Pros
- Independence: When you own your own business, you do not have to follow orders or observe working hours set by someone else.
- Satisfaction: Turning personal skills, hobbies, or other interests into your own business can be very satisfying.
- Financial reward: Through hard work, the sky can be the limit. Countless small businesses have grown into large companies that have produced fortunes for their owners.
- Self-esteem: Knowing you created something valuable can give you a strong sense of accomplishment, thus heightening your self-esteem.
Cons
- Business failure: Many small business fail. You risk not only loosing your money but also the money invested in your business by others.
- Obstacles: You will run into problems that you will have to solve by yourself. You may face discouragement from family and friends.
- Loneliness: It can be lonely and even a little scary to be completely responsible for the success or failure of your business.
- Financial insecurity: You are not guaranteed a set salary or any benefits.
- Long hours/ hard work: You will have to work long hours to get your business off the ground.
IF not YOU will fail just like the other 90% who try to get into biz for themseleves !