Be Sure You Like Your Business

Does the business you want to own
require skills and talents you already
possess? If you have the necessary skills,
do you enjoy exercising them? Think about
this for a good long time. The average
small business owner spends more time
with his venture than with his family. This
being so, it makes sense to be at least as
careful about choosing your endeavor
as you are about picking your mate. A
few of us are sufficiently blessed that we
can meet someone on a blind date, settle
down a week later, and have it work out
wonderfully. However, in relationships,
as in business, most of us make better
decisions if we approach them with a little
more care.
Be sure you aren’t so blinded by one
part of a small business that you overlook
all others. For example, suppose you love
music and making musical instruments.
Running your own guitar shop sounds like
it would be great fun. Maybe it would be,
but if you see yourself contentedly making
guitars all day in a cozy little workroom,
you’d better think again. Who is going to
meet customers, keep the books, answer
the phone, and let potential customers
know you are in business? If you hate all
these activities, you either have to work
with someone who can handle them, or do
something else.
Here’s one last thing to think about when
considering how much you like your busi-
ness idea. In fact, it’s a danger that threatens
almost every potential entrepreneur. Precisely
because your business idea is yours, you
have an emotional attachment to it. You
should. Your belief in your idea will help
you wade through all the unavoidable muck
and mire that lies between a good idea
and a profitable business. However, your
ego involvement can also entail a loss of
perspective. I’ve seen people start hopeless
endeavors and lose small fortunes because
they were so enamored with their “brilliant
ideas” that they never examined honestly the
negative factors that doomed their ventures
from the start.

Post a Comment