Starting a Business Reality Check
Many owners start their businesses without realising the reality or drawbacks of
running a business, so their expectations are unfulfilled.
Reality strikes home when you launch your
business.Suddenly you ask yourself, Where's my next month's paycheque
coming from? |
Your expectations or desires need to be tempered by the drawbacks. Be
realistic!
| Expectations or
desire |
Drawback: reality
check |
| Being your own boss |
Underestimating the time commitment which draws away
from your personal time and lifestyle. The boss does not have it easy! Family time is lost. It’s
HARD work. |
| Financial independence |
Forgetting that it is a Risk Business – you can be very
successful, but you can go broke too. |
| Breaking away from doing big company
paperwork |
All businesses, no matter what their size, have forms to
be completed and systems to be worked. |
| Fed up with corporate inertia and wanting
action |
All businesses have systems to be worked and it takes
time to build up success. You need patience. |
| Wanting creative freedom |
Is there a market for your ‘thing’? |
|
Not getting on with people – want to be on your
own
|
If you can’t get on with people, how are you going to
deal with your customers?
|
(Modified and extended from ‘Small Business: Preventing
Failure – Promoting Success’, Lewis Paul, Small
Business Development Centre, The Wichita State University)
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