| Starting and running your own business is one of the | | | | shoulders. You will direct all the activities of your |
| most exciting and potentially rewarding activities | | | | business for better or for worse. |
| anyone can undertake. The possible rewards are | | | | Creative Freedom: you are at total liberty to express |
| boundless as is the opportunity for fulfilling personal | | | | your talents and ideas without seeking permission, |
| ambitions. However, there are certain questions you | | | | having them approved by superiors or going through |
| should ask yourself, before you decide to take the | | | | channels. |
| plunge and invest your time and money in trying to | | | | Profits: the more successful your business becomes, |
| start a new business venture. | | | | the more money you will make, whereas, in general, an |
| You will also need to make plans, because that old | | | | employee's salary is dependent on corporate or even |
| saying: 'Those who fail to plan, plan to fail' is true, | | | | national agreements, policy and regulations. Yours will |
| especially in business. For without plans, a business is | | | | be directly related to the performance of your |
| subject to the random outcomes of chance rather | | | | business. |
| than sound judgment. you can even get to the stage | | | | Job Security: if your business is viable, no one can |
| where instead of running the business, the business | | | | sack you, lay you off, make you redundant or force |
| runs you. In order to avoid that sad state of affairs, | | | | you to retire. |
| you need to make sound plans before you start; | | | | Satisfaction: most people derive a great deal of |
| decide which skills your business will need and | | | | satisfaction from knowing that they have built a |
| accurately assess whether you possess those skills. | | | | successful business from nothing. |
| The first question you should be asking yourself is, | | | | The most common disadvantages of being the boss |
| 'What am I going to get out of it?'. After all, you are | | | | cited are: |
| giving up most of your rights as an employee. Rights | | | | Risk to Capital: if you business fails, you could lose |
| such as job tenure, regular wages, paid holidays, sick | | | | everything you put in and more. |
| leave, insurance and the right to forget your job when | | | | Long Hours: your hours will not be '9 to 5', especially in |
| you leave it at the end of the day. In exchange you | | | | the beginning, when they are more likely to be '8 till late'. |
| get the right to invest lots of time, energy and money. | | | | Income Variation: you may not receive the same |
| So, you have every right to know or at least to ask | | | | amount of wages every week, depending on the |
| yourself, what you will get in return. | | | | takings. |
| The rate that the number of new business being | | | | Responsibility: the buck stops with you and you can't |
| opened every year rises most years, although perhaps | | | | blame anyone else, if things go wrong. |
| it won't this year due to the banks' reluctance to lend | | | | Pressure: the pressure is on you the whole time to |
| us our money. However, usually the rate does rise, so | | | | keep your customers happy and pay your suppliers |
| there must be a positive perception among the | | | | and employees on time. |
| population that owning one's own business is an | | | | Regulations: you are responsible for complying with |
| advantage. The most common advantages cited are: | | | | government and union regulations and ignorance of |
| Control: as the boss, the authority and indeed the | | | | those regulations is never taken as an excuse. |
| responsibility to make decisions rests squarely on your | | | | |