Times have changed and nobody wants to be stuck in a regular 9-5 anymore and with small businesses now becoming the new trend it's the perfect time to try something new. Take a risk there could be a huge reward.
Having your own company comes with many upsides. You now are the boss, you are in complete control of all decisions and get to chose what your everyday schedule looks like.
- Creative freedom
- As the owner, you can pick and chose what you sell and how you sell it.
- Open schedule
- You are now your boss you have the full power of deciding how your days go and how much work you put into every day.
- When starting a small business it tends to be focused on something you are passionate about, therefor it will feel less like work and more feel more fulfilling.
- Publicly supported
- Finding your community of supporters could be difficult but many now prefer to support small businesses than larger corporations.
Owning a small business doesn't have to be your only source of income. The great thing about small businesses is that you can have as many as you find manageable. Although owning a small business does have many advantages there are still disadvantages. Starting a small can be a difficult start-up but with hard work, you can grow your business.
- The success of your business relies solely on you meaning you will have to work extra hard to make it successful. When first starting it might be hard to hire employees so you will doing all the work.
- The main thing stopping people from starting a business is the risk but how can you reap the rewards without taking the risk. When starting a small business many people tend to not plan accordingly causing their company to go under and losing more than they started with.
- Financially Reliable
- To start your small business, you need to be able to financially fund it before you reach a profit which can take few months so you run the risk of becoming financially unstable.
Overall starting a small business is difficult but with hard work and smart planning your business can boom.
When coming up with a small business it is important to come up with something with want and need. For example, the entertainment industry has been around for as long as we can remember. People will always find a reason to get together and celebrate. By joining the entertainment industry you will be setting up the chance for repeating customers. For example, if you purchase one bounce house castle that's around a 2000$ investment that can be rented out for a portion of that amount. After a few birthday parties, weddings, or family get-togethers you will have made your investment plus more with just one item. With the profits, you may be able to invest more to gain more with just an initial investment of 2000$.