Maybe you have a skill that you love, but have just never been able to put to work as far as earning some money for yourself. In this article, we are going to take a look at the when and the why for starting your own business.
If you feel like the following details describe you fairly well, then maybe it’s time that you tried out a business of your own.
Why Would You Want To Start Your Own Business?
Well to start of this section, let’s say that you definitely don’t want to start your own small business for reasons of security.
All business ventures entail a certain amount of risk, and there is no guarantee that your idea will pan out or even that you have the follow through necessary to make it work.
That being said, where can you really find security as far as income these days? Job loyalty used to be a big factor in the work force, back in our parents’ and grandparents’ days, but the slew of layoffs over the past decade have proved one sure thing: companies do not have a lot of loyalty to their own employees.
It’s the kind of realization that has prompted thousands to start businesses of their own, at the grass roots level.
If you can honestly answer that you want to start a small business because you have skills that you want to put into motion for a market base that has demonstrated a need for them, then you are probably off to a solid start as far as getting your business off the ground.
You need to find your satisfaction in doing something that you will really enjoy, and not necessarily in the dollar figures.
Now, don’t lose your sense of optimism because there is money to be had; we’re just saying that if you have an eye on a ten bedroom house with a heated indoor pool you might want to check out law or medical school.
When Should You Start Your Own Business?
After you get the why sorted out in your head, it’s time to decide on the when. When is the best time for you to start your small business? The answers will all be different depending on what stage you are at in life. Here are a couple of ideas:
- Do
take the chance on starting your own small business if you have the support of your spouse or partner.
It’s always easier to take that risk when one of you has a steady income already!
- Do
start your own small business if you are young and not tied down. Now is the time when you can recover from any mistakes you might make.
Odds are, there are even start up loans geared particularly towards people like you!
- Don’t
start up a small business if you are in debt.
If you are in the hole financially, you need to learn good money skills and pay that debt off before you take a risk on yourself.
Trust us- it will lead to nothing but trouble, so get that financial house in order first.
Answering the when and why questions about starting up a small business will mean that you have a solid base in place and your chances for success are much greater.
It’s a good foundation to start with!
