Starting a business sounds great and easy way of earning fast money, but not everyone has the art of starting and managing a business. Most people think, it’s a cup of tea and want to give it a shot. However, many have failed in the process and have lost huge amount of money instead of making big profits like they planned and dreamed. Let us chalk out some major disadvantages of doing business:
• Unreliable source of income – while doing a job you know for sure that every first week of the month you will have “ex” amount of money coming in and this won’t be the case in doing business. As a matter of fact, doing business involves high amount of risks and nothing is for sure.
• Odd hours at work – although you might think that you are your own boss from now on and can work at your timings, this won’t work at all. Since you are responsible to fetch for your own self and hence you at times need to work more than anyone doing a regular job.
• Responsibility increases – with your money at stake and a house to run, you need to make sure you get good amount of cash flow every month to pay those bills. This means your responsibilities are now 10 times more than it was before.
• Dealing with clients – did you think you would become the boss if you started a business? You got it wrong! Each and every client you deal with is your boss from now on.
• High level of risks – doing business is known to be risky and without taking a risk you can never be able to make it big in the market. However, do remember that you are not just risking your money here you are risking your health, family and home at the same time.
There is no doubt that business has proven to be very successful for many, but you need to know if you were born to be one or not!