Over the years I have been amazed at how some people think minority entrepreneurs live and work. Most people are very comfortable with the stability they have on a job they may hate but get paid every 2 weeks for. They look at the benefits, pay, vacation time etc. The first difference between Entrepreneurs and the 9 to 5 worker is we understand the benefits AND the limits of working for other people. Working in the music industry I always HATED politics, butt kissing and people literally getting screamed at when they don’t do their job. I have seen it time and again and I am not cut out to take that but I liked working in the industry so the ONLY way for me to do it was to own my own business. If you are thinking about making the switch to being a small business owner there are a few things you should know off the bat. Please consider these things BEFORE you make the leap. Click “NEXT” above or below for the next myth
We Make a lot of Money
Ideally, you can but not initially. You are learning how the operation works, hiring and firing, organizing, getting your taxes in order buying supplies, finding clients and getting everything in order. For the first two to five years unless you have a BRILLIANT idea and funding, you will probably struggle for a while but all is not lost. The benefit and the “high” of working for yourself is worth it if you can hang in there. Typically, the rules for minority entrepreneurs are different. We don’t often have a lot of financial resources and if we make the leap to being a small business owner the last thing we want are investors breathing down our necks but there are some ideas where you MUST get investors involved. As the old saying goes when you start-up use OTHER people’s money instead of your own or your family’s.
We Do Nothing all Day