Did you know that most small businesses fail within the first 12 months? Well this news is not new; most people starting out these days probably do understand that.
However I suggest also most people actually choose to ignore that fact.
The greatest book I have ever read that clearly spells this out is called “The E Myth” by Michael Gerber.
He points out the majority of people who start businesses are “Technician’s” and usually choose to work “in” the business rather than “on” the business.
This was the case for me when I started and when I read this great advice by Michael I still shudder with embarrassment.
My original business was the importation of hifi equipment and this was and still is a world full of hobby hifi enthusiasts who know very little about the running of a business.
The reality is though, schools give little or no business training and how can any budding entrepreneur be expected to know all about bookkeeping and accounting? Advertising and marketing? How to employ and train staff? Etc.
If you take a good look at it and what business really demands it can be daunting, however if you are anything like me it is exciting and there is no way I would let these things put me off.
In my opinion there are compelling reasons to go and work for you rather than work for a boss. In these days of recession there is no such thing as job security as one just has to take a look at the job agencies and the inquiries they are getting. There is also the television media each night bleating out the bad news at 6pm.
If your desire is to own your own business and control your own destiny then do not let anything or anyone discourage you. Just be aware of the pitfalls and problems that may arise but tackle them with enthusiasm and vigor. Never give up.
One major piece of advice I would like to pass on if you are just starting out:
Learn all you can about every aspect of running a business, get good people to support you and make certain you have a solid and clear business plan based on strategy not tactics.
Anyway, here is my other view about business:
“Passion and people create successful businesses”
“Get out when it stops being fun”







