Why Start a Business?

Small businesses and the success of those businesses are essential for our economy and a game changer for anyone who starts and operates one. Starting a business can be the answer if:

  • You’re unemployed   Even with our economic recovery there are still, as of this writing, 9.5 million people in the United States who are unemployed – a third for more than 27 weeks.
  • You plan to work after retirement. Seven in ten Americans ages 45-74 say they plan to work in retirement according to the AARP Bulletin, July-August 2014 (www.aarp.org/bulletin).
  • You’ve always wanted to start your own business. According to the U.S. Small Business Administration, one in four adults, ages 44-70 are interested in becoming entrepreneurs.
  • You don’t have enough saved to retire. More than 50% of people who are of retirement age have less than $10,000 in savings, according to Mitchell Schnurman in The Dallas Morning News (www.dallasnews.com).
  • You’re tired of working for other people and want to work for yourself.

Starting a business puts you in the driver’s seat and in control of your future.

There are a Lot of Reasons to Spend only $1,000 Starting a Business.

  • It limits your financial exposure while you decide if you really want to be in that business.
  • It forces you to go through the whole cycle and get to running the business, or as I call it, ‘Rinse and Repeat’ before you invest additional time and money.
  • It allows you to learn and understand every aspect of your business since you can’t afford to hire anyone else, except on a limited basis, and then only for advice.
  • It teaches you to manage both your finances and your time, as you have to either keep your day job, take a part-time job, or live off your savings or retirement to get your business started.
  • You might only have $1,000 to start a business … or you might not even have that much. (If that’s the case, see the Debunking the Myths section in $1,000 Start-Ups for ideas to solve that.)