Are you ready to run your own business?

You are tired of working for someone else, you don't like the way they are running things and you know you could do it better so you decide to start your own business. When we daydream about running our own business we think about the Sam Walton's, Bill Gate's and other super successful entrepreneurs.

What we don't think about when we do that daydreaming is the difficulties we will encounter when we start our business. It will take about three years before your business starts making real money. Are you prepared for this? How will you survive during this period? Do you have another income you can depend on? What about your family, how are they going to deal with it?

Some people also assume that running your business is an easy 9 to 5 job and they are badly mistaken. Your business will be your life; it will be with you 24 hours a day, 7 days a week. Those first 3 years you have to assume you will be working 14+ hours a day or more. You must be ready for the time commitment. If something goes wrong it is you and your business on the line.

While I have made it seem pretty tough, there are some outstanding advantages too. Once your business is doing well, it is a wonderful feeling.

The Homeworking blog has more about what you should think about when deciding to start your own business.