Ducati Sporting Club UK > General > Idle Chat > Running your own business Good or Bad

[couchcommando]

Scarily I agree with Dom !

I always advise people to take no money from their new business for a whole year ! Most can't do this and fail because of it. A new business needs all the money it can get and more. There are always expenses you didn't allow for and in the first few years trade will be up and down as your name gets known in your chosen field.
Always have savings for the times trade is slow and always be prepared to work long hours. Be prepared for stress and lots of it. Listen to every bit of advice from those that have actually done it, dismiss it if you want but always listen first.
It's always better to do what you know as well, it's harder learning a new job whilst also learning how to run a business.
Banks and business advisors always try to get you to borrow money, my advice is the opposite try and do it properly whilst owing no one. That way when trade is slow you don't have payments to make.
On the plus side you don't answer to anyone and done right you should make good money. Not all businesses make you a millionaire tho LOL

Good Luck