Many of us, whether we work for ourselves or someone else, want to make what we're worth because well... we deserve it. After all, what's the point of spending a 1/4 to a 1/3 of our lives learning if we can't take what we learn and pay back all the debt we accrued while learning?
So for many of us... after years of school and years of working for someone else, we come up with the bright idea to start our own business. But what is a business exactly and how does that differ than just working for yourself? Both jobs have clients (hopefully) and both jobs have long hours, so why the change?
The difference for me is the light at the end of the tunnel. One has the promise of one, while the other is... not so promising.
A business is like a child. You conceive it, you nurture it and after watching it make a few mistakes and stumble, you hope that one day it will be able to self sustain and reward you for your efforts. A good business will stay afloat and make you money while you're on vacation and a bad one will cause you worries while you're gone. Will lil Timmy meet up with the wrong crowd and destroy your home? Quite possibly. However, if you're lucky and have the right leadership, you may even see your business married off to some other successful businesses and throw a giant party to celebrate. Ahh... such is the life of parenting gone right.
Self employment on the other hand is a bit different. For me, self employment is the dream of technicians when they are tired of the sh*t from their former boss. While you may be successful performing a particular task or trade to warrant self employment, there rarely is an exit strategy that will allow you to throw that giant party at the end. Unless you have good business acumen, self employment may generally lead to long hours, anxiety, nausea, vomiting, stress, and irregular bowel movements. Sounds like one of those drug commercials don't it? It feels like it too.
So to sum up. Have a good business idea? Great! Have a goal to be self employed? Think twice. Remember:
Self employment - A job or business that wouldn't exist or make money without you. (Think of the missed vacations!)
A Business - A job that could exist and be profitable without you (but wayyyy down the road). Though, an exit strategy that doesn't equal your death exists!
Enterprise - A space ship in the future.
An Empire - Something that requires a lot of technology and possibly even the force to be on your side.
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2 comments:
Nice post. I want to run my own business soon, so this is helpful. Instead of starting a business from scratch though, I'm interested in buying a business. I know it'll be hard and challenging, but I'm up for it. Any suggestions? Advice? Thanks.
Michelle -- There are a lot of resources you can use online. One of which is BizTrader.com. It's an online global marketplace where you can buy a business, or even sell your business. You can also use it to find a lender or broker. It's a good place to find a small business on the Internet.
I also recommend checking out small business groups in your area. They might be able to help you.
Good luck!
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