Page 184 - Marky Stein - Fearless Career Change_ The Fast Track to Success in a New Field (2004)

Fearless Career Change

Pros and Cons of Starting Your Own
Business
If you feel strongly that owning your own business or being a consul-
tant is your authentic calling, then nothing else—not a personality or an
aptitude test, not a friend or family member, not a banker or finan-
cial advisor, not a career counselor, maybe not even your own spouse or
significant other—will be able to stop you.
That’s good because even if you have all the support the world
can offer, you will still be challenged repeatedly to demonstrate a deep
desire to succeed under just about any circumstance if your busi-
ness is to survive and thrive.

Yes, there are pros and cons, but your own gut
feeling—your own thoughtful analysis—is what
must guide you in making this important choice.

The lists below show some of the advantages and disadvantages
of owning your own business. Read them carefully and begin to for-
mulate your own ideas about your entrepreneurial fitness.

Possible Advantages Possible Disadvantages
•You are in charge. • You must assume 100% respon-
sibility for both successes and
failures. This does not necessar-
ily mean personal legal responsi-
bility if you choose a corpora-
tion as a business structure.
•You create your own • You may work up to 100 hours
schedule. When you’re per week getting started. You
more established, you may are basically “on call” all the
be able to work fewer and/ time until you hire someone
or more flexible hours. else to help you or you “auto-
You may even be able to mate” your business to run itself.
work from home.

166