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Should I Start my Own Business
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Should I Start my Own Business?
Do you hate your job? Do
you count the minutes at work, wishing your life away? Are you impatiently waiting for Friday evenings
on Monday Mornings? Do you work in misery for 50 weeks a year so you can spend two weeks on vacation
wishing it would never end? If you answered yes to these questions you need to 1) Find a new
job, or
2) Start your own business
doing something you enjoy.
Do you have the right personality to start your own
business and be successful?
Do you have the strengths to be the owner and manager of a
small business? Risks of running a
small business cannot be completely
eliminated. However, with the proper planning and preparation you can significantly increase your chances of
success. Before becoming an entrepreneur, you should evaluate your strengths and weaknesses. Ask yourself the
following questions:
- Do you have the drive and persistance to make your
business successful?
When you are running your own small business there
will be no one to manage your time, hand out tasks, develop projects, or monitor and evaluate your progress.
You will not have a boss to answer to. Do you have the discipline to work the long hours needed to reach your
goals? Success in small business requires persistance.
- Can you make your own decisions?
As a small business owner you must make
decisions for yourself. Be prepared to make quick decisions, under pressure. You should have good problem
solving skills.
- Are you a people person?
Entrepreneurs need to have relationships with various people. It is important to be respected by customers,
employees, suppliers, bankers and other people you will need to communicate with on a daily basis. It is
important to come across as confident to others. You should also be prepared to deal with potential conflicts
such as, angry customers, upset employees or difficult bankers, accountants, government auditors or lawyers.
- Are you organized?
Your success will come easier if you are organized and have strong time management skills. Research has shown many
small businesses have failed due to poor time
management and lack of organization skills.
- Will running your own
business negatively affect your relationships with your
family and friends?
Starting and running a business is a great deal
of hard work and requires long hours and days. Before taking the leap, you should discuss the pros and cons with your
family and friends. Expect to miss out some social events on evenings and weekends.
Copyright © Rob Marriott
All Rights Reserved.
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