- Business and Employment»
- Small Businesses & Entrepreneurs
Business Success- The Realities of Running Your Own Business
Being in Your Own Business vs Working for Someone
A Business Person Needs to Wear Many Hats
It Takes Dedication and Hard Work to Run Your Own Business
You Can Gain Great Satisfaction Being in Your Own Business
You need to know a lot to run a business. You need to know about sales, pricing, accounting, competition, customers, billing, the industry, marketing, technology, products, research, dealing with people, cash flow and many other aspects of running a business. You need to be sharp, aware and always thinking of what you will need to do next.
When you are in your own business, you can know great satisfaction and gratification from your work. When you are in your own business, you pick who you want to work for you. When you are in your own business, you can have something that you can bring your children into. When you run your own business, you make profits, and also build up the value of your business, which gives you something to sell in the future.
Things You Need to Know Before You Go Into Your Own Business
Being in your own business and making it grow takes a lot of hard work and energy with no guarantees. But no one can fire you, and if you are doing what you love, you will feel more fulfilled from how you are spending your time.
Many people dream of being in their own business. You can do it, but you need to know the realities, the hardships, and the the tremendous effort it takes to make your company successful. If you go into your business, knowing the good and bad, being away of the foibles you may face, and see the big picture of what it takes, you are already on your way to succeeding.
Should I Be in My Own Business?
Having a Business Strategy is Very Necessary
So what does it take to succeed in business? Most people have a great idea, and they think that is enough. Not matter what your idea is, or even if you are reinventing the wheel, behind the idea you need to answer many questions.
Let’s start with who, what, why, when, where, which, and how.
- Who are your customers?
- What are your strengths and weaknesses?
- Why will people buy from you?
- When will you start to see a profit?
- Where will your business be located?
- Which products are you offering for sale?
- How will you get customers?
Be Focused, Disciplined, Determined and Devoted
Having a business, like having a baby, needs lots of care, and attention. There is a lot you need to know to run a business, and whatever you are thinking about it, it has more complications than you may realize.
Know your own limitations. You won’t be able to do everything well. Concentrate on what your passions are, what your knowledge is, and what you can do. Know what it will cost to get the help for the things you can’t do, or won’t have time to do.
Being in your own business means you need to know where you want to take your company. It means being focused, disciplined, determined, devoted, and having a mindset towards the vision you see. Being in your own business means being confident in what you know, what you can do, and what you see the company will do. The world is full of naysayers and negative people who will tell you what you can’t do. You need to be independent and positive enough to know you are headed in the right path.
Look at All Different Scenarios
Being in your own business takes a lot more money than you may realize. When you do your calculations, it is best to look at the worst case scenarios. If it happens, you will be prepared. If it doesn’t happen, you will have more profits. Either way, your business will survive, because you set things up in preparation for all things possible.
Believe in what you know, and look at what you don’t know, so that you can learn. Be realistic about your expectations. Dreaming is good, but if at the end of the day, you want to feel like you accomplished something and avoiding disheartening disappointments as best you can.
Achieve Your Dreams and Know Success!
You can know great success from your efforts of being in your own business. You can see your business grow, see your bank account grow, and see yourself achieving greater things than just working for someone else. But you must look at the successes and failures of others who have done similar things that you are doing.
Do it! Go for your dream! You can achieve greatness! Be realistic, Be strong, Believe you can and you will. Fire up your motivation and reach for the stars. The world awaits all the wonderous things you can do.
Find Out if You Have the Makings of An Entrepreneur in this Hub by drbj
- Are You an Entrepreneur
I was asked a question by a reader of my article, Fable of Felix the Frog. The hub ends with the conclusion that not every premise or Idea (or frog) will fly. (Read the article if my mention of the frog...