| Before embarking on any life altering decision, it can be | | | | there are more. Tailor your list to the business you plan |
| in your best interest to list out the pros and cons | | | | on starting as well as your current lifestyle (budget, |
| associated with the change. It is a simple strategy, but | | | | family, expenses). Some of the points listed under "pro" |
| one that is invaluable in helping you make that final | | | | could easily be switched into the "con" section, if you |
| decision. Teenagers and parents do it when deciding | | | | give enough thought to what they truly mean. |
| on which college the kids want to attend. As you are | | | | For example, the joy of being your own boss can |
| at your own crossroads in life, utilizing this method | | | | quickly lose its luster once you realize all that entails. |
| should help you decide if you are ready to take on the | | | | You will be your own boss, but that does not equate |
| responsibility of owning and managing your own | | | | to you sitting in a corner office enjoying a lush life on |
| business. | | | | the top floor. When you are starting a business you |
| Upon first thought, you might have an idea of which list | | | | must become the "go to guy" or Renaissance man of |
| is likely to be longer, but actually sitting down and taking | | | | business. You may have excelled in one particular |
| the time to think it through might cause your previous | | | | area in your previous job, but you must now take on |
| assumption to change. You want to be honest with | | | | many new roles. They may not be an area you have |
| the analysis, sugarcoating a con is not going to make it | | | | any particular interest in, but you must develop an |
| any easier an obstacle to overcome. You are looking | | | | interest in it. This is your business, and with that comes |
| at a complete change in lifestyle and this kind of | | | | a great deal of responsibility. |
| change demands reasonable thought and time to ask | | | | For those starting their own home-based business, |
| the right questions. Going through this process will give | | | | there are a number of other pros and cons unique to |
| you a good sense of the challenges - and the rewards | | | | that decision. Some of the pros associated with a |
| - of owning your own business. | | | | home-based business are as follows: |
| Some of the more popular reasons for owning your | | | | Lower startup costs |
| own business are as follows: | | | | Costs associated with renting office space and utility |
| -Being your own boss | | | | bills are a non-issue |
| -The chance to make more money than you can | | | | Shorter commute, which equates to less money spent |
| make working for someone else | | | | on gas |
| -A different kind of job security | | | | More flexible schedule (depending on type of business |
| -Working in a field you enjoy - greater job satisfaction | | | | you are conducting) |
| -Expanding your knowledge of business | | | | The cons include: |
| -The personal satisfaction of creating and running a | | | | Legitimizing your business with vendors or employees |
| successful business | | | | can be difficult |
| Sounds promising, doesn't it? The list of pros is | | | | Accessibility to suppliers can be difficult |
| extremely attractive, but you cannot allow yourself to | | | | Space can become an issue as the business expands |
| be so easily swayed by the list. In life, there are always | | | | In home interruptions (family, friends, children). |
| two sides of the coin, and looking at that other side is | | | | Once you have given a great deal of thought to the |
| something that some choose to overlook. Starting a | | | | particular items listed above, you will have a better idea |
| business cannot be a cavalier decision, that will likely | | | | if you are ready to start your own business. It is |
| end in your ruin. Take a look at some of the most | | | | estimated that of all U.S. startup companies, only 30 |
| common challenges in owning your own business: | | | | percent are still in business after five years, so plan |
| -Financial and personal risk factors are great | | | | ahead to ensure that you are in that group. Once you |
| -Overseeing all aspects of your business can be time | | | | reach the point of making a final decision, and if that |
| consuming and tedious | | | | decision involves you enthusiastically deciding to start |
| -Unpleasant tasks such as demotions, firing employees, | | | | your own business, congratulations! It will be a difficult |
| or bookkeeping are part of your job description | | | | task, but with the right attitude and certain qualities, you |
| -Unsteady income, especially when starting out | | | | can tackle the obstacles and start building a successful |
| Those are just a few examples of some common | | | | business. |
| issues encountered when creating the pro/con list, but | | | | |