Pro VS. Con Become Small Business Owner?

SOLVED
Level 9
Times=Money
Flexible=freedom
Fix hours=Manage Times
Problems solve=New Business Model
Careers=Be Your Own Boss
Suit/Dress=Saving Money (dress casual)
Manage=Leadership
I'm calling on all you like to contributed to this post please be helpsful to others. Would like to thanks all great top post contributor @Elin @Mj_206 @cyclomatic @KSARASARA @Shupat @Hotrod @goblin @Mark4 @0317 and myself @StevenY would like to comments add to this post. Thank you in advance.


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Accepted Solutions
Community Helper

@cyclomatic wrote:

Great topic @StevenY

It's a great opportunity for many.

Here are a couple of things I would say to be mindful of.

 

If you can grow your hobby into a business, you've done a good thing. 

If you treat your business like a hobby, you won't last long.

 

The difference is being employed vs owning a small business is all the headaches and pitfalls are yours. Be smart, build up what you need to succeed. You can do it!


In addition to my civil service duty, my wife and I own 4 tax offices. Also handle from through the offices real estate, immigration, and now a spin off partnership of new POS systems with pat pending and contracts in place. We also invest in real estate and I'm occasionally I dabble as a wine broker. My family business background goes back to my teens and our family liquor store and my brothers exterminating business 70/80's with city contracts and a computer business in the 80/90's. Who knows what opportunities I'll have after my career is done. I'm thinking; consultant biz. So if you have the knowledge and insight, do not hold back....share and inspire others. Again, great idea @StevenY

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Community Helper

Great topic @StevenY

It's a great opportunity for many.

Here are a couple of things I would say to be mindful of.

 

If you can grow your hobby into a business, you've done a good thing. 

If you treat your business like a hobby, you won't last long.

 

The difference is being employed vs owning a small business is all the headaches and pitfalls are yours. Be smart, build up what you need to succeed. You can do it!

Community Helper
Great Posts Gentlemen!
@StevenY, @cyclomatic
👍👍
Level 9

Hi @StevenY great topic,,,,,,,,but i just want to say that i think there are others here in the forums that are much more quailified to speak on this subject than at least a few of us that are on your list such as @Decades_Antqs and @TimsNewAndUsed and @RaingirlVIP81 and a few others that i cant think of the ids right now. And some that we have not even heard much from yet. Hopefully they will come and speak on this. Being top kudo does not mean we know any more than others ,,,sometimes it just means we post more. I will look forward to this discussion here steveny,,,,good topic.

Community Helper

@cyclomatic wrote:

Great topic @StevenY

It's a great opportunity for many.

Here are a couple of things I would say to be mindful of.

 

If you can grow your hobby into a business, you've done a good thing. 

If you treat your business like a hobby, you won't last long.

 

The difference is being employed vs owning a small business is all the headaches and pitfalls are yours. Be smart, build up what you need to succeed. You can do it!


In addition to my civil service duty, my wife and I own 4 tax offices. Also handle from through the offices real estate, immigration, and now a spin off partnership of new POS systems with pat pending and contracts in place. We also invest in real estate and I'm occasionally I dabble as a wine broker. My family business background goes back to my teens and our family liquor store and my brothers exterminating business 70/80's with city contracts and a computer business in the 80/90's. Who knows what opportunities I'll have after my career is done. I'm thinking; consultant biz. So if you have the knowledge and insight, do not hold back....share and inspire others. Again, great idea @StevenY

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Level 9

Hello @StevenY

 

Money -- for many years it may be difficult to make money and have a cash flow. But, if your business becomes successful, you can not only make more money you can eventually make money even when you are not working.

Level 9
Great business advises @Shupat, love to heard from you. You have mention Residuals Income great tips once again. The more business adventure RI = more fun times spent else where Lol. Thank you.
Level 9
Wow, @cyclomatic. Very impressive list of business experiences we all can learn from. We value you as our most businessmen and my respecting go out to you. I'm young at heart from real estate stand. I'm 18 yrs in the nose only last ten years count on my own investing called flip house 4 under my belt slow start hopefully finishes strong. Not to brad on here OC just open my heart to find like mind to study mentor and share experiences with. Thank you @cyclomatic for reponding back. I know I have a friend that I can count on, my friend.
Level 9
Wow, @cyclomatic. Very impressive list of business experiences we all can learn from. We value you as our most businessmen and my respecting go out to you. I'm young at heart from real estate stand. I'm 18 yrs in the nose only last ten years count on my own investing called flip house 4 under my belt slow start hopefully finishes strong. Not to brad on here OC just open my heart to find like mind to study mentor and share experiences with. Thank you @cyclomatic for reponding back. I know I have a friend that I can count on, my friend.
Level 9
@0317 Thank you for share your thought. Hopefully, @Decades_Antqs, @RaingirlVIP81 @TimsNewAndUsed and other come on here or starts their own thread and share their business experiences with us.