Originally Posted by
SkyHigh
I always use to think about starting a business but use to say to myself "what if I fail and end up unemployed"?
It seems to me everyone takes that risk if they are an employee or not. We all make an investment in a company through our time or the cost it takes to get the job or to keep it. If things do not go well everyone ends up on the street. When things do go well however as business owners the sky is the limit on raking in the profits however the employee is limited to what is marketable for their profession.
Starting a flying career demands a huge investment in time, money and hardship. Those are the same elements that are needed to start a business. In life we all take huge risks with our professions. As an employee we all hope that management knows what they are doing and has our best interest in mind. However as a business owner you have the power to control your own destiny.
Sometimes the answer is not to get another job at all but to start a business.
Skyhigh
Something I can agree with you on.... but here are a few things;
1) you do not always control your destiny when you own a business
2) There are NO days off when you own your own business, even when you are off ... you arent in many cases.
3) Depending on the size of your business, vacations of more than a few days can be a thing of the past (again many things considered)
4) Running a successful business will require much more than just "performing what ever it is you do".... dealing with property issues, tax issues, accounts payable, accounts receivable, managing inventory, payroll, state taxes, payroll taxes, insurance, etc..........
5) As in aviation...most business have competition... there is always somebody who believes they can do what you do, cheaper, faster....and at a better value...
With those things said..... owning your own business can be very rewarding and profitable.....but statistics show that the VAST majority of small business's fail within 5 years for any number of reasons.
Good luck.