Browsed by
Tag: business

47 Reasons For Starting A Business Today

47 Reasons For Starting A Business Today

It is fine to be afraid to leave your comfort zone. You might be beginning to contemplate doing that, but it is just a thought for now. Starting a business is probably one of the best examples of venturing into the unknown. I know you are just looking for that push. Are 47 reasons for starting a business today enough get you going?

Although the list is numbered, the list items are not by any means listed by significance or importance. 

1. Follow Your Dreams

You have a business idea. It matures over time in your mind. The more you think of it, the more you like it. Trying to make that business idea a reality means that you are no longer dreaming – you are following your dreams!

2. Create Something

Each one of us has a unique trait of talents and skills. Our minds work in totally different ways – in a good way. By using what we know best, we can create a something that will count forever.

The idea is not to live forever. It is to create something that will. – Andy Warhol

3. Do What You Want

What is harder than doing something that you do not want to do?

Trying to suppress your desires to do what you really want.

The modern lifestyle is full of boundaries, even though we are more free than ever. But our boundaries come from the materialistic nature of our society. Everything runs on so called “norms”. It is a sin to not follow them.

On the other hand, our mind knows no boundaries. Thus our desires hold no boundaries too. Starting a business today means you not only fight your business competition, but the societal norms as well. Just remember – you are going to be happier!

4. Define Reality

Reality includes everything that has existed, exists, or will exist

If you are reading this far, it means you are not satisfied with what existed and exists. Do you really need a better reason to start a business than to create something that will exists?

5. Face Your Fears

Fear is a fine thing – it protects us physically and mentally. It is also a key factor to starting a business today. Creating a venture for the first time is far more than a scary thing. It is associated with fears that we are not even aware of. And that is a good thing. The more fears you face, and eventually overcome, the tougher a person you become.

6. You Are Missing Opportunities

Usually we first think of solutions to our personal problems. It is awesome to solve something that is a pain in the neck for use. Our life is suddenly more fun. Then we say:

– How many others have the same problem?

Lack of confidence and personal motivation tends to stop the thinking process here. But a little effort into research is nothing to be shy of. Just imagine what opportunities you might be missing by not gathering info? What if your solution is the most superior out there?

7. Someone Else Will Do It, Eventually

In context to the previous reason, there is also a high probability that someone else has had the same problem. He/she might do something about it in the future, or maybe not. By not acting, you are letting time make that problem an even bigger pain in the neck. And the bigger the pain, the bigger the need to be solved.

starting a business

8. Achieve Monetary Independence

Are you going to wait for someone else to see your potentials? Give you that promotion you feel you earned? Or take action now, make your business idea a reality and never wait for anyone?

The hardest, but most rewarding way to achieve monetary independence is to start a business. I say the hardest, because it requires an extreme unconditional effort before you are going to see any rewards. This is a risk that most people are afraid of. Leaving the comfort zone to try something that might fail. People are really afraid of being broke. It is not only a matter of physical needs, but an ego-shattering experience that is only effected by our materialistic society.

By taking your destiny into your own hands, your existence on the line, you will not get any better motivation. Remember that great rewards require the greatest risks.

9. Networking

People make the world “spin”. The more people you get to know the better your access to information. Starting a business means meeting people from a wide range of backgrounds. They could be your new friends, new partners, new employees or new competitors. Each brings a personal opinion to the issue at hand. Their inputs could be valuable for the development of the new business.

The guide to help you along the way.

10. Be Able To Sell Something

New entrepreneurs often forget that a business at the end of the day exists to make money. It is very true that its purpose is to satisfy a need to a large enough market, willing to buy the solution. And it is even better to not set money as a direct goal. But if a business does not make money, it will seize to exists.

One of the best fillings for anyone wanting to start a business is to have your idea be accepted. It achieves that only by trying to sell. That feeling also works wonders for your confidence. You have created something that customers want to and have bought.

