Owning a business can be great, as long as you go in with your eyes open.
Here are common misconceptions:
- I’ll be my own boss. Your customers become your boss, and can hire and fire you like any corporate superior.
- I’ll have more free time. You’ll likely work more hours until your business is ready to thrive without you.
- It’s just me…I don’t need a business plan. Every business needs one. Without it, you’ll just drift like a leaf in the wind.
- I can do it all myself. This is the quickest route to burnout and business implosion. Build a team.
- If I do good work, I’ll be successful. True only if people know about it! Marketing will determine whether your business sinks or swims.
- I’ll make more money. This is not a given. You may gross more, but you’ve also got to cover more expenses and often put in a lot more time.
- I’ll have more control over things. Perhaps. But between client needs and economic trends, you may not have as much control as you thought.
- Bigger is always better. An efficient microbusiness may be all you need to have the lifestyle you want.
- I should work doing what I love. Yes, love your work. But just because you love making jewelry doesn’t mean that this is the right business for you.
- It’s too hard. Owning a business takes dedication, persistence and lots of work. But with the right support and planning, it can be rewarding.