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If you are thinking about starting a business now, here are 10 reasons why you should reconsider.
- 1. The economy sucks right now and it is going to get worse before it gets better.
- 2. If you have a job now, it’s best to keep it as long as you can. Getting a regular paycheck rocks.
- 3. Frankly, running a business is a 24×7 endeavor, it’s just plain hard there is no way around it. Expect stress, less hair, and exhaustion.
- 4. Accountability is tough, the buck stops with you, no more passing the blame to anyone for poor performance.
- 5. People are fickle, they love you and they hate you. Expect to deal with difficult people, horrible customers, threatened and real lawsuits, tough employees, and ultimately brutal people problems.
- 6. It takes at least 1 year of executing the business to figure out how to win and another to actually build it.
- 7. What financing? Better get used to none.
- 8. It’s more fun to just sit on a beach and wait until the economy turns around. You can’t afford failure anyway as most businesses fail.
- 9. It’s lonely and no one else is starting businesses right now.
- 10. The government keeps spending cash and the tax man will need to take his fair share. By the time you sell the company, most of the proceeds will not be going to you.
My take is if you start a company now, you’re either a crazy fool or you’re an entrepreneur. Maybe a little bit of both! The best entrepreneurs are aware of the odds against them, yet they still dream, build a vision and actually start. No matter who you are, I respect those of you who risk it all and jump in with both feet. It’s never easy, but the journey is worth it. Share below why you are thinking about taking the plunge despite the challenges. Or, if you are not starting now, why not?
