Not everyone is cut out for becoming an entrepreneur. There is a sense of security in getting a regular paycheck. For some hardy, adventurous people, however, being their own boss is a thrill like no other. It is worth all the stress, long hours, risk of failure, and occasional hard times to take their own destiny in their hands.
The process can be easy. All that is usually required to 'set up shop' is a business license. The internet has opened up a whole new arena of enterprise. If you don't want a virtual business, you can run a booth at a flea market, cut and color hair in your kitchen, or open a booth in an antique mall. You can sell the produce from your garden on the side of the road or at a farmer's market. This is running your own business.
Of course, sometimes you need special training, or a license, or a certificate of skill. If you want to own an electrical contracting company, an accounting firm, or a counseling practice, you will have to comply with local and state requirements to be legally allowed to operate.
Any small business will need some working capital. You will probably need tools or inventory - although you might already have that. Some people live for years by selling the contents of their grandparents' attics. Look around to see what assets you have. A handyman only needs a saw and a hammer. Of course, you might have to rent or buy premises, put in specialized fixtures, or comply with health and building codes for some operations.
Capital can be borrowed, if you have security to put up for the loan. It can come from personal savings or credit, from friends and family, or from others who might want to share the risk and the responsibility - as well as the profits - as partners. Most beginning businesses are under-capitalized, according to the experts, so make sure you know how much money you will need to open up and operate before significant income is generated.
If all this sounds daunting, you might not be cut out for owning your own business. However, if it sounds like more fun than stress, go for it. Owning your own business can be better than a college education for learning life skills. Sometimes it is better to try and fail than never to try. And anyway, you just might be in the minority that makes it.
A successful small business is a ticket to the big time for many people. Although most start-ups fail, the base of our national economy is small companies. Their owners often achieve high incomes and a great way of life. For fascinating reading, check out some of the how-to books and tapes that are available on being your own boss.
Anyone with a great idea, a product that fills a gap in the market, or a service that is in constant demand can realistically contemplate becoming an entrepreneur. It could be your ticket to fortune and fame. Even if it is just a living, it can mean satisfaction and a lifetime of loving what you do.
The process can be easy. All that is usually required to 'set up shop' is a business license. The internet has opened up a whole new arena of enterprise. If you don't want a virtual business, you can run a booth at a flea market, cut and color hair in your kitchen, or open a booth in an antique mall. You can sell the produce from your garden on the side of the road or at a farmer's market. This is running your own business.
Of course, sometimes you need special training, or a license, or a certificate of skill. If you want to own an electrical contracting company, an accounting firm, or a counseling practice, you will have to comply with local and state requirements to be legally allowed to operate.
Any small business will need some working capital. You will probably need tools or inventory - although you might already have that. Some people live for years by selling the contents of their grandparents' attics. Look around to see what assets you have. A handyman only needs a saw and a hammer. Of course, you might have to rent or buy premises, put in specialized fixtures, or comply with health and building codes for some operations.
Capital can be borrowed, if you have security to put up for the loan. It can come from personal savings or credit, from friends and family, or from others who might want to share the risk and the responsibility - as well as the profits - as partners. Most beginning businesses are under-capitalized, according to the experts, so make sure you know how much money you will need to open up and operate before significant income is generated.
If all this sounds daunting, you might not be cut out for owning your own business. However, if it sounds like more fun than stress, go for it. Owning your own business can be better than a college education for learning life skills. Sometimes it is better to try and fail than never to try. And anyway, you just might be in the minority that makes it.
A successful small business is a ticket to the big time for many people. Although most start-ups fail, the base of our national economy is small companies. Their owners often achieve high incomes and a great way of life. For fascinating reading, check out some of the how-to books and tapes that are available on being your own boss.
Anyone with a great idea, a product that fills a gap in the market, or a service that is in constant demand can realistically contemplate becoming an entrepreneur. It could be your ticket to fortune and fame. Even if it is just a living, it can mean satisfaction and a lifetime of loving what you do.
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