Quote:
Originally Posted by missypie
You must know many small business people in TV. I think when people open up a business with their hard earned money they do have "Stars in their Eyes" as most people do when they open up a business putting all their savings into their "dream". I am guessing it's the ole American dream.
Opening up a business is so different than working for a company and then after many years of hard work getting a pension. Everyone has their own "dream" in life.
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I haven't seen the statistics lately, but 10 years ago 80% of small businesses failed in the first year. Many people start business with a dream, but soon reality hits. One of my best friends and a former employee decided he wanted to start a resturaunt/bar with another friend of his - six months later the "friend" had fled the coop leaving him holding the bag as the resturaunt failed. He worked for 5 years to pay off the debts and finally, despite superhuman effort, he had to declare bankrupcy. Ir is most definitely not for everybody - you'd better be tough and financially prepared to weather the storm for the first couple years.