10 Signs You Shouldn’t Be a Small Business Owner

Thinking about starting your own business? Take a moment to read the signs. While no single sign here guarantees failure, any one of them will certainly make success in business much more difficult than it already is. The good news, however, is even if you see yourself in this list, you can overcome any of these traits and rewrite your signs.

The essential requirement is to be honest with yourself. If you find that you’re nodding in agreement, step back and work on improving in those areas first, then tackle business ownership later.

1. You can’t make decisions

Making decisions doesn’t mean you need to make every single decision (that’s what we call micromanaging), that you have to deliberate for hours over the ones you do make (that’s what we call procrastinating), or that you have to make decisions following a certain procedure or managerial methodology. You do have to be able to make the call, one way or another, move that decision into action, and then deal with what happens as a result of that action, good or bad.

An indecisive leader wastes time trying to figure out which way the wind is blowing. Meanwhile, the rest of the world has passed by. In business, taking too long to make a decision on how to proceed means you lose the chance to proceed.

2. You won’t take responsibility

If you’re known among friends and family as the Master Excuse Maker, don’t open a business, at least not until you get a handle on being the one who doesn’t invent excuses but takes responsibility. The fun thing about being a business owner is that you get to be in charge; and the worst thing about being a business owner is that you have to be in charge—hence, the bottom line depends on you.

No matter whose fault a mistake is, as the head of your business, you have to own everything that goes on in your business, bad and good. An unhappy customer doesn’t want to hear about why it’s your employee’s fault. An unhappy investor doesn’t want to hear about why the economy didn’t turn out the way you expected it to. Learn to claim responsibility for what happens in your life before you jump into owning a business.

 

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By: Annie Mueller, Writer OPEN Forum

 

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