Should I Start My Own Business?
Should you start your own business?
You're at the crossroads. You can choose to continue with the safety and
security of the job you have had for years and thought you would have for years
to come, or you could venture out on your own; start your own business, make
your own money, create an extra stream of income, and ultimately be your own
boss. Which option should you choose? It's a tough decision to make and
whether or not you should start your own business is an important question to
ask yourself when you are assessing your future. I'm going to answer this
question with another several questions you should first ask yourself before you
tackle the broad question of if you should quit your 9-5 and become an
entrepreneur. Though it might seem counter-intuitive to answer this question
with more questions, these are important factors to consider before creating a
business, especially if you want to be successful.
How high is your risk tolerance?
Are you someone with debt up to your eyeballs? Do you have a family to
support? Do you have an emergency fund? I know what you're thinking. "Is this
guy really asking me more questions?" The answer is, yes. Because in order to
answer the big picture question, you first need to take a step back and evaluate
whether or not you can even handle the potentially heavy financial burden that
comes along with starting your own business. If the proverbial wolves are
already at your door, you might want to focus your energy on attacking that debt
before taking on even more. If you have children and a spouse who depend on
you for financial support, it doesn't mean you shouldn't start a business venture.
But it does mean that you have to consider more than just your own well-being
before taking the risk. Finally, if you don't have any money set aside for
emergencies, you probably aren't ready to quit the day job just yet. But don't let
this discourage you. Plenty of folks, including myself, have found ways to retain
fulltime employment while getting their startup off the ground.
Are you sure your business is a good idea?
If you're like me, you are constantly thinking of ways to monetize literally
anything. However, just because you can does not necessarily mean you
should. I spend hours upon hours and drive myself crazy thinking of ways I can
create additional streams of income for myself. However, at the end of the day I
find that 9 ideas out of 10 are garbage. I'm sorry, but if you're thinking about
starting that apparel company you think would take off, you better make sure
you have something incredibly unique to offer. Believe me, I've been there, done
that, and got the t-shirt (no pun intended). There are some out there who believe
you can truly sell anything. And sure, if you have enough money for advertising,
an incredible mind for marketing, and tons of patience, you can make anything
work. However, you are much more likely to succeed in the long run if you have
an idea that truly fills a void in the market. Check out my e-book "100 Website
Business Ideas" for inspiration and marketable businesses here:
Do you have the time?
Many underestimate how many hours and sleepless nights it could potentially
take to get a brand new business off the ground. There are evenings you might
have to sacrifice going to get a drink with the bros in order to send out marketing
emails. Or, you might have step away from the daughter's birthday party
because your product has a newfound quality issue, and customers are blowing
up your hotline. Keep in mind, owning your own business is absolutely not a job
in which you get to clock out of at the end of the day or choose not to do on
Saturdays and Sundays. This will truly become your baby if you are passionate
about what you are doing, and you might have to spend every waking moment
of free time you have to ensure your baby grows to be healthy and strong.
Fortunately for you, you will likely enjoy devoting this time and want to keep
doing it because let's face it, it's good to be the boss.
Who are you kidding?
Of course you want to start your own business. I have spent countless hours
working at a job that I had no passion for, no motivation for, no energy for, and
no desire for. From someone who has worked for a boss, to someone who has
become the boss, I can assure you that life is too short to spend 9 hours of your
day five days a week doing something that you simply do not want to be doing.
If you are the person who sits at your desk constantly daydreaming about
anything and everything you would rather be doing than this, then there is your
answer. It's as simple as that. If you want to start your own business badly
enough, you will make sure it succeeds. You will make sure you have the time.
You will make sure you have an idea that sticks. And fortunately, I have provided
more than enough information in my e-books to get you started and help you
succeed. I will answer many of the burning questions you have. Don't have a
clue how or where to get started? Read my digital guides. I have stood where
you stood, and I aim to provide concise, easy-to-read and understand
information that you can use to create the reality you have always dreamed of.
And thanks for reading.