Cons of starting your own business
...u may take for granted at your current job - from someone setting up your computer to arranging travel to seeing that your social security taxes are filed on time - now become your exclusive, time-consuming responsibility. · When you have a great idea, you will have less resources to draw on in making it happen - and more external obstacles to prevent it from happening - than if you were able to draw on the resources of an established business. · If you currently have a high-status job, donīt expect people to be as impressed with your position as the owner of a small, unproven business. If the psychic income of impressing people is important to you, prepare yourself to live without it until after your business becomes a hot success Cons of Starting a Business: · You will have to work like a dog. · You have to be involved in all aspects of your business - right down to whether the toilets are clean - even if you can best leverage your skills by focusing on your area of expertise. · Starting out, you probably will have less income than you are used to. Long term, income can be unpredictable and unreliable. · You may have to take a big financial risk - investing your savings or incurring personal debt to get the business launched. · Thereīs absolutely, positively no guarantee that you will succeed. · Success depends on your becoming competent in a wide range of disciplines, ranging from accounting to marketing to customer service. · Support services yo...