by Sharman G. Lawson
So, you think you want to start a business? Sounds simple, doesn’t it? As you know, many people have started businesses, but some businesses survive, and many fail. However, if you really believe that being a business owner is part of your destiny, then take the time to consider a few things to make sure owning a business is right for you.
In other words, just because owning a business is right for your father, brother, cousin, or next door neighbor, doesn’t mean it is right for you.
Here Are Some Pros And Cons About Being In Business For Yourself
You Must Love What You’re Doing: If you do not like your job, it makes it hard to want to go to work. It is the same concept in business. Why would you be excited to own a business, and be your own boss, if you do not like what you’re doing? Make sure you choose a business that you enjoy, like, love, and have a passion for.
Money Cannot Be Your Main Objective: Know what your motives are for starting a business. Is making money your number one objective for being in business? If so, you may, or may not, want to start a business.
The facts are that more than 50% of businesses fail within the first five years, and the average business owner is barely able to break-even within the first few years. You might not make enough money to be in profit, and you might actually lose money. Will you be able to live with that?
You Must Be Tolerant About No Financial Security: If you like financial security and stability, being a business owner may not be right for you. The reality is, business can be up or down, and all around, literally. Some days you may generate a whole lot of money, and some days you may be at zero or minus-zero money.
It may be hard to budget your money, because you do not know how much will come in each week, or month. The secret to surviving is that during the good times you should store money away to sustain you during the bad times.
Qualities Needed For The Small Business Owner
1. Must be a risk taker.
2. Must be self-motivated, an optimist, and believer in yourself
3. Must know or learn how to network
4. Must be creative and competitive
5. Have the ability and tolerance to endure hard times
Can You Answer “Yes” To These Questions?
1. Do you have a unique idea or a spin on an existing idea?
2. Do you enjoy working alone?
3. Do you have the ability to plan the details for each step for your business to happen?
4. Do you like breaking rules and taking chances?
5. Do you have lots of ideas?
6. Is your idea burning in your heart, mind, and spirit?
So, after reading the above information are you still convinced, excited, and motivated to move forward as a business owner? Then do it! Knowing what to expect is half the battle, and being prepared is the other half. Therefore, what are you waiting for? Make it happen!
Sharman G. Lawson is the President of Care Enterprise, LLC and author of the e-book 12 Steps to Eliminate Debt Forever! Sharman is a debt-free living and relationship coach, and a small business development consultant who has appeared on television, radio and in print media. Visit Mr. Lawson’s website at www.careenterprisellc.com