11. Increase Your Confidence

Surprisingly we are not aware of how our confidence level is low. When was the last time you confronted you boss? Or when was the last time you stood for something that was the right thing? I can assume not in recent time.

Our society trains us to be obedient. We listen to the elders, do the tasks, do not question reality and live a boring life. But starting a business means fighting all that head on.

At first most want you to fail – so they will be right.

You live a life full of sacrifices all for your vision. Looking back on what you have done is a major personal boost. How many of the people you know have stood for something they believed in? Went all in against all odds? Lived a happy life even if they failed?

12. Improve Your Personal Brand

Starting a business has many secondary positive effects. When you create something that is successful, you become the its successful image. You become known in your community as a person that has done something amazing. The community will start to look up to you as a leader, will ask for opinion and help. This is your chance to show what you stand for.

13. Help Someone By Solving A Problem

A business’s sole purpose is to do something that improves the life of a certain market. You will get to create a product that will make people happier by solving a problem that is giving them headaches. There is nothing better for an entrepreneur to create a solution that people are happy to use, but also share their happiness. That is a real reason to start a business!

14. Take On A Responsibility

Staring a business is a combination of many responsibilities. As it grows bigger, you become responsible for not only satisfying the needs of the customers but making sure the business is running smoothly. Employees rely on your actions to provide them salaries they can take home to their families. Partners and vendors expect to be fully compensated too. But probably the biggest responsibility you have is the one towards yourself – you are responsible to make your business work because of all the sweat, tears and passion that has gone into it.

15. Create Jobs For Those Who Can Not

You have an obligation to do something today. You are thinking of reasons to start a business and a business cannot exist without its employees. If your business grows, so will the need for colleagues. You have the power to create something that will take care of other people’s needs at home. They will get to do what they want, do it in a pleasant atmosphere and be rewarded for their efforts.

16. Fight Challenges Everyday

Starting a business is nowhere close to boring. Daily challenges always come up. They are things you have never even thought of or planned for. You will be challenged by your market, competition and even by your employees. Working under pressure and creative problem solving will become something very normal.

17. Give Back to the Community

A business is only as goods as the environment it operates in. Are you a person who is looking for ways to improve your society? Building an enterprise will provide you with the resources to do so.

18. Support Newcomers

Entrepreneurship is about sharing. Help others achieve their dreams too. Every entry into a new field is very hard. You need self motivation, knowledge, networking and energy to sustain the effort. The world needs newcomers because they bring new ideas. One should never see them as competition but as people with a genuine mission. Support them!

19. Create The Lifestyle You Want For Yourself

Not having the lifestyle you always wanted? Starting a business today provides the flexibility to make your own decisions. Take the initiative on life and strive towards your dreams.

lifestyle change

20. Invest In yourself

Constant personal improvement must be a personal goal. One of the best ways to do so is by starting a business you have always wanted. When passion has a saying in your actions, you will want to have the best possible knowledge and skills to make your business work. So investing in yourself is not only an excellent reason to start a business today, but an excellent reason to be a better person.

21. Make A Lot More Money

Basically, starting your own business will mean that all the finances will be yours to manage. All the gains will be yours to manage as well. Remember that running a business requires a lot more effort when compared to being an employee. It is only natural to ask for greater rewards too. Just have in mind not to jeopardize the healthy operations of your new company by fulfilling your personal wishes.

22. You Set The Deadlines

Running your own business also means you will set the deadlines. We have all been in a position where some deadlines set by others cannot be completed under the circumstances. We were unhappy and anxious. Now you will have the chance to properly manage the resources and delivery dates, making sure stuff gets done, but your colleagues are happy along the way.

23. Be A Leader

Do you want to be able to influence others? Have you found a reason why people might follow you? Creating a business today will set you on a path to leadership. You will be doing a change, guiding your colleagues and making your clients happy. By building your reputation, you will be building your leadership.

be a leader

24. Give To Those In Need

Inequality has become a major component of modern societies. Finances are limited, especially for some specific groups of people. By starting a business today, you will also get to help those in need. You will provide free services, create jobs and brighten up their future.

