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Tuesday, February 24, 2015

Why does business exist in the first place?

The internet and print media are flooded with articles and messages about business growth, sales, management and personalities every day. But one basic question has been haunting me for a while. The question is, “why does business exist in the first place?” This question is different from why people do business, or how you can find business opportunities.

I started doing some Google research and honestly couldn’t find a satisfactory answer for it, or let alone an answer that could have amazed me. However, during that time of creatively optimizing my leisure, I found some things worth sharing.

There are different types of people who do business:
  • Change makers, who want to change the way we perceive things
  • Freedom seekers, who want to escape the rat race and live the way they choose
  • Legacy builders, who want to be remembered for their good deeds
  • Passionate creators, who constantly believe it’s worthwhile to see the world the way they envision it
  • Risk takers, who believe ‘no pain no gain! Period.’
If you want to start your venture, have just started or have even been in a business for long time but are planning a new venture, you are likely to hear a million reasons not to go ahead because it’s too risky, you might go into debt, you’ll probably lose sleep, your social life will be ruined, and more. But even with all these uncertainties, people are still attracted to the startup world.

If you get past these reasons, then you will bombarded with practical tasks including:
  • Creating a Vision, Mission and Value statement
  • Developing a product or service and business plan
  • Formulating your Unique Selling Proposition (USP) and positioning it in the market
  • Operations and people management
  • Cash flow and revenue projections
If you go back into the ring after that round, then you will continue with further demands of:
  • Setting up a sales and marketing strategy
  • Conducting research and development
  • Implementing processes and customer service
  • Understanding legal and financial subtleties in order to optimize delivery
Are you a still in the game? Now you need to take a look at:
  • Innovation
  • Technology
  • Coaching and mentoring
  • Leadership skills
  • Social media
But where in the midst of all of these demands is the answer to the question of “why does business exist in the first place?” To get closer to the answer to this question, I’ll refer to my own journey. These are some of the issues I faced:

• When I was looking to build a website, people said ‘You worked in IT.  Do it yourself’ (I am not a professional web developer though I worked in IT. To some people, working in IT meant I was a super genius who could do anything and also had unlimited time to do it)

• When I was looking for legal contracts, they said ‘Just get it from the internet.’ (Yes, I can get generic contracts but they would not suit my needs or provide any in-depth learning that I would get from working with a professional)

• When I was writing my book “Success Secrets for Migrants” (which will be published soon), people said ‘You can do editing and typesetting yourself.’ (super-genius syndrome again!)

• When I was looking for a tool to manage my business, people said ‘Do it in Excel.’ ( Yes I could, but it would not be clean and effective or have the functionality I needed)

• When I was renovating my house, people said ‘Do it by yourself.’ (in addition to NOT being an IT super-genius, I’m also NOT a plumber or electrician)

How did I get past all of these obstacles? When I got stuck, or I didn’t/couldn’t do something, I finally outsourced it - and that’s where business happened.

So if you can’t do something or don’t want to do something that is a need, then and only then does business happen… what do you think?

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