The ONE reason to start a business

There is only one reason to start a business. ONE.

But, before we get to that, let’s start with 2 of the 100’s of common, and thus ultimately stupid, reasons to start a business that almost always lead to failure.

“I’ve identified an opportunity”. Look, sorry…but if you see a gap in the landscape of offerings, it’s probably because there isn’t a lot of demand for it. I’m just sayin….no offense…but I really really really doubt that you are the very first person to see that a certain business does not yet exist. There are teams of people at large corporations looking to “expand market share” via “new verticals”, and other fabulous terminology. The fact is, they’ve probably passed on your idea because it doesn’t work.

“I want to be my own boss”. OK….that’s great.  But guess what, you never really are your own boss.  Your business is your boss, and it needs more from you than your current boss.  If you’re not ready for MORE work and LESS free time, don’t leave the cubicle with the 2006 schedule of your favorite team pinned to the wall.  Think about it….you’re selling yourself using the same tactic that late-night infomercials try to sell you with.

So enough of that.  I mean I could go on all day with the silly “reasons” that people have for attempting to start their own business….which typically looks more like a laundry list of reasons for disliking their current situation more than something positive/productive.

The fact remains, that in my mind, there is only one reason to do it:

The only reason to build a business is so that YOU can be a customer of it. Because you WISH it existed.  Because you would pay a premium to be its customer.

THAT is the frame of mind that creates a successful startup.  Because it….

• insures that you know what the customer will demand, and that you can exceed expectations
• requires DEMAND in order to exist.  If you WISH it existed, then it’s certain others do too.
• Gets you focused on the customer point of view from the beginning, instead of the other way around

When I look at Zappos, I think “you know, I bet the founders just really wished there was a place to shop for shoes online that was EASY and had BETTER SERVICE than regular shoe stores.”

When I look at theLadders, I bet they said “I wish there was just a site for well-paid executives, that weeded out the clutter for me.”

Build the business that you wish existed.