I have always dreamed of owning a store since I was a little kid. The idea of selling items that made people happy was appealing and I like the idea of having set prices and not needing to negotiate with customers as a car salesman usually does. However, starting a real store didn't seem to be in my future as I settled down with a regular 9 to 5 job and got married.
Our chance of starting a store opened up and I convinced my wife to let me try. We don't have much money and didn't want to take out any loans in case the store didn't work out. So, we started a tiny store with what little money we saved.
There are some basic things to consider when starting your store (or any business or hobby). Do you have the time to devote to the business? Do you have the drive to continue day in and day out? Is your spouse supportive of your new venture?
We hear a lot of people talking about how much time it takes to run a business. I certainly heard it numerous times from many people trying to talk me out of opening at all. It's true. A business does take a lot of time, even if it is a tiny operation. Besides the operating hours, you need to factor in time to keep good records, time to plan, time to research and buy products, and time to do marketing. All in all, my little store is the equivalent of a full time job and I could even work longer if I had more time.
Working longer hours now and then is no big deal. A person can even pull "all-nighters" without blinking an eye. What IS a big deal is doing that every single day until the business is finished. If you have long term plans, that means these longer hours are your new life and the longer hours will never be over.
Because it is your own business, you are your own boss.
Someone told me that the great thing about owning my own business is that I am my own boss and I can close the store anytime I want. That's true. I can make up my own rules and close the store whenever the mood strikes me. However, the customer will not appreciate going out of their way to get to your store only to find it closed. This is a sure way to lose customers. I even stopped going to certain stores because they were not reliable and I started to realize that there was a chance they may be closed when I got there. Why bother trying, in that case?
In order to have any chance at success, you need to work hard, work long hours...and do it again the next morning, and the next morning after that. There is no one to tell you that you need to work hard. You need to make that decision each and every minute of every day. When you feel you need a break, you are free to take one. Just remember, your business takes a hit everytime you take a break and it is the equivalent of losing actual dollars and future dollars.
With all of the hard work and time you need to devote to your business, you really need the full support of your spouse and family. Not only are you working hard, but you are also missing out on time with your family. If you are accustomed to watching movies, going on weekend trips, or going on picnics, you need to decide if you are willing to give up that lifestyle. You also need to make sure that your family realizes the major changes and supports your decision. One thing I try to do all of the time is share my experiences with my wife. I also ask for her input in the business and ask for her help. This seems to be a good way to keep her invloved and supportive and also gives us some family time while still working on the store.
You've heard, over and over, how much time it takes to run a business. After you really think about what that means on a daily basis and understand that it is true, you may still be interested in starting your store or other business. It is rewarding and worthwhile to run a business if you still decide to go ahead and start. The worst thing would be to try to start a business without thinking about all of these detailed, daily impacts and changes in your life and then fail or give up shortly afterward. If you continue, success may be the fact that you tried, you gave it your all, and you never gave up. There is nothing more rewarding than giving your best.
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