25. Find Colleagues That Are Passionate About Things You Are Not

We all have different characteristics. We like different things. This is a good thing. How often have you been asked to do stuff you have no passion about? It is fine to be helpful when needed, but often wrong management practices leave us unhappy at our workplace. We are misunderstood and given daily tasks we absolutely hate.

Creating your own business will mean that you can always search for colleagues to do the stuff you are not passionate about. But you will also not make the same mistake – make sure they like what they are doing.

25. Flexible Working Time

You are your own boss. You set the working time, tasks and deadlines. But flexible working hours can also create negative effects. Do not get carried away without regard for the your colleagues and company’s needs. Maintain strong personal discipline despite having flexibility in your operations.

26. Make Your Society Better

You have an idea to make something better? Is your solution going to kill one more headache in our lives? After all, being part of your society gives you the responsibility to act if you can.

27. Gain New Skills

Reaching success requires gaining many new skills. Some are to your liking, some are not. Nevertheless they will help you reach your goals. If you are a person that wants to explore new subjects daily, that starting a business is one of the best things you can do.

28. Take Care Of Your Body And Mind

The body achieves what the mind believes. – Unknown

The tremendous energy that is used in the beginning phases of a business are somewhat comparable to a superhuman effort. Most importantly, taking care of the physical condition of your body will lead to a healthy mind.

Further Reading: “Physical exercise for brain health”

29. Learn Something New Every Day

Learning is not only related to gaining skills and knowledge in the professional field you are in. You meet new people, learn about personal characteristics, learn to communicate, implement psychology to improve the outcomes. You experience new cultures, spend time among different social circles. In other words, learning new things everyday means you are going to become an even more open and tolerant person.

30. Learn To Manage Finances

Starting a business today will teach you everything about managing finances. It does not matter if you are good with numbers or not, learning to work with money is a skill that every business teaches you on. The same principles can also be used in your personal life.

31. It Is Never Boring

Each new day presents something new. Whether it is a problem, a prospect or a new unexpected lead, running a business is never boring. It sometimes gets very intense but be sure you will be challenged every day.

32. Start In A Totally New Profession

Some professions have very significant barriers to entry. They require climbing the ladder slowly, taking up various entry level positions and hoping for the best. You would need very good networking too.

There is also another way – starting a business! It is the hardest but the most rewarding. Have you always had a dream to try something or try a new career? Why not start a business in that related profession? It will be a tough path anyhow but at least you will create something for yourself and learn even more.

33. Help Develop Others

Entrepreneurs have the ability to look into other people’s best, even if they themselves do not. They can spot the best working preferences, their passions and ideas. Starting a business means you will have the chance to give others the best opportunities to achieve the most. Your motivation will come from their success.

34. Get Out Of Your Comfort Zone

Getting out of your comfort zone is the first thing an aspiring entrepreneur has to do. The feeling of being constantly under the burden of social norms and stereotypes can prove a lot to bare with. It sucks your energy away. It makes you less responsive to the environment. It makes you passive. Taking the first little step out of the bubble will make the world show its purpose again.

35. Shut Everyone Who Has Ever Questioned You

Entrepreneurship is a very lonely road. We are lucky if we find a partner who understands us. What hurts the most is the negativity of the people around you. They want to see you fail. They will be happy when you do, because they were right. This reason should not be a starting point, but should be a motivation for persistence. Show everyone what you are made of.

36. Become A Mentor

There is no better feeling than helping someone else reach your success levels and even pass you. Now you might be thinking that these words are stupid, but by remembering your early days into entrepreneurship, become the mentor you have always wanted and needed.

mentor quote

37. Be An Inspiration

Become the person new entrepreneurs look up to. Inspire them to build their dreams, use your tricks and learn from your mistakes. Become the entrepreneur that would inspire you.

rise

38. Create The Organizational Structure You Feel Is Right

The organizational structure of any company is as unique as the company itself. It is its bloodline. It depicts how decisions are made, roles are played, communication is conducted. Working a regular job means fighting an organizational structure that might be faulty. Its issues create demotivation.

