Owning Your Own Business Can Be Great- Or Terrible!
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Many people dream of starting their own business. If you own a business, you can be your own boss. You can decide when to work. And you get to keep the profits! This sounds great, and it can be. I ran a profitable business for 5 years and enjoyed all of these benefits-- and I learned some of the harsh realities of what it really takes to start and run a successful business.
It seems like people who are successful in business are happy to talk about the glamorous aspects of launching a business while downplaying the gritty reality of what it is really like to start with nothing but an idea and build something.
I started my first business as a college student. I went into business with one of my engineering professors who had previously started a business in Silicon Valley. What an experience that was! One of the lessons I learned was that starting a business "for real" is not a hobby. Let me just say that 100 hour work weeks for entrepreneurs is not a myth! When you have even a small chance at a huge multi-million dollar payoff, working pretty much every waking hour can seem like something you need to do.
After selling this business, I started my own venture in an unfinished basement and ended up with an office downtown and even a few employees and subcontractors working for me.
Check out my latest article on Wise Bread to learn some of the hard realities I discovered about starting a business: 8 Common Myths About Starting A Small Business