Is Starting & Owning A Business For You?
People often ask me about owning a business and wonder if they should start one of their own.
They have an idea and are thinking about it, but are not sure if they can take the leap and afford the financial risk or handle the work ahead. They’re not sure what they’re getting themselves into and want to have a quick chat with me to get some info.
After 15 years of being an entrepreneur, I thought I could summarize here 10 things I didn’t realize and struggled with in owning a business (from what I can remember back then), and 10 blessings I didn’t realize and am grateful for in owning a business. In no particular order, this is what came to mind.
Hopefully this can help give you a better overall picture of “what to expect…” though you never really know what to expect when owning a business! :p
10 struggles I didn’t expect in owning a business:
Needing to pay so much in taxes & needing the help of an accountant
All the money you make, may need to go right back into your people and your business
You may go years without being able to take home a steady paycheck
The immense responsibility & lives you are in charge of when you have employees
Sometimes you have no cash flow and are pulling money out of your personal savings to stay afloat or asking for loans
Some people suddenly become “your good friend” and expect free things, discounts, or for you to be a certain way
There are a lot of risks and sometimes you have no idea what to do, but you have to be the one to make the decision and live with it
You get bills you never even realized people had to pay
As the leader you go first and everyone is watching how you will act
You’re responsible for everything at the end of the day
10 Things I discovered to be a blessing in owning a business!
You have the opportunity to employ others and give them a job & a safe place to work
You can train and teach others and give them opportunities others can’t
With a brick and mortar location, you meet so many fun and interesting people
The platform of a business provides a speaking point and way to connect easily with others in the community
Sometimes there’s flexibility which helps if you are a parent that can work from home
You can bring a vision to life and create some pretty incredible things with your team
You have a much bigger heart for other small local businesses and what they do and want to support them
You may find that you absolutely LOVE work and don’t mind doing it every day
If you make a lot, you can be generous and give a lot
Eventually, you can do the part of the business you love the most when you find the right people to grow beside you
All in all for me, I am so glad I own a business because the sweet benefits are so worth the risks!
erin’s tip
Make sure your spouse and you (or whoever is directly involved) discusses the possible pros and cons and are on board together. Pray about it daily. Read the Word for guidance. Then listen to your gut…I found that it is usually right.
