To have a business or not

We will be exploring the fields of business and the lives of entrepreneurs to see what we can glean for ourselves and to kick off this blog our question is

Shall I start a business or not?

Maybe the word “business” is frightening….let’s simplify the question to

• Do you feel that you are not fulfilling your life’s purpose as an employee?
• Do you think that you would better serve your community if you had a business?
• Would you like to use your skills to make money and keep the profits all to yourself?
• Are you tired of living according to someone else’s dictates?

If the answer to the questions above is ‘yes’ then perhaps it is time to consider going into business. But a word of caution – my experience has taught me that purpose driven reasons are more enduring than emotion driven reasons.

However, there are pros and cons to every decision in life, it is a matter of seeing what outweighs the other;

Advantages of getting into business

• You are your own boss
• Possibility of work-life balance because you manage your own time
• After business picks up the profits are yours
• And if you are really successful, you get to leave a legacy for your children
• You experience fulfilment as you would have escaped the “rat-race” or “modern day slavery”
• You open yourself to a whole new experience

Disadvantages

• You will need savings to carry you through the first difficult years (unless you start the business as a side hustle while you are working)
• If your savings run out, you may have challenges trying to get a loan
• Reaching break-even point where your sales match the expenses may take longer than you thought straining you financially and emotionally

Making the decision

After weighing the advantages against the disadvantages, the decision might be clear or seem hazy. Whatever the case, gut instinct may clarify the direction you are to take. For those walking with God, asking Him what to do would be advisable. Then make the decision.

Conclusion

Next time we will look at possible business ideas and how to you can get them.

Blessed week

Joanna Amnesty