Start a small business to provide yourself with the challenges needed for a fulfilling life. If you are ‘bored’ or you are ‘unhappy’ in your current position, you could start a business. During the day, if you constantly think about how things could be different, and that you have ideas that you know would be successful if only given the chance, you already possess the needed drive to be your own boss, and to start a business.
Having the drive to start a small business is the first step in being successful in any business. Perhaps you feel that you want to be your own boss so you can allow everyone else to do the work while you reap the benefits, this is not the basis for a successful business. First, you must want to be successful, the right frame of mind is important. Think about these topics: Are you up for the challenge of being your own boss? Can you make decisions even under pressure? In answering yes to both of these questions, you are ready to take the next step, into investigating the types of small business you are skilled and knowledgeable about, to start a small business of your own.
In preparing yourself to start a small business, you should also be aware of both the advantages and disadvantages of starting your own small business.
Some disadvantages to owning and running a small businesses include:
A small business owner often finds they work long hours. You will be working long hours as you establish the business, the customer base, and financial stability.
In a small business, you will make mistakes but you can turn this around learning from mistakes and continuing with business.
Some business owners find it financially difficult for the first years of the business.
Your business becomes your life as you think about how to manage, survive, expand, grow and change to meet the customer’s needs and expectations.
Your personal reputation is often based on the success or failure of the business.
Many advantages also exist when starting your own small businesses
You gain status and respect in the community because of your hard work and dedication
You have the opportunity to gain financially as the business grows and expands
Overall, you will gain experience in many areas of the business, marketing, sales, customer service and management to name a few
You will be able to determine when you need off; you can set your own hours
Your own ideas, skills and abilities are set in the business. You set the rules for the business.
You feel better about being your own boss. Your success if not gauged by another, you set the goals and challenges for your business.
Family members can be employed in the business if you desire or need help
You set the tone for your business, without having to compromise your morals or principles in any situation.
As you can see, the advantages truly outweigh the disadvantages when you start a small business. Create a list of your own on a piece of paper, writing down what advantages and disadvantages you feel apply to your personal situation.