Many choose not to go into business for themselves and the main reason that is commonly heard is cost. At least that is what we tell ourselves, but are we just creating a limiting belief. Have you ever worked out what your job costs you or even considered the notion that your job costs you money.
Some people on average take an hour to get to and from work each day, therefore giving up 520 hours a year sitting in a car in traffic. Then take in the cost of fuel and you are looking at over $5000/year. This is the cost of just getting to and from work. You then have to consider the cost of uniforms which could be from a couple of hundred a year or if you have a corporate job this could end up being a couple of thousand on expensive suits. If you are a parent you have childcare costs and depending on your job you may have tools of the trade which could cost you thousands of dollars. Have you ever sat down and added up the costs of your job and worked out what you actually have left from your wage. You will usually find that the amount you can earn from your job is limited and usually taking up at least 40-50 hours if not more of your time.
Let’s look at the business perspective and see how it compares and whether it changes your way of thinking. Yes there are franchises that can cost you $500k+ and you don’t always make a lot of profit in the beginning. You could have a traditional business with a shop front and stock which can also be quite expensive. However, with both of these options you have more control on what you are able to earn. There is than the more alternative way of doing business and one that is becoming increasingly popular and that is working from home. Some people start their own business, some go into MLM and others, like me go into direct sales. These options all have their pros and cons and different models suit different people. The one thing they do have in common is that you do not have to sit in traffic for hours; you have more control over your earnings, along with more flexibility on when you work.
When weighing up your options maybe you should look at your investment to return ratio. Look at how much is going out and the potential that could be coming in. Be open to the possibilities out there and you just never know what you may find. I recently attended a webinar recently hosted by Loral Langemeier and she pointed out that there are two types of conversations that we have with ourselves. The occupational conversation is about minimising, restricting and living within our means. The entrepreneurial conversation is about expanding, creating and generating. Share below what is holding you back if anything from starting a business?