Do you have what it takes to run your own business?

Do you have what it takes to run your own business

Image courtesy of FreeDigitalPhotos.net and Ambro

It takes a certain personality to run your own business. You need to have discipline, drive, determination, be willing to fail fast, and regroup faster. The first few business oppourtunities may not work for you. But are you the type that will give in, or learn from your past experiences?

If you consider the amount of time, training, discipline, and drive it takes to create a business, most people would just be thankful for their steady paycheck from “The Man” and never wane.

But think about it…

When you’re working for someone else, you help build their empire. They decide how much money you’re worth, and, if you’re lucky, in a year, you’ll get a 50 cent per hour raise. Most people have to work 3-4 months out of the year just to pay their taxes on that income.

After a year, you’ll receive 2 weeks vacation. You get up early to fight rush hour traffic. You spend hours behind a desk hoping that what you’re doing is important enough to be saved from the next round of layoffs.

Your boss asks you to work late, come in early, work weekends, and give up your precious time to finish projects. You’ll do it to get that raise, the promotion, the “next big thing” that will help your family get out of the rat race. But with more money, you’ll get more stuff. Maybe you’ll buy things to keep from feeling guilty about staying away from your spouse and children so much. Your debt gets bigger, and then you need to work more.

In 30 years, (if you’re lucky enough not to get laid off) you’ll receive a pension that most likely won’t cover your cost of living…that is, if you haven’t already had a heart attack or stroke from stress or poor health, (fast food, lack of exercise from living behind a desk.) forcing you to take a part time job. Since our society doesn’t relish our seniors, (sad, but true) most of your options will be in places like Wal-Mart, McDonald’s, and other chain retailers, where you’ll earn minimum wage. How useful is that fancy college degree now?

Don’t climb the corporate ladder…

BUILD YOUR OWN!

When you run your own business, you get to choose your own hours, your own vacation, you get enormous tax deductions, freedom, security knowing you won’t fire yourself, and that you have complete control over your future.

In order to have true success, your business must suit your personality, and you must create a system to follow. If you are the only one who can do the job, well, then you have another job, not freedom!

This is the difference between being self-employed and running a business.  Many self-employed people get so caught up in the excitement of being their own boss that they don’t realize the benefit of having a system. If your business is not systemized to run without you then you still have to work to get paid.

If a music teacher has enough private students that they don’t need to work at a school or an organization, they’re self-employed. But, if they get sick, they won’t get paid.

If a massage therapist is limited by how many clients they can realistically take in a day, they’re self-employed. But if they go on vacation, they won’t get paid.

If any self-employed person is limited by the projects they can do or the billable hours they have, then they’re not a true business owner. A business needs to exist outside of you in order to be viable. Once you do create a business that can run in your absence, you are truly creating financial freedom. After all, isn’t that what we all want?

Do you have what it takes to run your own business? Can you create a system that exists without you?

 

 Think about all the extra money you could make by being a mystery shopper, starting your own business, or working from home for a legitimate company.  Take control of your income and check out our LEARN page for a list of classes, books, and more!

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