{"id":600,"date":"2008-05-14T06:06:58","date_gmt":"2008-05-14T11:06:58","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/05\/14\/seven-bad-reasons-for-opening-a-small-business\/"},"modified":"2008-05-14T06:06:58","modified_gmt":"2008-05-14T11:06:58","slug":"seven-bad-reasons-for-opening-a-small-business","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=600","title":{"rendered":"Seven Bad Reasons For Opening A Small Business"},"content":{"rendered":"
by Linda P. Morton<\/div>\n

Are you thinking about opening a small business? Why do you want to?<\/p>\n

The reason that you want to open your own business is important because if you do it for the wrong reason, you may be disappointed and waste lots of time and money before you fail.<\/p>\n

If your reason is one of the following erroneous ones, think again before proceeding with opening a small business.<\/p>\n

Opening A Small Business: Erroneous Reason 1 – You Want To Quit Your Job<\/p>\n

Wanting to quit your job is an erroneous reason to consider opening a small business. If that’s your reason, find a better job instead.<\/p>\n

There will be parts of operating your business that you may hate. However, most small business owners<\/a> have to perform those jobs because they can’t afford to hire them done. Even if you can, you still have to do each job enough to know how to supervise your employees who do them.<\/p>\n

Wanting to quit your job is an erroneous reason for opening a small business.<\/p>\n

Opening A Small Business: Erroneous Reason 2 – You Don’t Want Anyone Bossing You<\/p>\n

You’ll have people bossing you even in your own business.<\/p>\n

If you borrow money, the lender will make demands about how you run your business. Clients and customers will make demands about your service. Even employees will make demands of you.<\/p>\n

If you don’t want a boss, start a hobby, not a business<\/p>\n

Opening A Small Business: Bad Reason 3 – You Want More Free Time<\/p>\n

Don’t kid yourself. You will work more in your own business than you ever have on a job. That is if you want your business to succeed.<\/p>\n

You’ll be working 50 to 60 hours weekly in order to build your business. If you just want to work part-time so you have more free time, you’ll never succeed in business.<\/p>\n

Opening A Small Business: Bad Reason 4 – You Want To Make More Money<\/p>\n

Your business is not going to start providing you money immediately. Rather it is going to eat up everything you’ve got for a long time before you can start taking money out of it for personal income.<\/p>\n

Your new business will actually take from your personal income, and if you quit your job to start it, you may be left with no income at all for years.<\/p>\n

So if you have an immediate need to make more money, get a second job instead of opening a small business.<\/p>\n

Opening A Small Business: Erroneous Reason 5 – You Invented A Great New Product<\/p>\n

Having a good idea for a product is not reason enough for opening a small business. You have to know that there is a market for the product already established. Having to take time to educate people about their need for a product can take more time than your business can survive without sales.<\/p>\n

There has to be an unmet need for your product and potential customers willing to pay you a profitable price for it. Then you need some assurance that a competitor won’t copy your idea and get your potential customers.<\/p>\n

You need more than just a good product to justify opening a small business<\/p>\n

Opening A Small Business: Wrong Reason 6 – You Have Start-up Funds<\/p>\n

Yes, a new business requires money and by opening a small business, you are investing in yourself. But is that a good gamble.<\/p>\n

Often you can make more, while keeping your job and income, by investing your money in the stock market. Your risk is less because the people running publicly-held businesses are far more experienced and, thus, more likely to make a profit than you are.<\/p>\n

Having some money to invest is not a good enough reason for opening a small business<\/p>\n

Opening A Small Business: Erroneous Reason 7 – People Tell You That It’s Easy<\/p>\n

Don’t believe everything you read and hear. Many people will tell you that opening a small business and making it successful is easy, but most of them are just wanting to make money off you. Running a successful business is lots of work. Anyone who tells you differently is telling you a lie.<\/p>\n

People lie about how hard it is to start and build a strong, successful business because they have something to gain by it. Usually they have products or services that they want to sell you and that you will be willing to buy once you figure out how hard business is.<\/p>\n

So if you don’t want to be one of those people who open a small business and fold it in less than a year, be prepared to work harder than you ever have on a job.<\/p>\n

Summary<\/p>\n

If one of these bad reasons has motivated you to toy with the idea of opening a small business, you’re better off to save your time and money.<\/p>\n

But there are good reasons for opening a small business. One is that you have a product or service that is needed and wanted by a target market whose members will pay you a fair price for it. But even then, you have to know how to market effectively to them.<\/p>\n

\n
About the Author:<\/div>\n
You can get a more on Marketing Your Small Business<\/a>, get my free get my free DVD. To discover the secret to selecting the right target market for your business, see Market Segmentation<\/a> Get a totally unique version of this article from our article submission service<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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