Do You Really Want A Business Of Your Own?
Monday, November 13, 2006
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.
About The Author: Paul Taylor is a business owner that helps
other business owners and entrepreneurs locate wholesale
distributors and dropshippers. Visit his website at:
http://www.WholesaleMap.com
posted by Dennis Cheesman @ 5:46 AM,
