Business Ownership – Truth, Lies, and Everything Else

Business Ownership – Truth, Lies, and Everything Else image pulling hair out 300x189Business ownership pulling out your hair?

Business Ownership – Pulling out your hair?

Business Ownership has it’s pro’s and con’s, that is for sure. I tend to jump into things and not really know the truth about what it really entails. I get it and it’s like “what is this? this is not at all as I imagined it would be”. YOU should know. YOU should be prepared. YOU NEED to know what you are in for.

Business Ownership – Truth

Business Ownership is touted all over the internet as the way to go. ”Own your own business,” they say. ”Take hold of your future”, “Stop paying the man and start paying yourself”. So what is the truth?

The bad stuff of Business Ownership…

  1. You will work more hours than ever before. Even if you work a lot now. You will work more. Business Ownership requires you work when it is needed. That means anytime and all the time. Kiss your good night sleep goodbye.
  2. It will not be easy. You will probably be low on money. Prepare yourself for the struggle. You need to make sure you have a powerful family unit. You MUST have full support and they need to know what to expect.
  3. Forget about a regular paycheck. You get paid when all your expenses are paid first. When you do get paid, it won’t necessarily be the same every (hopefully it will be increasing).

The good stuff of Business Ownership…

  1. YOU make all the decisions. No one will tell you what to do. You have your fate in your own hands.
  2. YOU get the accolades for what you have built. No one else can claim your success or your profits.

Here are a couple of references for you.

Facts about business ownership

Ugly Truth about Small Business: 50 (Never-Saw-It-Coming) Things That Can Go Wrong…and What You Can Do about It

Business Ownership – Lies

There are a lot of myths rolling around out there.

  1. Business Ownership is the answer to all your problems. That is a lie. It may be the answer to a lot of your problems. but it also creates a whole new set of problems.
  2. It will only cost me… well I can tell you right now that it is more.
  3. I will have more time for my family and friends. Ummm… no, you won’t. Not if you work your business to make it successful. And definitely not at first.
  4. I can just focus on what I love. This couldn’t be farther from the truth. You will spend much of your time doing things you never thought you would be doing. Payroll, taxes, marketing, etc.

Here are a couple of resources for you.

The E-Myth : Why Most Small Businesses Don’t Work and What to Do About It

Business Ownership – Everything else

There is nothing else.

Here is a great resource for the “day in the life of a Business Ownership”

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