Hey, I hope it works out for you! Don't take the negative comments to heart. Yes, business is tough, but you don't have to fail in order to learn how to be successful. Just know that you will almost certainly have rough spots to work out, which you will learn a lot from as far as perseverance is concerned. In this economy it is not easy to start over after failing, so don't give up too easily. Make sure you realize that it will take a lot of hard work on your part to make your business succeed. It usually takes a long time to make a profit when you're starting a new business, so don't expect too much too fast. GL!
This is what most people will tell you when it comes to business. This is also why most people fail. If you're sticking too a business for too long that is obviously not making you money and in fact could be loosing you money then you need to hit the eject button and move onto something else. Perseverance is important, but looking at your business logically and making a proper decision to quit is also important. This is why I don't believe that creation a business based around what you love doing is the proper way to start a business. Getting too attached to your business will lead to ultimate failure. Your goal in life should be to become financially independent, so that you can then do what you love to do without having to
worry about money at all.
It is easy to fail as long as you make it easy to fail. Sure, you wont have as good of a credit if you fail and can't pay your loan if you don't have one, but the best advice I can give you is to start small with your own funds so you don't even have to worry about credit at all. Failing is as easy as going through the bankruptcy process then focusing on the next thing (assuming you even have to go bankrupt, if your business attempt never took off and you used some of your own money.) We luckly don't have debtors prisons in this country anymore. Think of business as planting seeds. You start with a small set of seeds and you plant a few. Some crops die, but others may prosper as you try different methods of planting. You don't plant all your seeds at once the same way, since you will probably fail at growing anything while hampering your ability to plant more. Once you get a few good crops in, instead of eating up all your crop you save your seeds and start planting more. Eventually you'll plant so many you cannot manage the crop yourself, so you either hire someone else to tend to plants or be happy with the plants you have.
This is basically how businesses work, and how you should look at business. If you do what others suggest and stick to just your one passion you'll be stuck watering, fertilizing, and taking care of that one seed that rotted a long time ago. Being an entrepreneur isn't about doing what you are passionate about, its about being passionate about being an entrepreneur and building things. If you enjoy the process more than anything, then it doesn't matter what your business is about you will enjoy it. I just invest some of my money into a bulk book lot I bought on Craigslist and I am listing them on amazon to try and turn profit. Its so far somewhat successful, and with some more patience I'll see what happens. Oh, and rarely read books (I have a very selective library).
Community Forum
Topic: I'm opening up my own store. (Read 4393 times)
November 13, 2009, 03:13:59 pm
