The pandemic has taken both lives and livinghood from people. Many people have lost their jobs, and many their dear ones. All those who have lost their jobs, still had a reason to live. To live and survive for themselves and family. Survival these days is costly. You need money to survive and sustain. Many who lost their jobs came up with an idea to start a business. Startups are common and the success gives everyone a hope that they have a brighter future.
If you are one of those who are planning to start a small business or are already in the initial stages of it, knowing the pros and cons will help you be prepared for the treacherous journey ahead. The road to success isn’t always easy and smooth, there are road bumps at regular intervals. Read, learn, prepare, and then decide.
Cons:
- Long Working Hours: If you think running your own business means working less, you are highly mistaken. In the set-up stages and even afterwards, you have to work the double you used to do in a 9-5 job. There are so many things to be taken into consideration and worked upon that you will have to devote much of your time and strength. If you don’t there will be a sense of guilt eating you up inside. Many of the best entrepreneurs wake up at 4:30 am!
- You are alone in the journey: Starting a business is a risky job. Success is not always guaranteed. Moreover, you are putting savings at stake. If you are not from a business family background, your family members may have doubts and there is no one to guide you. Also, in a business there is no set of rights and wrongs. What worked for others may not for you. It is mostly trial and error. You are likely to feel lost in your entrepreneurial journey.
- No Profits for a While: A business doesn’t yield returns immediately. When you start a business, you may not earn profits for a while. Chances are you may not earn anything. You will have to use your savings to cover the bills and other expenses. Even in the long run, it may not yield the expected return. This could adversely affect your mental state. Be prepared for worse as you are for the good.
- Greater Uncertainty Involved: There is no business manual with a set of rules that can guarantee you success. Business is based purely on luck, guesswork, and hardwork. You may succeed or may not. Therefore, there is higher uncertainty involved. Even if you are a successful business owner, you may see a downfall anytime or vice- versa due to external factors. Risk and uncertainty is always there.
- Failures are a Part: They say failures are a part of success. However, failures feel miserable. Losing one’s own money or family money can feel miserable to an extent we cannot imagine. In the process, if you get bankrupt, you may slip into depression. It is a difficult stage to get over.
Pros
- You are Your Boss: As a business owner, you are your master. You have the independence to work at your will, take risks and responsibilities. Both success and failure are your own. Being independent and working for the self on your terms can be liberating. Moreover, it could instil in you the confidence that you are capable of much more and it could work in your favour.
- It is a Good Feeling: When someone uses your service or buys your product, you feel immensely good about yourself. For instance, you have started a small business of floweraura rakhi online, when you get orders the feeling is beyond your imagination. You put a thank you note out of gratitude.
- You Create Wealth Far and Wide: In the initial months or years of setting up your business, you may not earn anything. But when your business picks up the mileage you could earn wealth beyond measure. Keep pushing yourself, keep working hard, and you may become the wealthiest person. You never know what is there in your stars.
- Success Feels Goods: Once you started your small business of same day rakhi delivery in India, you didn’t know whether you will take off or land. But once you become popular, start getting orders, and create a name for yourself there is no stopping. Success feels good and exhilarating. Successful entrepreneurs chase the feeling over and over again.