ST. CROIX INSIGHTS
The real fear of starting a business?
BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC
For many of you, you made the leap of starting your own business and would never go back to work for someone else. Many might say you might be unemployable at this point. Others of you have an idea, passion, or seek to be fulfilled in another way, and you know becoming a business owners would do that. But yet, one major item holds most people from starting their own business and it simple…It’s the lack of a paycheck.
It’s hard for many to start their own business because of the that need, or desire, for a reliable paycheck. That’s the biggest roadblock for most people who want to be entrepreneur – money. Even with the best business plans and hard work, 50 percent of businesses don’t make it five years. The odds are not in your favor.
I’ve been self-employed for 18 years and it wasn’t always an easy road.
Even today, it’s not easy, but the challenges can be easier to overcome. Maybe that’s because of experience, on the job training, my ability to handle stress or that my perspective on life and business have evolved.
If starting a business was easy, everyone one would do it. However, it requires a level of personal and professional commitment like nothing else. Sacrifices will happen including time with your family, friends and your money. If you are looking to start a business, let’s talk on creating a plan that allows you to fulfill your dreams, passions and hopefully make a living at.
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Ask yourself- can my portfolio support my lifestyle in my retirement?