I’ll be honest, when people tell me that they want to open their own business I tell them the truth and recommend against it. Why you ask? This is why:
- No set hours
- No paid time off
- No benefits
- No retirement plan
- No sick pay
- No stable income
- No raises
- Constant uncertainty
- Constant fear of failure
- Having to be a jack of all trades
- Dealing with more criticism than compliments
- The main reason I recommend against opening your own business; because 85% of businesses fail in the first year. This doesn’t mean you can’t succeed, but the odds are definitely against you.
It’s not just me who feels this way. Take it from Dave:
Under The Bar: 32 Reasons Why Having a Business Sucks
Then why do it, you ask?
Honestly, it’s because I want to help people by providing them with what has helped me, strength.
It's also because I don’t have to answer to anyone, except all of the members of course.
I opened Orlando Barbell over 18 years ago because it’s a place where I would like to train, where people who don’t feel comfortable going to a big box would like to train, where camaraderie overrides ego, where people with common goals help each other. I don’t always have control over this, but it was my plan, and is most often the case. This makes it all worth it.
It seems anytime I write a business-related post I get some backlash because it seems negative. I can assure you it’s not. It’s the truth.
If you’re still interested in opening your own business my eBook can help you avoid some of the pitfalls that I encountered:
https://www.elitefts.com/22-tips-to-open-your-own-small-business-ebook.html