If you ask anyone around if they'd like to be their own boss one day, you'll probably get met with a resounding "yes". But if that's the case, then why is it that less than a quarter of our population have started their own business? There's obvious reasons to this of course, and most of these reasons could be attributed to a lack of readily available business development education or even just a lack of awareness as to how to attain said education. The question still remains however. If someone were to have access to all of this information would they still be fit to start their own business in the first place. Knowledge without action is just a good story after all.
So how does someone get a grip on whether or not they’d be a good business owner, or possibly even more importantly. Would they enjoy it? Starting and running your own business is no small feat, and in its formative years you accept 100% of the risk that comes with starting a business and must fully be prepared to shoulder the burden of this risk with basically no safety net or assurances that things will eventually work out in your favor. It’s this exact stipulation that serves as the antithesis to the safety and security that is generally seen as coming hand in hand with working a 9-5 day job. Whereas new business owners could very well lose their business in a matter of months, and thereby losing their ability to provide for themselves with no real course of action to mitigate these risks in the early stages of their business’ development. A worker at a 9-5 job tends to have several benefits that come with an established business model. These enticing pieces of security come in the form of things such as healthcare, life insurance, and generally speaking, a retirement account of some sort with matching contributions from the employer.
So you have to wonder. What kind of person could and would willingly take on all of this risk in lieu of the warm safety that comes with a steady job and stable income? It comes down to what the individual values more in their lifestyle. I don’t mean having a taste for the finer things in life or being happy just sitting on the front porch picking your guitar while you watch the sunset. I’m referring to the level of value or interest associated with the two opposite paths in life. The first being a higher level of value for things such as security or routine. People who value the fact that they know that there will be food in the fridge when they come home and a hot shower always ready for them in the morning will inevitably be drawn to the comforts and stability that comes with working a 9-5 job. It’s a smart move after all and objectively speaking, it’s much more responsible for almost anyone in a provider position to seek out a stable way to care for their loved ones and shoulder the burden of being a provider. Although most people who have children or families to care for see themselves as being a provider or protector tend to seek out the highest level of correlation between productivity and stability, that is not to say that a person who feels aversion to this lifestyle can’t be a provider or protector for their loved ones.
Which brings us to the opposite end of the value spectrum. There are those like myself and many of my peers who value fluidity more than stability. But there needs to be an understanding that with fluidity comes risk, a lack of stability, a lack of routine, and no guarantees in stable income. At least not in the early stages of a business. Honestly, I’m quite certain that all of us entrepreneurs who have risked it all in pursuit of our ambitions have a few screws loose. I also believe that we’re a necessity for more than just progressions in technology or advancements in our modern society. In many cases a would-be entrepreneur who does in fact value the fluidity more than the stability of a steady job still walks the path of a 9-5er. Being drawn to something should not be enough for you to choose to chase it. There are numerous people who wish to own their own business or be their own boss who simply make the practical choice not to. None of us can have it all. That’s just a fact of life. In many cases a person has already started a family or dedicated a significant portion of their lifespan towards a career. So owning their own business, no matter how enticing that may be for them, would still be a poor decision for them to make as it would put their entire household at risk.
Now, let's say that you still find that the value in fluidity suits you more than stability. Then you’re faced with a tough decision. Do you pursue your ambitions and start your own business now, or should you hold off and see what your current path in life has in store for you? If you do decide that starting and running your own business is something that’s at least worth taking a serious shot at, then do all that you can to invest in yourself. Find a business coach who has had prior experience that can be passed down to you. Learn about the ins and outs of what goes into starting your own business. Learn business strategies, and best practices before pulling the trigger and filing your own LLC or opening up shop as a sole proprietor. Taking the time to front-load your efforts in emboldening yourself as a person will help make the initial stages of starting your own business have a higher chance at succeeding. After all, most new small businesses don’t survive their first two years. This is due mostly to the fact that a safety net takes time to build, and mistakes made in the early stages can often dig a hole that is just too deep for a new business owner to force their way out of.
If you’re still someone who thinks they want to take a crack at this, then do yourself a favor. Enroll in some business development courses offered by Budd Consolidated. Even better yet, take the time to work with us and get some 1-on-1 business development coaching. Working with us to help better prepare you for the trials to come will inevitably increase your chances for success. After all, our mission is to make our living by helping you make yours. Click the button below to check out our website, or click one of the links above to be taken directly to our service and online courses page.
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