Why you SHOULD NOT Start a Small Business
Getting into the entrepreneurship arena isn't something to be taken lightly if you want to succeed, you have to make sure you're asking the right questions and know what you're getting yourself into! Welcome to today's installment of Business Growth Hacks, where we're talking about the reasons why you shouldn't start a business. And let's be clear: this episode is definitely not trying to convince you not to become a business owner, but we are here today to guide you through all the wrong (and right) reasons and risks you should consider before quitting your day job. In this conversation, hosts Andrew Brockenbush and John Fritzsching will help you identify your “why” and cover some common misconceptions about the lifestyle of entrepreneurs. You'll get a sneak peek at what it's really like behind the scenes of the Beefy Podcast, plus listeners can hear about the challenges of wearing so many hats and trying to be a good boss. We also break down some key points to bear in mind amid your excitement of identifying a gap in the market, and the importance of doing your field research on why no one else is doing it. Finally, we close with some fantastic hacks and tools that you can use to check and elevate your ideas before taking the leap. If you're even thinking of taking the plunge and starting your own business, then this is the episode you've been waiting for!
Key Points From This Episode:
- Say hello to your hosts: Andrew Brockenbush (founder and CEO of Beefy Marketing), and John Fritzsching (video production specialist at Beefy Marketing).
- Introducing today's topic with a question: If you could start any business, what would it be?
- The fallacy of business ownership being a life of freedom and ease.
- Don't start a business just because someone else thinks it's a good idea!
- Identifying a gap in the market, and carefully evaluating why no one else is doing it.
- Accessing your “why” before you walk out on your boss.
- Identifying what your pain is at work, and asking for what you need before you quit.
- Getting feedback on your business idea from other knowledgeable people in the industry.
- How starting a business means accepting to work every role in that business.
- New facets of the Beefy evolution, and the challenging realities of all the hats we wear.
- People don't quit bad jobs, they quit bad bosses!
- Today’s Business Growth Hacks: Google Trends, Ubersuggest, and a whole lot more!
“When you own a business, all of a sudden you have a responsibility for more than yourself.” — @abrockenbush [0:06:28]
“Are you disciplined enough to be able to say ‘If I want to be successful, I have to push myself.’” — @abrockenbush [0:07:46]
“If you go starting a business because you hate your boss, you're going down a slippery slope.” — @abrockenbush [0:19:41]
“This time of year people are definitely getting frustrated, especially if they're not getting off for the holidays like they'd like. And it can really make you think ‘I'm just going to quit my job and start something.’” — John Fritzsching [0:25:20]
“If you're starting a restaurant, you are agreeing to work every position in that restaurant.” — John Fritzsching [0:25:55]
“Leadership creates the culture, whether you want to believe it or not.” — John Fritzsching [0:27:37]
“I heard a statement one time that says people don't quit bad jobs, they quit bad bosses.” — John Fritzsching [0:34:54]
Links Mentioned in Today’s Episode: