So You Want to Start Your Own Business?

As an owner of a small business, let me assure you that the decision to start your own business is not one to make on a whim. Oh sure, your little mind will fill with images of you rolling out of bed at 11:00 a.m. into a pile of money, driving your Porsche to the golf course and swimming in your pool ON your yacht.

But, if you think that is reality, you have probably also paid rapt attention to the commercials where the guy, as he is washing his Jaguar, says “this is the one website you have to visit” where they tell you how you can work from home, part-time and make $15,000 a month. Yeah… sure.

The reality of starting you own business is hard work, long hours, dealing with difficult clients and little pay at times. You are in charge of advertising, shipping and PR. You have to fix the computer, do the bookkeeping, plumbing and serve as an automobile mechanic if necessary. You have to pay taxes you never even heard of before. Plus, you have to do everything else, maybe even act as security guard like Ben. That is a perfect story from the trenches.

Running your own business is not for everyone. I work sometimes from 5 or 6 a.m. until 9 or 10 p.m. Granted, it is not usually manual labor, but it is still work. I have spent sleepless nights sweating like Mike Tyson in a spelling bee because I did not know if or when I would get that “next job”.

Small businesses have a high rate of failure due partly to initial bad decisions and expectations that may not be realized quickly. Most “experts” say that if you break even for the first 3 years, you are successful. After that, you should start to see some bigger returns.

So, be patient and be prepared to work harder than you may have thought. Be confident but also be realistic and careful!