The fundamental thing you need to understand if you’re going to have a business is your “why.”
Your “why” is your motivator – what drives you, what gives you strength to endure the tough times or the boring times or the dry times?
You need a powerful “why” behind your business or else you will give up at the first sign of trouble.
A few examples of powerful “why”s would include providing for your family, financial freedom, having the ability to work from home, having time to go places and do things you’d like to do, or wanting to make an impact in the world in one way or another.
James Pelton, founder and CEO of Mobile Text Alerts, has had his own “why” journey:
- Phase #1)
- Before I got married, I really had no “why” – None of these things. I didn’t have a family to provide for, I didn’t care much about time freedom or financial freedom.
- And with no “why,” I didn’t really do anything particularly well.
- I wasn’t motivated in school, I wasn’t motivated in work.
- Phase #2)
- I got married in 2008 when I was 20 years old.
- Now my why was “providing for my family.”
- And I felt that pressure, so I got a real 8-5 job, and was motivated by “I need to provide.”
- Phase #3)
- That’s when I started working on my own business on the side.
- I was providing for my family already with my 8-5 job, so why did I start something else?
- And it was a lot of work, what was my motivation?
- It was a combination of Financial Freedom and Decision Freedom.
- There were other things I wanted to buy – I wanted to go out for dinner, I wanted to go on vacations.
- And I wanted to work from home.
- We had my first daughter, and I didn’t like how little I got to see her.
- If I leave for work before she wakes up, and I don’t get home until 6pm, and she goes to bed at 7:30pm – She’s going to barely know me.
- So that “why” was ingrained in me and gave me the motivation to stay up 10pm until 1 or 2 every morning working on my side business.
- Phase #4)
- Eventually, Mobile Text Alerts started to do well.
- And I got some financial freedom.
- I could buy some things.
- But now I was working 8-5, and then also working 10pm until 2am.
- So I wanted Time Freedom.
- I wanted to work less every day.
- So eventually, I quit my full-time job, which freed up a lot of time.
- Phase #5)
- So now I was providing, and I had financial freedom, and I had time freedom.
- And my “why” was a little less clear.
- I actually really struggled – I wasn’t super motivated to grow my business or work.
- Without a clear why, I kind of just floated for a while in my business.
- And that’s when I found “impact” as a “why.”
- Phase #6)
- I started seeing all sorts of areas in my life where people needed help financially.
- I met some friends from Cameroon and from Rwanda, and what they really needed was money.
- And as I started helping these friends, and we started working on our adoption process.
- I realized that this was why I wanted to keep growing my business.
This is just an example of what a “why” journey might look like – yours might be totally different!
The important thing is to know your “why” and to let it motivate your business!
So what’s your motivator? Why did you start your business? What keeps you going?
If you’re interested in more tips like this, feel free to check out our course on doubling your revenue in 90 days.