Pros and Cons of Owning a Business

As I kinda explained in my year in review, that there were times I thought I would not have made it to this point.  But some key things I want share are.  Pros and Cons of starting a business.  You think about these but you do not really see them till you experience it. 

PROS
You are the BOSS
You get to chose and create your work environment.
If you arrive late one day no one notices or do they??
You have control to fix issues. (no longer waiting to hear how to proceed)
Your reward is what you put in it.  (This is for those who do not feel appreciated at work)
You can adjust your schedule to fit you life. (if you need off you can adjust)
You get to chose who to hire and represent your business.
Your opportunities are endless(financial and life experience)
You get to see your hard work grow and pay off.
and last, Your DREAMS can come true!!!!!

With all those exciting things you also have cons and it is harder to see those until they happen.  It is kind of like car or motorcycle accidents.  You know the risk every time you are on the road but you never think it will really happen to me. 

CONS
You are the BOSS (it is great most of the time but you can not run and hide if you want to. All actions have reaction and you deal directly with all decisions you make good and bad)
All operations are now your responsibility (you can hire and delegate but you still have to check and make sure everything is done examples marketing, accounting, day to day operations, inventory control and to many things to name)
When your business does well financially you do well, but when it has a dry period so do you.
You no longer have someone over you to hold you accountable or to motivate yourself
You invest lots of time and money (sometimes without seeing any of it in return)
You no longer get paid sick days and vacation days (at least until you become established)
Your liabilities increase
and last, There is no GUARANTEE that your business will SUCCEED!!!!

When I made my pros and cons list in my business plan it said this:

PROS
You are the BOSS (Thinking all positive)
Flexibility for my family
Location has lots of potential
Business has lots of potential
Nice size Parking Lot
Pre established Clientele
Room to expand
Lack of competition and need of local supplies

CONS
Heating with oil
Rebuilding customers
Regaining from current pricing
Uncertainty of income
Renting Vs Buying

It does not look anything like the year later report.  I am not sharing this to discourage anyone from starting a business I am just sharing what I am learning and have learned.  My first business had very little investment and very little risk.  This one has much more potential but also the risk and investment were greater. 

I want to leave you to think about these pros and cons and make some for yourself with your business in mind but remember. 

"Have great hopes and dare to go all out for them.  Have great dreams and dare to live them.  Have tremendous expectations and believe in them." Norman Vincent Peale.