Can I start a business? Almost every entrepreneur asks this question at least once in their life. Many of us ask it multiple times even after starting other businesses.
Doing a startup business is a thrilling adventure. It often does not require specific skills. That’s why many times, entrepreneurs have no college education, some didn’t even graduate from high school.
In my case, I barely graduated from high school, yet I’ve been starting businesses ever since I was eleven years old. Some fail, some make it. There’s no specific equation, there’s too many variables.
Other businesses require specific skill sets such as doctors and financial professionals. In this case, you’ll need to study up on your desired business and determine if any special schooling and licensing will be required.
Most businesses take several years, as many as five years or more to hit the payoff. When you get there, it can be significant, but you also risk no pay off or even sustaining debt when you start a business Are you willing to take that chance?
If you have never started a business before, consider finding a low startup cost, sweat equity type business such as online marketing or affiliate marketing type businesses. They aren’t as risky as say a business that requires significant inventory.
Some people will work for someone else in the field of interest before deciding to start their own business.
A friend of mine built a shop, purchased all his tools and had the entire operation paid for, while working for someone else before he finally broke off and operates his own shop.
His business is extremely profitable because he’s not paying interest on equipment. You would be surprised how much a difference this makes in his bottom line.
When you start a business, keep in mind, there are some very smart and highly educated people who fail at businesses that uneducated people easily succeed at.
Tenacity and passion are critical to success. If you don’t have both, your chances of success are greatly diminished.
Good luck in your pursuit of happiness in your business, and yes, you can start a business if you want to do it.