By starting a business today you have a chance to create the organizational structure you feel is right. Do not make the same mistakes your previous managers did.

39. No More Working Days

I see the term “working day” as any day we work to make the dreams of someone else. We excange our time for money and other benefits. So our income is limited to the amount of time at our disposal. Starting a business today will spell the end of the “working day” as you know it. No day will ever mean only work, but will have a higher purpose. You are making your dreams come true and being happy in the whole process.

40. Do CSR

Corporate social responsibility means incorporating all the legal, social and ethical standards into your business model. It is not only about providing value for you and the investors, but also taking care of the ecosystem. Just as your business will rely on the environment it operates in, so will the environment rely on your operations.

41. Be The Boss You Wanted To Have

A boss’s job is quite unique. Managing people is considered to be very demanding, both in knowledge and personal skills. Often the managers misconduct operations that leave unsatisfied employees. Their disregard for personal traits and beliefs can lead to unhappy workers. Start a business today to become the boss you wanted to have. Take care of your employees by satisfying their human needs first.

42. Create A Legacy

Our lifetime is limited. It is the only limited thing today. Naturally, humans want to have a life purpose. Each chooses it individually but is goes in line with their believes. A legacy will insure that your achievements will be handed down in the generations to come.

we all die

43. Get More Creative

A way of looking at problems or situations from a fresh perspective that suggests unorthodox solutions (which may look unsettling at first) – Business Dictionary

When an entrepreneur approaches a problem, it is based on creative thinking. The mind works in mysterious ways when a problem pops up. Starting a business today immediately boosts your creative potentials. Creativity will help you deal with all the unplanned issues.

44. Surround Yourself With The Colleagues You Always Wanted

We rarely choose the people we work with. Yet they become a vital part of our life. We share more than one third of our days in their company. Conflict might sometimes come between us and our colleagues. It may make us dislike our job. By starting a business you will have the rare chance to choose the people you share the working day with.

45. One Business Leads To A Next One

Entrepreneurship is addictive. Once you feel the power to make things happen, you will never go back. All your skills are continually improving with experience. It becomes easier to spot new opportunities and approach them effectively. The first venture is the hardest. Then it becomes natural.

46. Never Ever Live A Boring Life

What is the purpose of our life if we are unhappy. Boundaries are all around, constraining our thinking and feeling. Starting a business will make you enter a dynamic world, where no same day will ever exist. Sometimes it will feel too dynamic, but just remind yourself of the life before entrepreneurship.

47. No More Monday Fever

The hype that exists around Monday, I feel, was created by people who do not like their job. Going back to work after a nice weekend can only be a bad thing if you are not happy with your career. Pursuing your dreams will eliminate the “Monday Fever”. As a matter of fact, the workweek will take a new form all together.

10 Business Skills I Developed by Having a Hobby

10 Business Skills I Developed by Having a Hobby

It all begins with an article that refreshed my views on the importance of having a hobby in my life. Yesterday, I somehow stumbled across 150+ Hobby Ideas Broken Down by Interest and Personality by Hubpages.com. There is not a hobby category I have not at least tried. In some succeeded and in others failed miserably. From a young age my parents always encouraged me to try new things. Jigsaws and Legos were always part of my life. So were all types of team and individual sports, collecting stuff, building models, DIY around the house and playing the guitar. Wow, they do seem a lot, now that I am refreshing my memories.

Tried a lot of different hobbies? Is that a bad thing?

By now you might think of me as person who is unreliable, who gets bored easily and can dump things midway?

Or you think of me as a person who is never satisfied with limits, always like to be challenged and is not afraid to fail? Two totally different perspectives!

Is having a hobby important?

