Entrepreneurship's Benefits Are Great Even When the Money Isn't Building your own business offers personal freedom and fulfillment, along with the prospect of prosperity.
By Kimanzi Constable Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
There are many reasons to be an entrepreneur. Owning a business can be joyful or a pain in the you-know-what. Chances are you'll experience both ends of the spectrum at times. It's not easy to grow a business, and in frustration, entrepreneurs decide to quit.
Entrepreneurship wasn't taught while we were growing up, so there's a lot you'll only learn through experience. I started my first business at 19-years-old without any instruction or mentors. While the business quickly grew to $250,000. I didn't understand how to manage the business and racked up $180,000 in debt during the 12-year run of the business.
It wasn't a business I was passionate about, and I eventually walked away. My second business is what I love. I write, speak all over the world and consult with amazing people and companies. This business has also grown and has allowed me to pay off all the debt from the previous business.
I don't love this business simply because of the money. It goes far beyond that. If you are in a business you love, chances are the money is just a by-product of a greater "why." There are two main reasons why you wake up every day to do what you love doing.
Related: 5 Benefits of Being a Misfit Entrepreneur
Freedom
Freedom is the one thing each of us wants and needs. Freedom comes in many forms and can be the difference between truly living life or simply existing. Entrepreneurship provides many ways to be free. You get to set your schedule and spend your time each day on the things that are important to you.
I do realize that income provides financial freedom and that, in turn, reduces stress and worry. But, to experience freedom and have control is priceless. To be there for your family and still generate income is true success. To be in control of your destiny is something many strive for.
There are good days and bad days. There are great days financially, and days when you won't make any money. It's not always roses, and there are days when the stress can be unbearable. But when you think about the freedom you get to experience, it helps you get through the rough times. Strive for freedom in your business. Work on getting to the point of running the business without always having to be in the business.
Related: There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money
Impact
You started a business to make a living, but what you do in that business helps people and changes their lives. The impact of a business lives beyond the entrepreneur who started the business. Look at a company like Apple and it's founder, Steve Jobs, as an example.
Even though I had a profitable business in the vendor industry the first go-around, it didn't make an impact on me or the people I was serving. Today, I'm the author of three books. I plan on writing ten. Today, you can see my words in stellar publications such as Entrepreneur, the Huffington Post, Fox News, and more. I see the impact of the work I do daily and it helps me get through the days when I don't feel 100 percent.
If you haven't started your business, or just started it, focus on how you can help people and add value to their lives. Don't focus on how much money you can make off of someone. When you add value, you build trust. A lead will buy from someone they know, like and trust. There's not a better way to build trust than through how you help someone without expecting anything in return. Don't get me wrong, you should charge a fair price for the value you deliver, but always come at this from a place of service.
In the hustle and busyness of growing a business, it's easy to lose sight of why you started your business. Your business may not be growing right now, and it could be because your focus is on the wrong things. Take a minute this week to remember. Getting in touch with those initial moments and feelings from when you started can be a refreshing way to get back that hunger and fire.
Take some time to enjoy the freedom you have and the impact you're making in people's lives. Enjoy the little moments in the journey to build your business and live each day fully present. You're creating a legacy that will extend beyond your lifetime. That should make you smile.
Related: 'Having Impact Has to Come From an Authentic Place'
