Owning their own business is a dream for many people. I have been in business for many years and hate the thought of going back to work for someone else. Being in business is all about the ability to make one’s own decisions. It’s not about the freedom to choose when to work although you may have that option as many of of us in business actually work longer hours than employed people.
When you decide to start your own business it really is a life style choice. You must initially be prepared to make sacrifices. You will forego the comfort of a guaranteed income, holiday and sickness benefits that your employer may provide and possibly a company pension. You will also miss the support that a company will give its employees and of course you may find yourself working entirely on your own.
It is essential that you mentally prepare yourself for these challenges as many new businesses fail because budding entrepreneurs start to wither usually in the second or third year when the novelty and initial enthusiasm for their business can falter. You will need to find support from family and friends and other members of the business community to keep you going through these difficult periods.
Choose to start a type of business that you would love to do not one that you think will make the most money. If you don’t enjoy what you do you could soon fail. Most successful entrepreneurs enjoy the work they do otherwise they would move on to do something else and you should be of the same mind. If you are already an expert in a particular field that’s great but remember that knowing about a particular subject will not give you all the business skills that you will need when you are out on your own. When we work for a large company we are only one cog in a big machine and many other people will have been supporting our work. For example if you made the finest widget in the world I bet you didn’t have to go out and get orders, handle accounts, buy materials and so on. If you work for yourself and initially on your own you will have to do those things on your own until at least you can afford to either outsource or employ someone to help you.
Having your own business is something that you should consider if you are happy losing the security of a job and meeting many challenges. It is not for everyone but if you have the desire then make sure that you plan properly and learn how to do it right. Within this website you will find many articles that will give you the advice that you need to help you and many more will be published in the future. If you have not already taken up your free membership of The Entrepreneur Club I would like to encourage you to do so today. You will not be spammed and you will only receive emails from The Entrepreneur Club.
If you are already in business what tips would you give to our readers?