Comments on: 7 Signs You’re Not Ready For Business Ownership

By: setai

setai — Wed, 09 Dec 2009 20:35:26 +0000

I agree with the 7 signs, but it is also important to remember that failing is part of the process. The most successful business owners have tried and failed many times before they succeed. I do recommend being independent.

By: Bill Greenberg - Good Computer Guy

Bill Greenberg - Good Computer Guy — Fri, 01 May 2009 20:56:59 +0000

I don’t know that I completely agree with everything here. I’ve been in business for myself for, uh, oh wow – 11 years now. I’m still a 1-man shop, but I don’t want to play babysitter again. I don’t spend 16 hour days or “work” weekends, but it is definitely a “lifestyle” business, and I’m hardly EVER away from some form of electronic communication. Checking email is the first thing I do every morning and the last thing I do before bed every night, 365 days/year. And during commercials. But it doesn’t feel like it a big burden – it’s just what I do. And if I want to take an afternoon off to ride my motorcycle to the airport to fly my airplane, well, my clients can leave me a message, which is the first thing I’m going to check when I’m back on the ground. I answer to no one but my clients and myself (and my wife, but that’s a whole ‘nother story.) I couldn’t possibly imagine ever going back to work for someone else and giving up the freedoms I have now. And if I actually had long term focus (#2 above) I would probably be able to buy a bigger airplane. Eventually I probably will…

By: Gina Madsen

Gina Madsen — Thu, 30 Apr 2009 22:05:15 +0000

I would add “a willingness to admit you don’t know it all.” Many small business owners have a do-it-yourself mentality, which provides the self-confidence needed to take the plunge, but can also preclude the SBO from asking for help when needed. Talk to a CPA before you incorporate to determine the correct tax structure. Talk to a lawyer before you open your doors or get your first customer to make sure your business is properly formed and your contracts are properly drafted. It’s much cheaper to do it right the first time than try to unravel a mistake months or years down the road.

By: 7 Signs You’re Not Ready For Business Ownership: smallbizbee.com - Twitoaster

Sat, 18 Apr 2009 22:09:23 +0000

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By: Setai miami

Setai miami — Wed, 08 Apr 2009 10:47:11 +0000

I don’t need signs, I know I’m not ready for it. I’d rather make a litte less money but not have to worry about everything instead of obsessing about the way the company is going 24/7.

By: Susan Ward

Susan Ward — Tue, 07 Apr 2009 18:41:42 +0000

I think everyone who’s thinking of starting a small business but has never been self-employed before should read this article. Like John, I would add something about how important it is to be financially prepared; new entrepreneurs need to have some other way to pay their bills for at least six months (and maybe even longer) before their new business starts bringing in income.

By: Signs You Might Not Be Ready for Entrepreneurship | KnowThenGrow

Signs You Might Not Be Ready for Entrepreneurship | KnowThenGrow — Tue, 07 Apr 2009 03:19:05 +0000

[...] from SmallBizBee. Share and [...]

By: Are You Really Ready For Your Own Business? | SMALL BUSINESS CEO

Are You Really Ready For Your Own Business? | SMALL BUSINESS CEO — Mon, 06 Apr 2009 11:46:50 +0000

[...] there is so much more involved than I had ever imagined. If only Small Biz Bee’s article 7 Signs You’re Not Ready For Business Ownership had been published back [...]

By: John Lampard

John Lampard — Sun, 05 Apr 2009 12:28:37 +0000

Great post. Reluctance to make do on very little income (especially in the early days) would be another sign of not being ready to start a business.

By: Gerald Weber

Gerald Weber — Sat, 04 Apr 2009 05:11:24 +0000

I have to say the make sure you significant other is supportive strikes a cord with me. When I first started my business I was with a woman who was negative and not supportive. Needless to say she is no longer part of my life and I am still in business 4 years later.