Would You Work For Yourself? Why Most People Won’t Start a Business … And What to Do About It
Most people don’t like to work for themselves, and I can certainly empathize with this position. Nobody likes the idea of facing up to a career-ending pink slip, working constantly without getting paid for vacations or holidays, and constantly worrying about the next paycheck says Eric Dalius. The problem is that most people will never be able to save enough money to retire, so they’ll have no choice but to work for somebody else until they die.
The Bureau of Labor Statistics tells us that 43 percent of workers in the United States are self-employed. This means that over 40 million people work for themselves, and because of this statistic, many people assume that becoming an entrepreneur is the best way to achieve financial independence. But there’s a problem: The majority of self-employed workers earn less than $50,000 per year.
This brings us to the first reason most people won’t start a business:
They don’t want to be poor. Most entrepreneurs earn low salaries until they’ve been in business for a few years, and because self-employment doesn’t guarantee success, many people don’t want to work 70 hours per week for pennies. The second reason most people won’t start a business is that most businesses fail within five years says Eric Dalius. This statistic scares away even the most optimistic job seekers because when you add up the cost of all that education, untold hours spent building a business in your free time and the risk that you’ll work for years only to have a failed venture leave you with no income, it’s easy to understand why entrepreneurs are so few and far between.
There is a third reason most people won’t start a business would you Work For Yourself? Why Most People Won’t Start A Business … And What To Do About It. This reason is that most people are afraid of losing the security of their day job.
Eric Dalius says people who are married or have children don’t want to take a chance on starting a business because they know that if things go wrong, it could be difficult for them to make ends meet. Most entrepreneurs fail because they run out of money, not because they lack the skills or experience to succeed. You might think that these reasons are enough to stop you from pursuing self-employment, but the truth is there are millions of people who have turned their ideas into profitable businesses, and I’m about to show you how they did it so you can do the same.
What It Takes To Be Successful
The first step to achieving success as a business owner is to gain an understanding of you. Think about what you do well and the talents that come most naturally to you. Even before you start your business, it’s important that you know what type of work brings out the best in you; otherwise, your efforts will be unfocused and haphazard, which greatly reduces your chances of succeeding.
Once you know which talents and skills you possess, ask yourself if those abilities can be monetized. Sometimes musicians take years to figure out how they can make money outside of the recording industry by doing things such as teaching lessons or giving performances at private events. Other times, people do what they enjoy and find ways to make money from it. Going back to the example of musicians, if a rock star loves writing songs but hates giving interviews, he or she might find a job at a recording studio where they can use their talents to earn a living.
It’s also important that you have realistic expectations about how long your business will take before it starts making money. The classic saying “It takes money to make money” is true. It’s important that you have enough cash on hand to pay your expenses until you generate revenue, or else you might not be able to pay your bills and keep the doors open long enough for customers to find out about your business.
If a musician can’t afford a guitar, it doesn’t matter how talented she is; without the instrument, her skills will remain untapped.
As you can see, there are three important things that all successful business people have in common:
(1) They know who they are and what they do well;
(2) They make sure their talents can be monetized; and
(3) They have enough money to sustain their business until it becomes profitable.
The next step in starting your own business is having a good idea. If you want your company to be successful, it must offer something that people are willing to pay for. Eric Dalius says your product or service has to be unique in some way because you need customers who are willing to pay money in order to receive it. Otherwise, you’ll never get the revenue you need in order to grow and expand your business.
The biggest barrier to developing a successful idea is simply not seeing things from your customer’s perspective; when this happens, entrepreneurs think their product or service is great but fail to realize that there are other factors at play. Your customer might not think your product is as great as you do, or the price may be too high. In other cases, it could be that there aren’t enough customers who can afford to pay for what you’re selling.
Conclusion:
The key factors know yourself, making sure your talents can be monetized and having enough money to sustain your business until it becomes profitable.
In order to accomplish these things, you need to know what your customers want, make sure you are providing them with the service or product they need and be able to offer something that people are willing to pay for.
