Going into business for yourself is a big step – one that can be full of apprehension, even fear. But also excitement!
Most small business buyers have never owned a business. Most also bought a different business than what they had been looking for. These business buyers, with the help of a business broker, had the opportunity to explore the marketplace, and subsequently they found a business more to their liking.
As you begin your search for a business, keep in mind that running your own business is more than a job; it is a lifestyle change – in most cases, a very big lifestyle change. Usually, you will work longer hours, make all of the decisions – and, as the expression says, “you will be the chief cook and bottle washer.” In other words, you will be doing all of the work from running the business to sweeping the floor and changing the light bulbs.
Going into business for yourself can be a daunting prospect. There are no guarantees. At some point, after all of your investigation is completed, you will still have to make that “leap of faith” that is necessary to proceed with the purchase of the business. You will have to work hard, perhaps even “tighten your belt” a little and perform many different jobs to be successful in your own business. But, if running your own show, making your own decisions, not having to worry about job security (remember, no one can fire you from your own business), and just being on your own are important – then owning a business is for you. After taking this leap of faith, almost all business owners will tell you that they would never go back to being an employee.