Could a business succeed because some owners are smarter than others? It may seem that way, but there is much more to this. As an employee or a customer, you can walk into a business and think, “why does the owner do this or that? Why not another way, which you may think would be better.” It is easy to look from the outside and “imagine” how to manage a business, but there are so many details and decisions that are more complicated than they appear. There are also lots of expenses that may not be realized.
The fact that many businesses do fail the first year or two, and others that may last up to five years and then fall apart. There are lots of reasons and many factors to being a successful business owner. Chances are if a business fails, the business owner wasn’t aware of one or more factors or not as knowledgeable in a particular area of business. This is one BIG reason to be educated about Business Ownership before making the commitment.
As a firm, who helps businesses and individuals in career transitions, Compass Career Management Solutions encourages individuals to learn as much as possible about the basic aspects of being an Entrepreneur prior to signing the “dotted line”. The first year in business, I helped to assist in a “Self-Employment Workshop” for a large group of people who were being downsized. I had only been an owner about 7-8 months, but as I heard all of the information from a business attorney, insurance representative, CPA, government rep, and others, I thought to myself that I had chosen the career path for me. However, others in the audience were surprised by many of the responsibilities of an owner. Therefore, at least one third of the attendees chose NOT to take the path of ownership. Another third felt sure this was what they wanted to do, and the rest felt they needed more thought and research.
Now after 25+ years in business, I can tell you that many things in business change and adjustments will be needed, however, I still feel passionate about my choice. My husband and I chose to work together, but that is another thing that doesn’t work for everyone. The last thing I want to see is for businesses to fail. This is a big reason why Compass Career Management Solutions provides these occasional “educational” Self-Employment Workshops. We carefully select credible experts in different areas to share data about self-employment. There is a charge, but we keep that as low as possible. Our next Self-Employment Workshop will be Wednesday, May 22 from 9 a.m.-1 p.m. You can register by clicking this link – https://www.compasscareer.com/events/self-employment-workshop-learn-the-facts/, though payment is required to reserveyour seat. Register TODAY! It is a very wise investment in your future. Details about the workshop are on this link. To be successful you need to “Learn the Facts!”