There are numerous different figures written about the failure rates of small to medium sized businesses. Typically they report that somewhere between 30-50% of all new businesses fail within the first three years.
While this may shock some of you who are "champing at the bit" to become your own boss, the harsh reality is that not everyone is cut out to run their own business.
People who are used to their "cushy" 8 hour day, regular holidays, free weekends, sick pay, holiday pay etc. are rudely awakened when they start out running their own business. For new business owners, their new work choice becomes a 24/7 operation.
Believe me when I say that even when you're sleeping, it is not unusual to be contemplating the forthcoming business day in the back of your mind.
Not that I'm aiming to break the spirit of you "budding entrepreneurs", but it is important that you think all things through before perhaps leaving your existing, secure, family friendly job.
Don't get me wrong. I wouldn't trade being my own boss for anything. The key thing to ask yourself is "do I want to own a business, or own a job?"
Business owners and wannabe business owners- let me know your thoughts.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment