Opening your own business is right now the preferred selection for a lot of people in the current financial climate as worthwhile jobs become more difficult to attain, but before you draw your life savings and invest it in your own crayfish farming business. What do you need to be aware of?
Having your own business means you are no longer the individual who takes the commands (or shouldn't be); by all means be a first-rate boss pay attention to to your workers (if you have any), take note of their recommendations and reflect upon the information they give to you. Now it's your duty as the boss to collate this knowledge and put policy into action..."failing to plan is planning to fail."
Be sensible when operating your own business - for certain you like to make money, but not at all costs. What are the costs of business compared with just being a member of staff? You have more accountability to yourself, your household and staff if you have any - they are all dependent on you for their economic security. Gulp! Running your own business frequently means functioning longer hours and you may possibly not make any money from working those longer hours where previously you may have got paid per hour/day. A guaranteed salary!
However knowing that you can easily pay your mortgage at the end of the day is great.
Were you one of those in education? Who's class report said..."Nothing good will come out of this person!" What a sensation that would be to go back into your old school and say to your old teacher - "look I am operating my own business now - how's the lessons going these years?"
We live in a big world; their are thousands of crayfish farming businesses - but they aren't all the same; as a new businessman/woman it is your mission to run your business the best way you see fit by your experiences you've acquired in life so far.
Not many people begin their own business - most people don't have the knowledge. The question is do you have it? Are you motivated to succeed in business as well as in life?