Each and every entrepreneur usually finds himself or herself driven to start a business for a variety of reasons. Most of them will talk about the need to achieve financial freedom, pursue lifelong passions or just the need to be in control of things. The reason for pursuing this line notwithstanding, many people are resorting to start an organisation of one, and their numerical growth has been phenomenal over the years. Here are some reasons why this has happened;
The playing field has been leveled by technology
Because of all the technological advances, the growth of the internet, the introduction of cloud computing, faster and more reliable internet connectivity, more bandwidth at affordable rates and the phenomenal growth of mobile telephony and the introduction of myriad devices over the years has greatly leveled the playing field for both large and small companies. A small company can adopt cloud computing and get world class services at a fraction of what it would have earlier invested.
The internet is also full of information that can be sifted, graded and used effectively; previously, such information would be quiet expensive to get or even have a rough idea about it. Because of these developments, clients are also more willing to try out goods and services from a wide variety of organizations, provided the price and quality are right. In most instances there is very little difference in terms of quality from either organisation.
There has been a lot of business restructuring and financial hiccups
All around the globe there has been a lot of financial hiccups in terms of recession, fluctuating foreign currencies and generally negative growth numbers. These issues have forced many governments and private businesses to shed some jobs and render people jobless. So a good majority, finding themselves out of work has resorted to being innovative and starting their own businesses either at home in the basement or renting out some small space elsewhere. It can thus be said that the growth in the number of entrepreneurs has also been out of necessity rather than outright planning, a good number just decided to get the best out of a bad situation.
There is a wider market for goods and services
The upsurge of the internet and the current growth of mobile telephony have over the years broken down the hitherto impregnable geographical boundaries of certain countries. A consultant in the US can easily do some work for a company in China and get paid for that. The market is no longer just local, many organisations of one are now competing for jobs on the international platform, and this makes the enterprise more challenging but quite rewarding too.
Concerted effort from governments
Most governments across the globe have over the years noted the amount of money that can be generated by a self employed, business oriented citizenry. Towards this, they have constantly developed laws that are friendly towards such arrangements, offering tax rebates where necessary, and also teaming up with the citizenry to help get a market for the services or goods that the countries organisations may be strong in either developing or providing. A case in point is a country like India and the software industry; it has some very friendly laws and tax rebates for software developers working either at abroad or in the country. This has encouraged many programmers to form their small organisations and work from home.
Success stories from trailblazers
The number of success stories emanating from early risk takers in the entrepreneurship train has encouraged many people who would otherwise be apprehensive to take the leap of faith and delve into the organisation of one arena. Most technology entrepreneurs over the past 3 decades or so have been greatly influenced either knowingly or unknowingly by the stories of Steve Jobs of Apple Computers, Bill Gates of Microsoft, and Michael Dell of Dell Computers to name but a few. Others in different fields have been impacted positively by the achievements of people like Sir. Richard Branson of Virgin Group of Companies, Warren Buffet the investor with a Midas touch and lately the Facebook Guru Mark Zuckerberg.
Because these people did work alone for some time before joining hands with other likeminded individuals , the current crop of entrepreneurs draw a lot of comfort from their success and are willing to work tirelessly as an organisation of one till they achieve their ultimate goal(s).
The current generation is more aware about organisations of one
The current family structure is more receptive and more aware about available business options. The society no longer frowns upon parents or children who decide to work from home, children also have grown up to accept and know that it is possible to do a lot of work over the internet or by making calls or using any available medium. Parents and children are thus more open or willing to start an organisation of one if given an opportunity, as he or she is bound to get the backing of his or her immediate family members. This is a critical ingredient for success of any business enterprise.