Why Starting a Business Could Be a Nightmare

There are many studies that show entrepreneurs are often happier creating their own paths. Then you hear and read the stories of the entrepreneurs who lived out of their cars only to sell their businesses for millions of dollars just a few years later.

It makes sense why so many people leave their offices for a shot at the big bucks. But, owning your own business and working at your passion may not make you rich.

What People Will Pay

You might dream of living your passion, and finally do. Yet, if you're just average at your craft--can you really make a living? Say you love to paint, and everyone in your family tells you how great your pieces are. So, you decide to sell your work at flea markets and art shows.

You soon realize that you can't even give away your art. Perhaps there just isn't a large enough demand for what you do. Working your passion is tied to the emotional element. Nonetheless, as much as love painting, it just isn't going to pay the bills.

On the other hand, you could read this Timothy Sykes review and learn how to trade stocks. Then, you could make more than enough money to pursue your passions without financial worries.

Many Businesses Fail

Even with our best intentions and work ethic, around 90 percent of startups fail. You just have to come up with an original idea, at the right time. Then, you must execute your idea and remain flexible enough to make changes over time.

Even if you are sure you will succeed, you might be overly optimistic.

Don't Burn Out

Even if you make a lot of money, you can burn out. You might work at your business 80 hours per week for several years. Then, you start to find that you no longer want to get out of bed in the morning. You can't even remember what car you drive because your brain is so foggy.

In this case, you have overextended yourself for a business that doesn't have your passion. If you aren't passionate about the work, you will burn out quickly.

Getting Rich Quick is Rare

Many overnight successes seem like a dream come true, but they often don't happen overnight. Instead, media outlets like to promote these get-rich-quick stories to attract more readers.

Most of the time, it takes years of effort and many failures before someone becomes a success. Many successful businesspeople have had several business failures before they found one that worked.

Businesses Can Be Expensive

Running a business isn't just about profits. You also have to pay for everything such as staff, office space, raw materials, utility costs, taxes, legal fees, insurance and more.

If you have profits, there will be more to add to your list of fees and business expenses. Then, you'll have to keep figuring out how to make more profits so that your business doesn't go bankrupt.

Final Thought

Running a business may appear to take all your financial worries away, but it could also have the opposite effect. There are times when you’re better off using tried-and-true techniques for making money such as investing.

Author:.

Carmelo is a marketing writer and blogger helping small and medium size businesses craft winning content strategies. She's always scouting the web for new social media strategies and is slightly addicted to apps. When not tapping the keyboard, you are likely to find her in the park playing with her uncontrollably friendly Irish setter or trying out new vegan recipes.

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