There are plenty of risks to starting your own business, and this does put a lot of people off. However, there are those that go for it anyway. In fact, some say that starting your own business will put you in a far better position than working for someone else, particularly during the economic struggle. Of course there are plenty of risks, as the countries state reflects directly on your business, but there are ways to get around it.
t’s no secret that a lot of start-up businesses fail; actually it’s suggested that 95% of them do. Before you start a business you should decide there and then whether you’ll be a part of this extremely high percentage, or if you’ll be one of the few that really makes it. This scarily high number should not put anybody off pursuing their own business. Success comes from hard work and being in the right place at the right time. The most successful people will make insane choices and come out on top.
Understandably if you have a family, or just don’t want to take the chance of losing everything you currently have, it may be better to stick to the day job. However, if you are one of these people, it’s clear you do not truly believe in your business idea. This is what it comes down to, if you don’t believe and feel determination, your potential customers won’t either. It’s a two way street.
Let’s take a look at the other risks in life. As a matter of fact, your 9 to 5 job is also very risky. As previously mentioned, the economic situation in Britain has caused thousands of companies to let go of staff. What would you do if this happened? Starting up your business and running your business is solely down to you, your future is entirely in your hands. See, both have risks! You’re just led into a false sense of security of what is the safe option and what isn’t. If you want to start a business, you should go ahead and do it, there’s no time like the present!
There’s plenty of help you can receive when starting up a business. No matter what industry you want to go into, there are advice centres and accountants that will assist you with your hotel business loan, restaurant loan or any other additional credit you may need.
You’ll be able to talk to other people in a similar position and communicate with those that faced the same fear you have, but still went on and succeeded anyway.
It’s important not to analyse the amount of failed businesses. It’s just a statistic and doesn’t give you the details of how it failed, or if they moved on to do something else, or if they changed their idea. One of the most important things to remember is that the majority of that supposed 95% will not regret a thing. It’s best to jump into the deep end, leave behind everything that keeps you ‘safe’ and go for the dream. It’s best to have tried and failed, than not tried at all.
Remember, failure is a word that can bring hope. You will definitely have learnt something through your experience of setting up a new business, and you’ll be able to apply everything you now know into a new venture.
Just go for it!
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