Starting A Business: Providing Value vs Making Money
I recently revisited some thoughts I had about starting a business.
Over the years, I’ve had many conversations with people excited about launching their own ventures, and I’ve learned a few things that might help.
Reset Expectations
There’s a lot of hype about working minimal hours and making big money. The “4-hour workweek” idea is appealing but often misleading. Successful businesses take time and effort to build. You may eventually reach a point where you can step back, but it’s likely after years of hard work. Even highly autonomous careers like dentistry or medicine involve significant up-front investment in time and energy.
Keep Your Day Job… for Now
Starting small can be powerful. For instance, someone I know who works a full-time remote job wanted to start a business but wasn’t sure how to begin. I suggested using a few hours in the afternoons or evenings to work on their idea while documenting the process. By doing this, they could learn, grow, and build credibility without risking financial stability. Small, consistent effort compounds over time.
“Be Your Own Boss” Isn’t What You Think
Owning a business doesn’t free you from accountability. Your customers, partners, and market demands effectively become your new “boss.” If you value autonomy, consider whether a flexible job with a great boss might meet your needs better than entrepreneurship. If you do choose to start a business, be prepared to wear many hats beyond just the one you love most.
Focus on Value
Before jumping in, ask yourself: Does this idea solve a real problem? Are you offering something better or different? Successful ventures often begin by identifying gaps in the market and providing unique solutions. For example, I started a website for Onewheel enthusiasts because I saw unanswered questions in the community. By addressing those gaps, I created value for others and built something meaningful.
Not Every Hobby Needs Monetization
It’s okay to enjoy a hobby without turning it into a business. Sometimes, monetizing a passion can sap the joy from it. If you do want to monetize, start by creating value and letting monetization follow naturally. This approach is common among successful creators who first focus on building something worthwhile.
Conclusion
Starting a business can be rewarding, but it’s not the shortcut to freedom and wealth that some portray. It’s a path filled with challenges, requiring hard work, patience, and a focus on providing genuine value. If you’re thinking about starting a business, take the time to plan, learn, and grow—it’ll set you up for success in the long run.