ST. CROIX INSIGHTS

What’s the Real Fear of Starting a Business?

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

starting a business

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’re unemployable at this point. Whether driven by a compelling idea, a deep passion, or a quest for fulfillment, you recognize that becoming a business owner is the path to achieving these aspirations. But yet, one significant hurdle prevents most people from starting their own business, and it’s quite simple: it’s the lack of a paycheck.

It’s hard for many to start their own business because of the 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, the statistics reveal a challenging reality: 50% 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, challenges persist, but experience, on-the-job training, stress management skills, and an evolving perspective on life and business have made these challenges easier to overcome.

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, allows you to make a living doing what you love.

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Ask yourself- can my portfolio support my lifestyle in my retirement? 

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