Within a free-market society, citizens are encouraged to churn the economy by starting their own businesses. Those bitten with the entrepreneur bug may have brilliant visions for ideas that fill a needed niche in the market, or perhaps partner with someone else who has the capital to make an innovative product come into real existence. If these adventurous individuals are successful, society reaps the benefit, and the economy is made stronger for it.
But starting your own business is a viciously difficult endeavor, rife with obstacles and real risk involved. Although some people are certainly destined for it, others may need to take a gut-check and ensure that they are not being too much of a risk-taker just for the sake of risk-taking, or that they genuinely do have a fantastic idea, or they have the know-how and passion required to get the concept off the ground. If the prospects are analyzed, there may be a nugget of viable opportunity at hand, but reality speaks to there being a case against starting your own business.
Horrific Failure Rate
The specific statistics change every year, but all point to one undeniable fact: The vast majority of business start-ups fail, and most within the first year. Even thoughts that may seem like a revolutionary, surefire model often encounter insurmountable difficulties in their very first few months of existence. This may be the most provocative case against starting your own business, considering the potentially devastating effects, financially and emotionally, of failing at a self-starter company.
Significant Initial Investment
Back before the dot-com bubble burst, a very viable online revenue source could be started for just a couple hundred bucks. Nowadays, unless it is a specialized process that is already ready or relies simply on creative output, most start-up operations are going to require a substantial investment of both time and money to achieve lift-off. Capital can be raised in a number of ways, or perhaps already exists, but these sources can be either liabilities or difficult to coerce; and in terms of time, many people fail to realize that you must be absolutely passionate about your idea, because it will typically require very long work weeks to start off with any measure of success.
Current Opportunities Available
Some people may have too much pride or ambition to realize this, but it is nonetheless true: If you have the drive and the skills to start your own business, the overwhelming odds are that there is already an opportunity out there for you in the form of a job offer. Really, if you take time to self-evaluate your skill set that makes you believe you can launch your own brand-new organizational venture, you are in all likelihood staring at a set of traits and characteristics that many companies would love to bring on board.
Although it can be discouraging, these reasons should not simply prevent anyone from trying a new venture. On the contrary: These issues just ensure that, for those who definitely are convinced that they are going to found the next great business, they should be aware of the risks, obstacles, and hard work involved.