Do You Really Want A Business Of Your Own?
At one time or another in every life, one decides that he or she would like to open a business. You may be tired of someone else getting rich from your efforts or maybe you want the freedom that goes with owning a business. But, is it enough just to want your own business. What does owning a business mean? What does it take to be an entrepreneur? What do you need to open a successful business? There are thousands of businesses that open one year and within a few years are closed. Everyone has been to a restaurant or store one time and when they return in a few weeks, it is no longer there and something else has taken its place. It seems as though it is a never-ending cycle.
Today, I want to tell you what I believe it means to be an entrepreneur and to own a business. The most important thing that one must have is guts! Are you willing to put your life savings at risk? Everything that you have worked for in the past is now at risk. That savings account that is there as a safety net may have to catch you if you fall. You also must have a strong desire to have your own business. It is not enough just to want a business.
You must live it, breathe it and sleep it. Therefore, you need to start a business that you will be happy with. Although there will be good times and bad times, you need a business that you are committed to seeing through. There may be times that you have to miss a child’s baseball game or soccer practice. And when problems arise, and they will arise, are you the person that can handle the stress of it all, or do you fold under pressure? One of the biggest challenges facing the small business owner is MONEY, or lack of it. Business experts usually recommend that you have enough money to pay your personal expenses for about a year. It usually takes at least that long to begin to show any real profit. So, the small business owner does not want to get into financial difficulty during the first few months. The number one reason that small businesses fail is the lack of funds to continue the operation. Another question that must be asked of the aspiring entrepreneur is do I have the knowledge that it takes to operate a business and if not, can I find someone that can help me to make this business successful? Perhaps there are family members that would like to partner with you and make a family business.
If you are unsure of the type of business that you would like to start, take your time to identify the business that is just right for you. There are thousands of different businesses out there, and it may take you a little time, but one of them is right for you. Identify whether or not your business has long term potential. You do not want to be on the tail end of a fad. It is easy to operate a business. All you have to do is select something that you like to do. Be willing to risk everything that you have saved in your life. Be willing to miss things such as baseball games and soccer practice because a machine broke down that is necessary to get out tomorrows order. Work on few hours of sleep, because you stayed awake most of the night trying to figure out what to do since your biggest customer just went to your competition. Eat on the run – if you even have time to eat.
Spend time at your kitchen table writing up orders or balancing the checkbook because an invoice is due and you are running low on funds and some of your accounts receivables are not received. Call the landlord, again, because the air conditioner went out again. Find someone to work because one of your employees called in sick. See how easy it is. But overall, most business owners believe it is worth it. Because instead of saying I work for , you are now qualified to say I am a business owner.