Let’s look at some numbers and decide for ourselves. According to the following Statista data, people on average (at least in the USA) spend from 4 to 8 hours per day on leisure time:

Average hours per day spent on leisure and sports by U.S. population by age from 2010 to 2014*
Hours per day Total, 15 years and older 15 to 19 years 20 to 24 years 25 to 34 years 35 to 44 years 45 to 54 years 55 to 64 years 65 to 74 years 75 years and older
2010 5.18 5.69 5.34 4.4 4.17 4.66 5.24 6.85 7.69
2011 5.21 5.98 5.09 4.24 4.23 4.69 5.55 6.9 7.39
2012 5.37 5.86 5.55 4.42 4.27 4.81 5.59 7.1 7.68
2013 5.26 5.61 5.22 4.3 4.12 4.65 5.7 7.13 7.48
2014 5.3 5.74 5.45 4.34 4.1 4.75 5.45 6.94 8.02

All further information on this statistic can be found at Statista

Logically, as we grow older, the time spent hobbies continuously falls. At least until we get to retirement. But interestingly, we tend to spend 20% of day on leisure time. Every day!

But than I went further – what are the hobbies? Reality check!

having a hobby in the USA

Watching TV leads by a large margin, followed by reading books and using the computer. These results were expected, but not something we would like to admit. What does having a hobby such as watching TV say about our societies? We are lazy, boring and do not take proper care of ourselves.

What having a hobby really means?

The modern lifestyle gives us a generally materialistic purpose. We exchange our time for possessions. This in turn gives us the ability to fulfill our physiological and psychological needs. Capitalism is the creator of competition in every field of the societal circles and no one can be immune to the ever present pressure.

We spend at least one third of the day on exchanging our time in the form of work (and probably a lot more if we add the commuting time, overtime, weekends and just thinking about work). Another third goes to sleeping, resting, eating and other physiological needs. So we are left with less than 8 hours to do stuff we want. Or are we?

In that final third of the day, we run errands and do many other tasks that we are not passionate about. So that leaves us with less than 4 hours to do what we really want. Now a hobby is exactly that – doing an activity purely for the pleasure and personal satisfaction. During this time, we forget all that modern life is doing to us and try to simply enjoy ourselves.

Amazingly, science has had a lot to say about this limited time. The hobby is purely done from passion, so it assumes the last section of Maslow’s Hierarchy Of Needs

What a man can be, he must be. – Abraham Maslow

Maslow's Heararchy of Needs
Maslow’s Hierarchy of Needs. Source

Being self-actual gives the human being a sense of purpose and meaning to life.

Now the fun part!

10 Business Skills I Developed from Having a Hobby

The benefits of having a hobby go far beyond individual happiness and joy. Although we might not seem aware of these “intangible” benefits, they do shape our personality. In my personal case, having a multitude of hobbies has helped me develop some amazing skills. Using them is only limited to our creativity!

1. Communication

Hobbies exist in a community gravitating around a common interest. Although some activities are not directly social, they integrate an extensive amount of communication. Just think of all the time you have spent talking/writing/chatting with like-minded individuals.

Interestingly, we are rarely aware that these people come from different cultures, have different interests and are part of different social circles. Each of them brings specific attributes to communication. Refresh your memories – have you ever though of communication as something more than a means to an end? When talking about hobbies, there is no pressure, just fun and entertainment. So communication seems very easy.

Tip: When communicating under pressure, try to imagine the calmness and effectiveness you always employ when communicating with your peers.

2. Presentation

Many hobbies revolve not just around conducting activities and collecting items. Showcasing is essential. One way or another, you spent time perfecting the display, adding showpiece items and showing off unique features. Is this also not the purpose of a business presentation?

By not having any, or little, repercussions on you activities, you tend to express the best outcome possible. No pressure, just passion!

Tip: Refresh your memories and use some of the tricks you have unconsciously learned for your next presentation deck.

3. Leadership

Great efforts go a long way in any social circle. By achieving results, doing things better than before, sharing and caring for your colleagues, you develop leadership skills. Does it bring you joy when someone achieved an awesome result with your help? Does this motivate you do achieve even more?

