Deciding Whether to Own a Small Business

Assuming that you've determined that you have what it takes to own a small business, now you need to decide whether you want to dive in. After all, there are as many compelling reasons why you should

The reasons to own

The following are some reasons why people choose to own a business:

• The satisfaction of creation: Have you ever experienced the pride of building a chair, preparing a gourmet meal, or providing counseling service that helps someone solve a vexing financial problem? The small-business owner is treated to the thrill of creation on a daily basis, not to mention the thrill of solving a customer's problem.

• Establishment of their own culture: No more standing around the water cooler complaining about "the way things are around here." After you've started your own business, the way things are around here is a direct function of the way you intend them to be.

• Financial upside: Consider Oprah Winfrey, Ted Turner, Steve Jobs, and Martha Stewart. It's no surprise that these one-time small-business owners are among the nation's wealthiest individuals.

• Self-sufficiency: When working for someone else has proven to be a less-than-gratifying experience, some people have learned that a better way to provide for themselves and their families is to create the opportunity themselves.