Are you thinking of jumping off the corporate ship and climbing up the small business ladder? Just like marriage, running a small business means you’ll be living with it 24 hours a day, 365 days a year. You’re going to have work hard and hang in there during the ups, downs and surprises. On the bright side, if you have a flare for great ideas and a positive attitude, running a small business could be one of the best choices of your life.
Will you run your business by yourself or are you partnering up with a friend, neighbor or co-worker? Running your own business by yourself can seem like a great idea but it’s nice to have the help sometimes.
Are you willing to work hard and make small sacrifices? You will need to live life on a budget while getting your business off the ground. Are you okay with that? Is your family okay with that?
Do you have the necessary capital to start a small business? Have you made a budget? It’s a good idea to sit down with your accountant and make sure your finances are in order before tackling becoming an entrepreneur.
Will you be running your office from home, renting a new location or sharing office space with other small business owners?
Do you have the self-confidence and self-discipline to run a small business. As we mentioned above, a successful business is similar to a successful marriage. You need to be in it for long haul for success. Initial failures and setbacks will happen – it’s inevitable – but you have to keep pushing on.
Overall, starting a small business owner will be one of the best (and most fulfilling) choices you will ever make. There are a number of things to take into consideration including partnerships, sacrifices, capital, location and personality.