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by Anonymous |
It's difficult to know whether you're the kind of person who would thrive in an owner-run business. But there is something you can try now that will help you find out.
Look around and see if there is a service that you can offer that could be the basis of a small after school and weekend (and holiday, too) business.
Babysitting, pet-sitting and walking, sewing, mending, knitting, house repairs and maintenance (minor carpentry, window cleaning, painting, lawn mowing, etc.) are all possibilities.
Or, do you have a specialized skill that would be helpful? Teaching music, doing tutoring in a subject in which you excell could also be the basis of a business.
We've heard of one enterprising student who took a correspondence course in book-binding and repairing, and who talked himself into repairing text books and library books in his own high school (for a fee, of course!).
This is a good time to try out the independent business route. It's part-time work that will give training and experience that'll be useful whatever you decide to do. Besides, any extra money you earn will be very useful.
In these days of bigger and bigger corporations, more and more people are turning to the owner-run business for their livelihoods.
There are responsibilities and risks connected with running your own business, but those who are involved in this kind of work usually say there's a lot of satisfaction when you're your own boss.
Anything Can be the Basis of a Business
An independent businessperson may offer a service which requires extensive university preparation. Medical doctors, dentists, architects, consulting engineers, and lawyers in private practices fit into this group.
But, almost any service can be the basis of a small business - so training can involve college work, apprenticeship, or simply on-the-job experience. Appliance repairs, hair-dressing and barbering, plumbing, electrical repairs and installations, writing, inside and outside building maintenance, etc. would be services that fit into this category.
In fact, most of the occupations that you'll see discussed in Today's Generation can be the basis of an owner-run business.
Disadvantages
Financial risk is a part of owning a business. Each year a large number of small businesses go into bankruptcy, and when an owner-run business goes under, so do the financial assets of the owner.
However, this risk can often be reduced, especially in the early stages of a small business, by beginning on a part-time basis. You hold down a salaried job and work for your business in your spare time. Many writers, musicians, consultants, and repair and maintenance service people start this way. By doing this you learn, in relative financial comfort, whether or not there is a market for what you're offering.
Long working hours are one characteristic of the owner-run business , particularly at its beginning stages. This is true of both the full-time and part-time business. But, satisfaction and the feeling of "I did it myself" are pretty potent antidotes to long hours.
The responsibilities are greater, too. You'll have to take care of your own pension plan, filing of personal and business tax forms, doing employee payrolls, etc. In fact, independent business people often employ other independents (accountants, taxation experts, management and investment consultants) to perform these services for them.
©1999 TG Magazine/Le Magazine TG
tgmag@tgmag.ca