts to come together,
there’s a decent possibility you can loosen the reins and delegate tasks.

Risk Versus Reward

Startups hinge massively on the risk versus reward mindset. As with any business, the higher the risk, the higher the reward. The thing with startups though is that there is an unsettling chance that a startup will not make it. In fact, the Wall Street Journal says that 75% of startups fail. Startups can be lucrative but anything worth having doesn’t come easily. Long hours, months without a break and significant financial support are all things to expect when getting a startup off the ground. There is the possibility though that your hard work will eventually pay off and allow you to live a very financially comfortable life.

Being Your Own Boss

One of the most attractive aspects of starting a company is the promise of being your own boss. This sounds great, and it can be, but it’s unwise to think that you won’t be relying on others. You may find yourself at the mercy of investors and certainly at the mercy of customers and clients. You may even find that being your own boss is more of a headache than actually having a boss.

The upside to being your own boss is that you do typically have more control and can call the shots. You control the ability to never miss another school play, family vacation or holiday dinner. Working from home can finally be a reality as well as working poolside in Fiji. It may sound too good to be true but it’s not out of the realm of possibility.

Endless Possibilities

Creating a startup means there are endless possibilities. You hold the power within your mind and work ethic to evolve your company however you see fit. Your earning potential hinges upon demand but there is no limit on the amount you can ultimately earn. Running a startup gives you unique freedoms in regard to creating and implementing company policies,
generating new ideas and reaching untapped markets.

Conclusion

Creating a startup is exciting and can be really fun. However, it should not be taken lightly. There is great potential and endless possibilities for success. Finding a balance between following your dreams and staying grounded in reality is the key to startup success.