Tip: Try being open to sharing and compassion with your work colleagues as well. 

4. Goal orientation

Achieving milestones is awesome. It is even better when we do them out of pure joy. Having a hobby demands some type of goal setting and completion. You want to enlarge the collection, or have more time to practice, or be present at more gatherings.

Goal orientation also means planning skills. No goal can ever be achieved without the proper management of resources, no matter if material or non-material. This is where you develop the skill of combining all aspects of what it takes to get stuff done. We need that in business also! Right?

Tip: Look into how you have set your hobby goals so far. What can you learn from the experience?

5. Competition

Most hobbies require having a competitive spirit. It is one thing for you to be born with such a talent, and totally another to nurture and evolve this trait. By competing outside of work you gain the following positive experiences:

  1. Delivering results under pressure
  2. Being confident in you abilities
  3. Having the urge to win
  4. Coping with loosing
  5. Self-evaluation and improvement.

Wow! All these things with just competing in your hobby! Don’t you thing that some (or each of them) would be useful tomorrow at work?

Tip: Manage professional drawbacks the way you manage loosing a match. Focus on your goal and understand that failure is part of the learning process. 

6. Sales

Sales is all about finding the right customer and identifying their needs. How on earth could this skill be connected with my hobby?  The story goes:

Playing pool as a hobby has taken up much of my leisure time during the last 5+ years. I trained hard to achieve my goals. Soon results started coming in, confidence started to rise and I liked it even more. A business opportunity was on the lookout. What if I could sell my skills in the form of lessons?

Interestingly enough, with the help of the local club and friends, we created the first Pool School in our country. This was the easy part. The hard part was trying to push this new idea to the market. How do you identify the needs, where is the market located, will it pay enough, how do we reach them, what do we say? Long story short, we outdid ourselves, despite all the ups and downs. Plus I walked out of there with some improved sales skills.

To do: Think of the last time you tried to sell something that is connected to you hobby? How did the process go? Can you use some of that experience in your profession?

7. Analysis

Analysis is the method of dissolving something into smaller elements/subjects. This is how we get a better understanding of the big picture. You could probably relate this method to the beginning phases of your hobby. Doing a lot of research about the details, participants, communities, relevant resources, communicating with leaders and so on. All of these actions contribute to a better comprehension of the activity you have chosen. Analysis drastically improves your chances of getting better.

Tip: Try to use you hobby research methods next time you need an analysis needed for work.

8. Patience

Learning a new trait takes time. It is riddled with both positive and negative outcomes. The sheer passion was your only motivation to sustain such drawbacks, especially when you were starting out your hobby. By exercising such permanent action, you become focused on the outcome. This is precisely the art of patience – being ready to invest time and resources for the greater future benefit.

Tip: Next time you seek immediate results just think of your hobby – the greater input, the longer it takes, but the bigger the outcome.

9. Time Management – Productivity

Would’t you spend all day doing your hobby? Yet always reality kicks in, you have to go to work or take care of chores. Your need to have quality time doing your passions makes very good at developing another skill – time management.

By planning in advance, you get the most of your time. The resources are used in the best possible way, your time is limited, but the goal is always achieved – you have fun. This is where you might say – “..but this is my hobby, not my job..” That is correct, but time management can be used in every part of you life.

Tip: Try to plan your workday just as you plan you hobby time.

10. Financial Management

Finally we come the finances. Most hobbies do require some amount of financial contribution. Whether it is in buying items for your collection, visiting events, purchasing equipment and many activities, money can seem like huge constrain.

We rarely think of how we manage all the constraints. Planning a hobby budget, exercising discipline, saving strategies or even selling part of the collections to sustain the passion are all segments of financial management. The next time you consider yourself to suck at finances, just look at how well you manage your passion.

Tip: Think of financial management as a tool that will help you have even more fun. Or be better at your job. 

The outcome of having a hobby

By now we should become more confident in our abilities. Although life is not easy, think of the moments that make you happy. A hobby provides the escape route of modern problems. But having a hobby is more than just being happy. It contributes to your set of skills and makes you better at everything you do.

