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Old October 13th, 2011, 10:28 AM   #134
whiterhino
I'm not old, honest...
 
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Small comment to the question about why more people don't go into business for themselves. IMO, a large part of it is fear. People are afraid to step out on their own and take a risk. They are afraid to stand up and say "it's me, I am responsible for the mistakes". I am guilty of it myself. Years ago I had 2 offers. 1 with an established company. The other was a small business owner who needed help and was willing to give me a partnership because he couldn't handle the company at the level he had grown it to. I took the safe, secure, established job. Got frustrated and quit 2 years later. I've always wondered "what if".

This is the reason I give so much credit and latitude to a business owner. They took the risk. They mortgaged their house to make it happen. They worked a full time job and worked at night to build their business. They gave up vacations, holidays, weekends and in many cases family to build a better life for themselves. On the other hand, most of us, including me chicken out when push comes to shove.

Since then, I started my own sideline business 15 years ago. I grew it to the point where I couldn't keep up with business and keep my full time job. So, I had a decision to make. I backed off on my sideline business and poured myself back into my regular career. Now I'm to the point of looking at selling off my business. Could I have made it work? Yes. But in honesty, it takes a level of risk that I wasn't willing to take at my age. So, once again, I respect those who took the risk.

Bruce, you make a good point that most people seem to be frustrated with the public salaries more than the private. I would agree with you. If a CEO is making tens of millions while they are forcing paycuts on the employees, that is not right. But if it is a private owner, I feel differently.
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