Starting a Business – Do You Have the Time?

According to a United States Census Bureau survey of business owners, 51 percent will work over 336 days per year. 34.5 percent will work over 40 hours per week and 13.6 percent of those will work more than 60 hours per week.

The average business owner/manager will receive about 190 messages a day. It takes a lot of time just to listen to that many messages, and much longer to respond to them. What you will need to succeed is the commitment of your time; all of it. As a business owner, I can look back and hear myself, saying, “I want to be my own boss and work my own hours.” As with many other want-to-be business owners, I didn’t realize the truth. The truth being, you most likely will have to commit to endless hours and sleepless nights; weekends and holidays included. Vacations are often put on hold for years. Maybe somewhere down the road there will be time, but for new business owners, time is your most necessary commodity. If you are not willing to give your time unconditionally, go back to your nine to five security blanket, collect your paycheck on Friday, and hit Vegas for the weekend, because if you don’t have the time, you’re not going to succeed.

If you want to start a business, but you need to continue working another job, the chances for your new business’s success lessen, unless you are only looking for a part-time business venture. For a new full-time career being self-employed, your best odds are always to have unlimited time to invest. Some people are able to manage enough time in each day to keep that regular job afloat. But I would recommend starting fresh without that obstacle. If that’s not an option for you, choose your new business wisely or plan to “grow” your business slowly into a full-time career. Keep in mind what hours you can make available, and choose a business that will work into your time allotment. I still stress the importance of time investment; if it’s not there, you narrow your chances of success.

In a retail business, such as a store, some people figure to save money they will work the store alone when starting out. That would appear to be a great idea, but have they considered that they might need to go out and pick up products for the store? Products could be store merchandise, change for the register, sales books, or a trip to the bank. Most of the places they need to go would most likely only be open the same hours as their own store. Now what? Sometimes there just isn’t enough time. You might put in twelve-hour days, but still fall short; plan for these “little” problems. Make sure the time you invest will work for your business.

In other types of retail business, such as mail order, or an Internet business, you can work from your home. This might be a better option for you if time is an issue. This is a good retail business plan for someone who doesn’t want to take a huge risk or doesn’t have the time due to an existing job or other obligations.

After your business becomes successful-and with good planning-your hours may become more flexible. In your new full-time business, you may even become able to set your own schedule.

Any way you look at it, you must commit your time. Most business failure comes from lack of planning, and time is a big part of what people don’t plan for. The Rolling Stones we not all right--time is not “always” on your side.

Carol Denbow is the author of numerous articles and books including, Are You Ready to Be Your Own Boss?, an easy-to-read and comprehend business start-up book. Read more about business start-up and Carol Denbow at http://www.BooksByDenbow.Weebly.com or visit the author’s community website at http://www.PlainAndSimpleBooks.com