Some of the main benefits of having a hobby are:

  1. Increased level of happiness
  2. Stress relieve
  3. Better productivity
  4. Improved self confidence
  5. Mental and physical health

A clear winner among the benefits (that is not part of the list) is

stepping out of the comfort zone

You read that right! Something that makes us all afraid – to try new things, venture into the unknown, fail, fail some more, but persist. By listening to the inner voice, you chose to do something that might seem odd to others. You invested resources for the ultimate goal – happiness.
Dear readers, this is exactly what you should be most proud of! Continue with the mindset and use you skills for different purposes.
Till next time!

Further Reading

Short Term Thinking- The Story of the Street Musician

Short Term Thinking- The Story of the Street Musician

This is the story of how one excellent street musician will never get pocket change from returning visitors. He has short term thinking!

For the past week I have been passing a young street musician who plays a brass instrument. He sits in one of the most congested locations in the city center, daily being heard by tens of thousands of people. My first impression was that he is very talented. He plays a rare instrument so he brings more value than, lets say, a guitar player simply because everyone has heard a guitar at one point in time. The outcome – lot more attention and tips. Without hesitation, I left tips two days in a row.

Here is the fun part – the “value” he brings to the listener somehow started to feel dull after a few days. That is when I noticed something: he was playing the same song all the time! Or 2 which were very similar. You did not have to be a musician to notice the same tunes, which made it even more obscure. This is when I started to ask the following questions:

  • Am I the only one who noticed this?
  • Am I grabbing lunch at the same time daily, so I catch him playing the same song in his repertoire?

To answer my questions I changed my schedule by 15 minutes. And whoala – he did the same thing, even in time differences of 15, 30 and 45 minutes! A song cannot be that long.

Now you would ask yourself what does this story have to do with business at all? Well you see, he does have a product (music with a rare instrument), that brings value to customers (listening to music makes increases happiness) and makes money selling it (or at least tips by anyone who has that wish). But the strategy behind the whole gig is set on short term goals. Why?

Not differentiating customers and their needs

Bringing the same value to every listener might be good in the beginning when no one knows your product. They are aroused by the new tunes and instantly attracted. But this is only for first or second time listeners. I pass there every day at least twice, so in a month I approximately count as 40 first time listeners. Now count all the business people who work around the location, visiting 40 times a month. WOW!

Money

Why would you want to keep your tip box empty? Or, even worse, stop your performance to empty it!? The perception is that he does not attract returning listeners because keeping the box empty attracts pitying first time listeners. They seem to think: “look at this poor talent! No one wants to help him”. But, for me, as a returning listener, this practice had an extremely negative effect. Once you see it, you start to question his credibility and talent. Things will never be the same.

Lack of motivation

Passing few days later I started to notice that he actually lacked energy. Imagine a young person playing a cool instrument, but having no passion and interaction with the public. Why would anyone in their right mind do that? It is all up to the short term goals – they are achieved with a lot less energy than needed, tips are good, I do not care to improve, who cares about returning visitors. Well your goals are way too mediocre for the product you have on hand.

The customer

Well informed customers will not pay for the product/service if the delivery is below average, or if they have been “defrauded” once. But the reality is how many actually are in this group? If such critical mass of customers formed, he would have been changing often and I would have seen it.

Bringing it together!

We can conclude that the street musician’s strategy for short term thinking just enough to please his needs and the market. Who needs to grow when the market has no need for more. Or is that the presumption you need to have? Thinking short term does have immediate rewards, but it does not enable sustainability. Think of this basic example – did people really need the first Ford Model T? Of course they needed it, but did not know it was possible. Now, do really people need the Tesla, when we have a saturated market of combustion engine cars? Time will tell, but it is the future of energy. My point is that eventually short term strategies get run over by those thinking on the long term. Their value is far more superior and customers love them more. Yes, it is extremely hard to think and act on the long run, but it is always worth the wait.