Being your own boss is a talent that not all of us have. Many people who are not afraid of hard work are leery of shouldering the whole responsibility of earning a living, perhaps for their whole family. For others, becoming an entrepreneur is fulfilling in a way that a job working for others can never be and worth any amount of risk and effort.
The process can be easy. All that is usually required to 'set up shop' is a business license. The internet has opened up a whole new arena of enterprise. If you don't want a virtual business, you can run a booth at a flea market, cut and color hair in your kitchen, or open a booth in an antique mall. You can sell the produce from your garden on the side of the road or at a farmer's market. This is running your own business.
There are fields of endeavor that require special certification or licensing. For a real estate brokerage, an accounting firm, or an electrical contracting business, you need to meet local and state requirements to legally operate. You can look up regulations on the internet or visit the courthouse to learn what is necessary.
On a larger scale, you will need working capital for things like insurance, inventory, employee wages, advertising, and a million other things. To open a grocery, for example, you would require premises, shelving, cash registers, refrigerator and freezer units, special lighting, and easily cleaned floors and fixtures that comply with health codes. All this and more needs to be in order before you open for business.
Operating capital in large amounts might mean a bank loan, in which case you will need security to qualify. You can use your personal savings and credit - which is risky. Borrowing from friends and family involves others in risk. Partners might be able to make a contribution; partnerships are notoriously complicated but often profitable for all parties.
If this sounds stressful, it is. However, some people thrive on the rush of starting up and building a business from scratch. This experience might just teach you more than you will ever learn at college. Furthermore, if you truly have a dream, it would be too bad to never try to realize it. Even a failure is better than a blank slate.
It is a fact that those who do make it can make it big. More people get to high income levels through small business ownership than any other way. There is a whole lot of information about succeeding as your own boss that makes fascinating reading and can help you live your dream.
Anyone with a great idea, a product that fills a gap in the market, or a service that is in constant demand can realistically contemplate becoming an entrepreneur. It could be your ticket to fortune and fame. Even if it is just a living, it can mean satisfaction and a lifetime of loving what you do.
The process can be easy. All that is usually required to 'set up shop' is a business license. The internet has opened up a whole new arena of enterprise. If you don't want a virtual business, you can run a booth at a flea market, cut and color hair in your kitchen, or open a booth in an antique mall. You can sell the produce from your garden on the side of the road or at a farmer's market. This is running your own business.
There are fields of endeavor that require special certification or licensing. For a real estate brokerage, an accounting firm, or an electrical contracting business, you need to meet local and state requirements to legally operate. You can look up regulations on the internet or visit the courthouse to learn what is necessary.
On a larger scale, you will need working capital for things like insurance, inventory, employee wages, advertising, and a million other things. To open a grocery, for example, you would require premises, shelving, cash registers, refrigerator and freezer units, special lighting, and easily cleaned floors and fixtures that comply with health codes. All this and more needs to be in order before you open for business.
Operating capital in large amounts might mean a bank loan, in which case you will need security to qualify. You can use your personal savings and credit - which is risky. Borrowing from friends and family involves others in risk. Partners might be able to make a contribution; partnerships are notoriously complicated but often profitable for all parties.
If this sounds stressful, it is. However, some people thrive on the rush of starting up and building a business from scratch. This experience might just teach you more than you will ever learn at college. Furthermore, if you truly have a dream, it would be too bad to never try to realize it. Even a failure is better than a blank slate.
It is a fact that those who do make it can make it big. More people get to high income levels through small business ownership than any other way. There is a whole lot of information about succeeding as your own boss that makes fascinating reading and can help you live your dream.
Anyone with a great idea, a product that fills a gap in the market, or a service that is in constant demand can realistically contemplate becoming an entrepreneur. It could be your ticket to fortune and fame. Even if it is just a living, it can mean satisfaction and a lifetime of loving what you do.
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