Business ownership can be challenging, fun, and exciting. However, it's also a lot of work. Research indicates that many business failures could have been avoided through better planning. Good organization of financials, inventory, schedules, and production can help avoid many potential pitfalls. Running a business can wear you down.
Some business owners feel burned out by having to carry all the responsibility on their shoulders.
Strong motivation to make the business succeed will help you survive slowdowns as well as periods of burnout. The first few years of a business start-up can be hard to balance against the demands of family life. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk.