Are You Really Ready For Your Own Business?

considerations for business ownershipAs I have learned already, running a small business is not always peaches and cream.   I expected that my small crafting business would be simple and uncomplicated.   I know now that there is so much more involved than I had ever imagined.   If only Small Biz Bee’s article 7 Signs You’re Not Ready For Business Ownership had been published back then.

I had to laugh when I saw Matt’s number five sign:

5. The thought of 16 hour days make you cringe

As we said above, starting and running a business is an inordinate amount of work. The myth is that business owners have a lot more free time than the “wage slaves”, but that couldn’t be farther from the truth. You will work longer, harder, and more intensely than you ever have working for someone else.

You can’t quite grasp how true this statement is until you have run your own business.   You’re truly mistaken if you think you’ll be able to kick back and run your business at a leisurely pace.   If you’re thinking about starting your own business, give Matt’s list a scan first to make sure you are really ready.

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3 Comments Are You Really Ready For Your Own Business?

  1. Andrea

    Hi Amanda,
    I have not heard of this book, but will definitely check it out. I’ve told many people the same thing, you seriously work more as an entrepreneur (at least at first) then you ever would being an employee. However, when you are doing what you love and it is all for you, it somehow lessens the blow!
    Thanks,
    Andrea

    Reply
  2. Martin Lindeskog

    Here is from comment on Anita Campbell’s post, The 4-Hour Workweek? Try the 40-Hour Workweek, on Open Forum. http://blogs.openforum.com/2008/07/14/the-4-hour-workweek-try-the-40-hour-workweek/

    As a regular employee in Sweden I worked at least 40 hours a week. In America I worked 40+ hours without extra overtime pay. As one of the founders of a start-up company with generous opening hours (7 AM – 9 PM weekdays, 10 AM – 4 PM weekends), I worked at least 60 hours per week. I could relate to Nate Whitehill’s situation, working around the clock. I enjoyed it, but I must admit that after a couple of years, I was a bit burned and stressed out.

    Reply
  3. Mary Grace Ignacio

    OMG! Martin, who wouldn’t burned and stressed out by that? I hope you’re fine now!

    Amanda, this is great list. And point #7 is really awakening. Must really have that strong foundation within ourselves or else will mess out the venture we started.

    Reply

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