Are You Sure You Want To Start Your Own Business? Part Two of a Series

Why, exactly, do you want to go into business for yourself?

• Is it because you cannot stand the thought of working for an uptight, demanding, and perfectly dreadful boss?

• Is it because you cannot bear the thought of going through another downsizing or restructuring, knowing that your job could be on the line?

• Is it because you want to be your own boss, call your own shots, or see more up side in your earning potential, with the possibility of financial self-sufficiency?

It is amazing how creative, resourceful, and innovative you can be when, finally, you reach the edge and find yourself in a survival situation professionally. In times like this, the entrepreneurial spirit comes alive and you figure out that you can simply do it on your own.

Does dissatisfaction alone in some area of your life constitute reason enough to venture into business and the life of entrepreneurship? Many potential entrepreneurs get to this bridge and never cross because they do not know how to discover and unleash the entrepreneur within himself or herself.

Many people resist giving credence to their entrepreneurial tendencies no matter what the circumstances, ignoring the potential for self-expression, independence and the fulfillment of their dreams. Herein resides the real tragedy. Many people experience paralysis from fear of the unknown and fear of failure. Consequently, they never pursue entrepreneurship and the potential freedom that it can bring to their lives.

Although entrepreneurship appears to offer many advantages for personal and professional growth and accomplishment, why is it that so many new entrepreneurs fail? In fact, studies have shown us that out of every 100 entrepreneurs who start their own businesses, 14 will succeed and a whopping 86 will fail in the first five years. The odds, so to speak, are stacked against you as a nascent entrepreneur. Therefore, if you are contemplating starting your own business you should take it very seriously.

The two biggest reasons people fail in a new business are:

Build Most entrepreneurs, especially the 86 that fail, usually skip one or more of these essential stages of business development and find themselves in a heap of trouble before they know it. Typically, a new entrepreneur will get and idea (envision) and go straight to market (build). They simply unknowingly skip the 'reflect' and 'create' stages, and charge into business with an 'if-I-work-hard-enough' attitude everything will be all right.

Well, statistically we know that not everything is all right and it does not work.

About The Author

Charles and Holly Egner are veteran entrepreneurs. They have trained, coached, and mentored hundreds of aspiring entrepreneurs. Their last entrepreneurial venture sold for just under $400 million in 1999. BuildOnYourDreams.com was founded to help promising entrepreneurs to build the business of their dreams. For their free Life Strategy Planning Teleseminar, visit http://www.BuildOnYourDreams.com today.

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