as risky as owning your own business is, is it worth it especailly money wise?

Answer 1

It depends on the product your selling, location, and initial out of pocket costs. Remember, it takes 3-5 years to see a profit in a typical small business. It is wise to have at least 2-3 years of income saved before going any further. So is it worth it money wise? Maybe, if you have a marketable product.

Answer 2

I love that commercial for a financial services company where a fellow begins by talking about the different kinds of bosses he has had. Then he says "Now I am the boss and my motto is to keep the boss happy."

First things first, if his enterprise isn't earning a profit, then he will either run through his equity, pile up debt, or some combination of both. If it is earning a profit, but just barely, then the boss has simply bought himself a job (I've been there).

Still, and I've been here too, some of the value in owning the business is doing things as you see best. I had lots of customers that appreciated my service--there just weren't enough of them or enough business from them to keep the shop going. Yet, while it worked, I was pleased because my customers were pleased and the people who worked for me liked me as a boss--until I had to close the shop.

Still, it comes back to the money, if you aren't making it, then you won't be doing it for long.

Good luck.

Answer 3

Money wise...it's the only way you will ever get wealthy...unless you inherit or are the CEO of a fortune 500 company. But as you said there is lots of risk and lots of work. But no pain no gain and the greater the risk the greater the reward.

Answer 4

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Answer 5

Surely it will come we have to manage it