I've mentioned that I get to see what it's like to own a business without the risks. This is only partially true. I never had to make an investment, and I'm not responsible to buy things for the shop out of my checking account. However, be careful what you ask for.
I have been interested in owning my own business for a few years. Since a friend of mine owned a business, I thought it would be a grand idea to learn how to go through the motions. This business isn't a startup, but after being crushed by the post 9/11 economy we're in a rebuilding phase (or going out of business phase).
When we perform a job and then have to wait more than 30 days to be paid for it our cash flow isn't healthy enough to get us through. The guys on the shop floor are, in my opinion, more important than I am. We wouldn't be in business if our manufacturing floor had no employees. Whereas the business would only suffer without an office person to smooth things out.
My ego is large enough to cause me to think it would suffer incredibly! However, I am the one who doesn't get paid on time if the business cannot collect on past due invoices. I eventually get the money that's due me, however I have gone 3 weeks without a paycheck before. It's usually not more than a week though.
So, in a way, I am taking a risk that is usually associated with being an owner. And making the decision to pay others first would be an emotional risk.
My employer hasn't been able to pay himself in over 6 years. So, I'm not complaining I'm simply learning.
Wednesday, October 17, 2007
Taking Risks With the Future
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4 comments:
The idea of dreaming about a business without the risks may appeal at first. Yet, expeirrence results without the energy flow means you miss keyt elements of excitement. People often need uncertainty to motivate and drive them to succeed in business.
The idea of not taking risks may reveal a hidden fear of failure. Those people who choose to focus on potential problems rather than be solutions-oriented, are people who don't find business is as fulfilling as it can be. Everyting begins as a state of mind.
This is correct. I am uncertain which type of business I would like to run. I am uncertain on many aspects of business that I want to learn and had no opportunity to learn elsewhere.
Many problems in business cannot be predicted. Some are never spoken of. The focus of my blog is to describe "what to expect" so problems will be a large part of what I write.
As a lifetime-employee who suddenly got a peek inside the owners office and his responsibilities, I'm actually stunned over what small business owners must go through in order to succeed.
That is my current state of mind.
Business always means costs, sometimes profits. Good luck !
We're stepping a tad bit over the line of profits right now, luckily.
Thanks for your wishes.
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