These are questions we all ask ourselves when we're contemplating opening a business. They are very good questions, while entrepreneurship is not for everyone, it is definitely desired by many individuals to obtain financial freedom.
Most individuals underestimate the amount of time, pressure and responsibility that comes along with business ownership. If you can overcome the many obstacles that you will face, entrepreneurship can also be a very rewarding accomplishment.
Here's something to remember, just because you're great at baking cakes, doesn't mean you will be great at running a cake business.
Running a business is hard work; you have to consider the other factors that you may know nothing about. For example, setting up the business, financials, legal, managing employees, payroll, managing vendors, and a whole lot more!
The great news is that everyone starts out as a beginner. The key is to make sure you are prepared. Smart business owners surround themselves with other smart people that can help inspire them. Join a business group, hire a consultant to help get you off the ground, hire experienced employees, etc. Whatever you decide to do, make sure you're absorbing all the knowledge you can from those around you.
Remember, you will make mistakes, the goal is to always learn from them and keep moving forward. Whenever you feel lost, take a look at your business plan and make sure you're still on track. If not, make the necessary adjustments to get back on track with your plan.
So, should you start a business? If you feel that you are prepared and understand the responsibilities of owning a business and you believe in yourself, I say go for it!
"Doubt kills more dreams than failure ever will"
Suzy Kassem
If you are considering starting a business, learn how business process management can start you off on the right track.