Understand your reasons for starting a business

Understanding Your Why Template.png

Understanding Your Why Template

Click the button to copy our template to your Google Drive and start working on your own now!

Why is it important to understand your motives for starting a new business?

When you start your own business you are the owner and, of course, the boss. That means that if you wake up and don’t work on your business, no one can fire you, but that can become a problem if nothing gets done! When you understand why you are so passionate about building you business, that passion will keep you going when times get tough. If you know what your goal is, you will be better prepared to truly appreciate your progress each day/week/month as you get closer to achieving your goal.

Before we get started, copy the Understanding Your Why Template to your Google Drive to begin understanding your motivations for launching a new business.

How do you get and understanding for why you want to start your own business?

We would like you to clearly specify your goals to help you see a path to what you consider success for both yourself as an individual and for your business. As yourself questions like:

  • Why are you building this business? What makes it so important to you?

  • Think about your goal for your business. How will you know that your business is a success? What will your business look like?

What are some reasons other people start a new business?

People start businesses for all kinds of reasons, but whatever those reasons or motivations are...they’re very strong! For example, some entrepreneurs don’t want to work for somebody else, some entrepreneurs want to make a difference in the world, some want to make money, some want to be independent, some want to take care of their family, etc. People’s goals or definitions of success are different. Some people have a financial goal (how much money they want to make), some people want to see their company’s name in stores across the nation, some people want to be able to make their family proud, etc.

Pro Tip

To build a successful business, you must start small and dream big. In the journey of entrepreneurship, tenacity of purpose is supreme.
— Aliko Dangote