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Industry News

Before starting your own business, ask yourself ‘why?’

Ask yourself why you want to start your business before doing so.

Ask yourself why you want to start your business before doing so.

While there are several areas of concern you must consider before deciding to quit your job and start your own business, the most important thing to do is ask yourself one simple question: "Why?" 

This isn't just asking why you want to start your own business, because chances are your answers will be similar to those who have followed the same path. You want a chance to be your own boss. You want to run a successful organization that will make you more money than you ever could have earned in your corporate gig. These are fine reasons and if you are driven you can attain those goals and be successful, but to truly understand the why you have to dig a little deeper.

Jay Papasan, who co-wrote the best-selling "The One Thing" with real estate mogul Gary Keller, recently discussed this issue with Forbes and said that asking yourself a series of questions is the most important thing you can do as you prepare to transition from your job to owning your own company. 

"Ask yourself, 'Why is it important to do this? What will it do for you? What will it do for your family? What will it do for the world?'" he said.

This will help fuel your own efforts while helping you establish your company's vision and mission. Additionally, knowing exactly what your company is attempting to accomplish will help ensure its success. Knowing how to incorporate your organization will ensure that your vision and mission are fulfilled and that you make the most of this exciting transition.