You hear it time and time again. Get educated and get a good paying job. You spend a lot of time in school and you expect to get a job and work a few years then retire. There is another way to make money. Running your own business could be the ticket to financial freedom. But what is keeping more people from trying to earn more income?
Fear is a big factor. People are scared at the thought of being in charge and being responsible. When you take out school loans you know that one day you are going to have to pay them back. Jobs provide a paycheck that can help you meet your financial obligations. Running a business and shifting to a profit and loss instead of a weekly or monthly paycheck can be too much of a risk for some.
Bills have to be paid
It takes money to survive and bills have to get paid. The fear of working for yourself is that you might not be able to make enough money. You don't want to lose everything. The fear of loss can be a big reason why some only want to get a good paying job. You need stability in order to make it. Living on the edge with a business can keep you up and night.
What if I fail?
Businesses go under all the time. Taking a leadership role in creating your own future with your own business can require much more work than with a job. With a job you might have a set start time and end time to your work day. You have a set number of responsibilities. Some people enjoy learning their job and doing nothing else. Work, go home and get paid. Running your own company might mean taking on new tasks, constantly learning new things, and dealing with problems on a constant basis with long hours and weekends.
Do I have the right skills?
After you have learned how to do a job you might not want to stretch and learn anything new. If you are going to run a business you have to stay abreast of changes all the time. You cannot afford to be lax about learning new skills. Improving yourself and your company is all part of the deal. You are in direct competition with other firms and your skill level and results can have a direct impact on your income.
Running your own business means facing your fears and still moving forward. Business owners have to plan for and except risk. They have to find solutions to problems and go beyond the normal working hours to get things done. Working for yourself is not a light decision. One way to learn about running a business is to start one on the side or weekends. A part time business could give you a glimpse into what is involved without giving up a steady paycheck.
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