VenturaCountyStar.com:
In choosing to launch out on your own, you are in for quite a ride. The path of independence is at once exciting and daunting, challenging and risky. Be very clear as to whether independence is really more important to you than security.
Being an entrepreneur requires a very different mind-set than working for someone else. It entails unrelenting persistence and long hours. You need confidence, drive, integrity, lots of energy, a solid ego and you must be able to quickly solve problems. Without a regular paycheck you have to live comfortably with uncertainty, not knowing from day to day what your cash flow will be. The overhead will be all yours with responsibility for decisions about supplies, staffing, furnishings, décor etc, as well as benefits for yourself and your employees.
Cautious planning and awareness of the pitfalls can greatly lessen your risk of failure. Know your weak spots and either find ways to educate yourself or consult others who can advise or mentor you. The most prevalent reasons for 80% of independent businesses failing in the 1st 5 years are a lack of the skills and knowledge needed to choose, start, finance, run and grow a business, and an inappropriate location. Another mistake is underestimating the competition. Read some more advices from Norma Zuber.
Subscribe 
