The Truth and Lies of Owning Your Own Business
The Truth and Lies of Owning Your Own Business
Initially there is the draw to the "romance" and excitement of carving out your own niche and creating a place of your own in the business world. But after a while, reality sinks in and this great plan you had can slowly begin to become a burden. You may discover it is not what you had anticipated. Your passion begins to fizzle and you can hardly entertain the thought of continuing on.
Unfortunately, this is what can transpire when someone isn’t prepared or aware of what owning a business is truly like.
People need to be educated on the ups and downs, pros and cons, and realism as to what the journey of becoming a business owner is about. We need to put to rest the fallacies that potential new business owners fall for. It is because of these untruths that many individuals who venture into becoming an entrepreneur fail. Many times their dreams are pushed to the wayside due to being misguided by what they have heard.
One of the most prominent fallacies is that "anyone" can own and operate their own business. This couldn’t be further from the truth in my opinion.
A person needs to have the dedication, tenacity and drive that will see them through all the nuances that starting a business brings. Self-management is another quality that is a must and if an individual does not possess this, they are in for a very rocky road. Before diving into becoming an entrepreneur you need to take an honest look at yourself, evaluating the traits needed to be a successful business owner.
Another misguided belief is that a company will see financial success and gain in a short period of time. The reality is that a large percentage of small business go under within the first two or three years. Being that studies show it takes three to five years for a business to show a profit, there are some companies who are either giving up too early in the game, or not planning well for the long run from its inception. If more people were made aware of the financial issues and understood the reality in profit and loss for a new business, I believe there would be a larger number of businesses that could survive. Starting a business is not something that is going to make you rich in the first year, let alone in the first few months.
While dissecting two of the most heard and believed fallacies, we can give a more realistic view to a future entrepreneur in what to expect when starting their own business. Is this meant to discourage you from starting your own business? Is this meant to provide a negative view of becoming an entrepreneur? Not at all. Owning your own business can be the most rewarding, stimulating and liberating experience a person can have. It is necessary though to be fully aware of the time and financial aspects, along with the realistic expectations in starting a business of your own. If you join the entrepreneur playing field with the blinders off, and your eyes wide open, there will be much less frustration and an increased opportunity to create a satisfying and successful business.
The Truth and Lies of Owning Your Own Business - To learn more about this author, visit Cyndi Webb's Website.
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While the trend continues to rise with millions on the entrepreneur playing field, more and more people find themselves contemplating whether starting a business is right for them.
Initially there is the draw to the "romance" and excitement of carving out your own niche and creating a place of your own in the business world. But after a while, reality sinks in and this great plan you had can slowly begin to become a burden. You may discover it is not what you had anticipated. Your passion begins to fizzle and you can hardly entertain the thought of continuing on.
Unfortunately, this is what can transpire when someone isn’t prepared or aware of what owning a business is truly like.
People need to be educated on the ups and downs, pros and cons, and realism as to what the journey of becoming a business owner is about. We need to put to rest the fallacies that potential new business owners fall for. It is because of these untruths that many individuals who venture into becoming an entrepreneur fail. Many times their dreams are pushed to the wayside due to being misguided by what they have heard.
One of the most prominent fallacies is that "anyone" can own and operate their own business. This couldn’t be further from the truth in my opinion.
A person needs to have the dedication, tenacity and drive that will see them through all the nuances that starting a business brings. Self-management is another quality that is a must and if an individual does not possess this, they are in for a very rocky road. Before diving into becoming an entrepreneur you need to take an honest look at yourself, evaluating the traits needed to be a successful business owner.
Another misguided belief is that a company will see financial success and gain in a short period of time. The reality is that a large percentage of small business go under within the first two or three years. Being that studies show it takes three to five years for a business to show a profit, there are some companies who are either giving up too early in the game, or not planning well for the long run from its inception. If more people were made aware of the financial issues and understood the reality in profit and loss for a new business, I believe there would be a larger number of businesses that could survive. Starting a business is not something that is going to make you rich in the first year, let alone in the first few months.
While dissecting two of the most heard and believed fallacies, we can give a more realistic view to a future entrepreneur in what to expect when starting their own business. Is this meant to discourage you from starting your own business? Is this meant to provide a negative view of becoming an entrepreneur? Not at all. Owning your own business can be the most rewarding, stimulating and liberating experience a person can have. It is necessary though to be fully aware of the time and financial aspects, along with the realistic expectations in starting a business of your own. If you join the entrepreneur playing field with the blinders off, and your eyes wide open, there will be much less frustration and an increased opportunity to create a satisfying and successful business.
The Truth and Lies of Owning Your Own Business - To learn more about this author, visit Cyndi Webb's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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