I have been debating with starting a business and other job opportunities. What are the risk of running your own business other than falling out of the business?
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That I know of so far:
- You’ll probably find yourself working 24 hours a day
the upside is that at least you’re working on something you care about and it’s weirdly flexible, you can set your own schedule (or none at all) as long as it doesn’t endanger others or the people who depend on you. - There’s a lot of paperwork to handle.
- You’ll need to understand many different areas or at least be familiar enough to make informed decisions.
- The good news is that once you’re able to hire people, you can start delegating most of those last two parts.
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You face financial pressure, because income is not guaranteed and you may need to invest personal savings. There’s high responsibility and stress, as every decision is on you. You may also experience work-life imbalance, especially in the beginning, when long hours are common. Finally, uncertainty is constant—markets change, customer demand shifts, and competition appears quickly.