Not everyone has it in them, but those who are willing to make the struggle will come out on top!
Yes, Matt…you are right. That looks more negative than I mean it. Sometimes one just has to make the leap, no matter what others may say, don’t you think?
I think the question is relevant to anybody starting their own business.
In the current economic climate there are arguments pertaining to both sides of the answer,but to seriously consider starting your own business you need to look at the facts,and one of those facts is whether you have what it takes to start from nothing….
Passion for being your own boss helps but is not just enough to enjoy success.Determination to succeed is a required attribute but again is not the only determing factor.
Look at the overall picture of your business proposition and decide if you can make a go of it and if you have the necessary acumen to succeed.
Those who really have it in them to be their own boss are those people who has the intelligence, foresight, and work ethic to thrive and survive any economic climate.
The Deli across my house probably has a steadier cash and income flow than most businesses now in Wall Street who are only surviving by using borrowed money.
My hats off to the owner of that Deli.
ABSOLUTELY if you don’t already have your own company, ESPECIALLY in this economic climate, you SHOULD start your own company. This way you can write off your computer expenses, some phone expenses, gas, car, etc. When I was not going to be working but at home with children, I was told by a very wise man to do secretarial work (resumes, short form taxes, my husband’s business paperwork) and charge a fair fee. Not only was I able to write of the legitimate business expenses, we also qualified for the earned income credit because now we both were working. Of course I took a loss the first few years. At this point, I’ve turned a profit for at least 16 of the 20 years. I just dump any money I receive from a newsletter I write, plus money I make from patterns, crafts, etc. GO FOR IT! Even a small cottage biz like mine paid huge dividends in tax benefits when I needed them.
Uncertainty and the fear of failure is the biggest factor that stops all of us from taking the first step. Being prepared before you make that first step is good, but all the preparation in the world never feels enough for truly risk-averse people.
The hardest thing for most people to realize is that the most important part of starting your own company is…starting your own company.
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This post was mentioned on Twitter by glhoffman: Should you start your own company? http://bit.ly/3k0pd2…
You got it again G.L. the burning passion needs to be there and it needs to be something you can’t not do.. So, if the doubt is there then it’s probably a no go.
[...] up beautifully, “When people ask me whether they should become an entrepreneur, I tell them, if you have to ask, then I’m leaning toward answering, no.“ Case in point, during a succession planning meeting (when I was a Training Director in a [...]
Personally I think the discussion has not kept up with the reality of a workforce where “entrepreneur” and “employee” are blurring. What is a long-term contractor, for example – someone who works exclusively as a vendor for multiple companies but as part of those company’s work teams? How about a person who starts only a virtual company – who, (by design, not by accident ala the E-Myth) simply leverages technology to create a sustainable job without a boss?
I don’t think those people are traditional entrepreneurs, yet most of the discussion lumps them into that category.
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