Entrepreneurship through small business is an enticing path but it’s not something for everyone. A good business idea, the need to create something, or a smart market opening can be a good foundation to starting a small business. But on the other side of the coin, it’s essential to know the wrong reasons for kicking off a business. Jumping into the small business bandwagon for the wrong reasons can doom one to fail even before they get started.
Here are the biggest bad reasons to staring a small business:
- Making a quick buck
Regardless of how simple or inspiring your small business start-up appears, it’ll never take off. In other words, there’s no shortcuts to making a mint, much less if you happen to do it without help. Starting a small business is similar to prospecting. You may have heard of striking gold in business but the truth of the matter is, prospectors work hard to gain minor successes in the process. If you’re into small business for that lone nugget, there’s a good chance of you not finding any small nuggets that are highly essentially in get there.
- Working for your own
In any position within an organization, you’ll have to answer to somebody even if you happen to be a lone worker. The people you answer to may include employees, business partners, bank, investors, etc…
There’s accountability tied in any business relationship you make. As a result, you’ll have to answer to all of them. If you’ve dwelled in an illusion where you won’t have to deal with what anyone has to say or want, you’ll likely fail. Working and answering to others is an essential aspect of a successful small business.
- Demanding more time
Ask any small business owner — finding time for oneself is nothing but a myth. Running a small business is constant. As a matter of fact, your schedule may not be as flexible since you’re frequently on call even if you’re away from communicating with others. Even if things have come to a standstill, you’ll still be thinking about your business regardless. So if you think entering a business is to give more time and flexibility for yourself, then going for a start-up should never be pursued in the first place.
- Everybody is doing it
If you want to start a business because everyone else is doing it then something is wrong with you. It seems everyone wants to get into business nowadays. Even if people don’t have any business, they’ll start talking about a start-up. It’s important to keep this mind: the main reason to start a business is because you have a good reason to so. Talking about a business may be easy but the process of starting one is difficult. Ensure you start one for the right reasons.
If you’re thinking of starting a business and taking the plunge, look into the reason why you want to make the move. If you want to succeed in a small business by working with others and dedicating your time to expand your customer base and product/services, by all means, pursue it!