10 reasons NOT to start your own business (according to most people):

1. It’s risky. Yes, that’s true. It’s more of a gamble than having a job, but the potential upside could be very attractive for those able to assume some risk. If things work out, your quality of life (not only financially) could improve greatly.

2. It requires money. Yes, that’s true for most businesses; however, there are opportunities for creative people to start with very little. Writing and website publishing are two such areas that require little start-up cash.

3. Lack of business experience. Well, what better way to learn than to get right into it? As far as an actual business education is concerned, many people run their own show with little business training, and many with formal business training do not. Learn the government regulations and requirements. Take a basic book-keeping and accounting course. And above all, hire an accountant to make sure everything is done properly.

4. You will be chief cook and bottle-washer. Everything from book-keeping, to marketing, to supplies inventory will now fall squarely on your shoulders. For some of us, that isn’t necessarily a bad thing; it adds some much needed variety to our lives. Besides, who can really do a better job, or be more motivated, than the owner?

5. You will be working longer hours than an average employee. Maybe in the beginning, but all that effort and every hour of work will benefit you directly.

6. There is a high failure rate. Most businesses fail within 2 years. Ok, while that is true, how do you think the successful ones got to where they are today? You have to attend the party if you want a chance at success. The question is: Are you prepared to assume the risk involved for a chance at a better life?

7. The security of a regular paycheck will be replaced by the unpredictability of your bottom line. Some months will be good, and others not so much. The solution here is to not get carried away during the boom months, and to put away money for the rainy days.

8. You will face criticism from others. That’s because, deep down, people don’t want you to succeed. They don’t want you to be doing your own thing while they are still stuck in the 9-5 grind. This is brought on by nothing more than pure jealousy.

You really need to ignore the naysayer because you’ve already got enough on the go trying to get your business off the ground. There is nothing constructive in this form of criticism.

9. The business will be 100% dependent upon you for survival. There will never be an opportunity to take vacation, and you can’t take any sick time. True, in the beginning stages you will have to work your tail off to kick-start things. However, as your venture becomes more successful, you might be in the position to ease up on the throttle and hire some help.

This depends entirely on your reasons for starting the business in the first place.

10. It’s a lonely existence. Sure, it can be, but again, it’s what you make of it. Yes, you will be home during the day while everyone else is at the office, but think of all the work you can get done without the background buzz of the typical workplace and the office politics.

Besides, you can get up anytime you like and take a walk, meet someone for coffee, do some personal business, or just go shopping for an hour or two. Try doing that in a regular job.

Filed under: A new life • Becoming self-sufficient

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