Why is it so hard to start up your own business?

Answer 1

Starting a business is actually very straight forward. You can start up on your own today so long as you inform the relavant tax authorities of what you are doing. Running a business at a profit is the tough part. Getting profitable customers is what you need and if you have developed a business and/ or marketing plan and know your target customer inside out you are in a better position than most. Get your marketing right and you are halfway there.

Answer 2

Some reasons are as follows.

• No written plan
• Little or no education in business
• No coach or mentor
• Did not take advantage of appropriate resources (SBA for example)
• Lack of start-up finances
• Wrong location
• Lack of collecting and analyzing informational resources (internal and external driving forces to include information on the competition)
• Poor management skills including the inability to appropriately manage material, human, financial, and informational resources to achieve the organizations goals and objectives
• Starting a business for the wrong reasons
• Lack of good advertising to include a good web page
• Lack of a real passion for business
• Lack of contingency planning (risk management)
• Could not compete with competition

Answer 3

Many people choose to start their own businesses in order to (or, because):

• be their own boss
• not be held to the business philosophy and practices of someone else
• provide a service or product that is provided by no one else
• to have their dream job
• to make money independently
• they have good "business sense"
• they think they can do the job better
• they believe they have better ideas
• they have an idea for a new service
• there is a lack of service or industry in a specific area or for a specific need

Many would say freedom since most who own their own business make less money than they would working for a large company. Freedom of creativity, direction, work hours, processes, etc.