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Forum nameThe Daily Grind
Topic subjectRE: Is owning a business all it's cracked up to be?
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=109&topic_id=6&mesg_id=16
16, RE: Is owning a business all it's cracked up to be?
Posted by DBeavers, Tue Sep-05-06 06:06 PM
I was very fortunate in that the first real business I started on a part-time basis 22 years ago has turned out to be the best possible career for me.

Not only do I enjoy selling, but I thrive on it, focused on selling business-to-business (B2B). I quit the military prematurely (without retirement) in 1987, and expanded my business to a full-time operation.

Biggest benefits -

Greater control over my income. If I want to increase my income, it's only a matter of working smarter or putting in more hours to achieve more in any given period. (As one person put it a lot of luck is involve, and I find the harder (or smarter) I work, the luckier I get!)

More freedom in scheduling my time - With no fixed showroom, I don't have to be anywhere at a set time, unless it is for appointments with clients.

No employees - No payroll to meet, no personal problems, and no major fixed income from month to month for people who may or may not produce profits for the business. Also no workman's comp, unemployment insurance for myself is minor.

Home-based - no office rent or other high overhead.

No inventory to buy, store, sell and eventually to deliver.

Flexible - I've been able to adjust my business to match trends and take advantage of hot markets, while enjoying the stability of a growing customer base with many clients who have done business with us for the past 15 to 22 years.

No mandatory retirement. I plan on working in and on my business until my 97th birthday - If I'm still around by then. I plan on passing my business on to any of my children, grandchildren, and future great-grandchildren who are interested

Downside - Difficulty in taking long vacations. But my wife and I had only taken one vacation over a week long before we started the business (10 years), and we've taken one long one since. But, we've adjusted and have taken several 4 to 5 day while in this business, along with lots of 3 day weekends.

It's not for everyone, but it certainly floats my boat. Taking risks is central to being an entrepreneur.

No fixed income, so the commissions fluctuate from week to week and month to month. But, then again, I choose not to have someone tell me how many hours I must work, and scheduling the hours and days I have to be there - for the fixed income they choose to pay me.