Entrepreneurs who successfully create multi-million dollar businesses know how much hard work, disappointment, persistence and dedication it takes to build a business from nothing and then to keep it working. So when someone starts copying the company, ripping them off or the government threatens to over tax that creation they tend to fight!
And they better! This may be why some many are scared to start their own business. Statistics say that over 50% of all businesses started fail in the first year. None of them started to fail, but all with the idea of success in the future. We all start small, even the most successful of companies started small. You might start with a big idea but the company always starts small – typically you and another person or two. Owners, managers and operators of all business sizes know what I mean when I say it’s tough working for yourself. They will also tell you it’s worth the hard work and the risk when it works.
Starting your own business can be scary but so is working for someone else. The world has changed from the days of our parents with technology and economics shifted so fast even working for the most stable of companies no longer provides security. Ask employees of Wachovia in Charlotte, NC what happened to them during the banking crisis or the “secure” employees of Bear Stearns, Lehman Brothers, Circuit City, Blockbuster, Borders Book stores, Best Buy and on and on. There has never been a time when it’s more important for you to consider becoming an entrepreneur and starting your own business. What’s at risk really? Every job in the marketplace today carries some risk today due to economic conditions, downsizing, technology and the shipping of jobs overseas. So many people go to business school then don’t have the guts to start up their own business. What is the point of going to business school if you aren’t going to go into business?