Creating Success from the Inside Out: Develop The Focus and Strategy To Uncover the Life You Want

Chapter V. Why Every Young Person Should Start a Business

The idea of opening and running your own business can be a scary one. "Who, me?" Sure, there are risks involved. But it can also be exciting and exhilarating. Just take a minute to imagine how cool it would be to be your own boss, setting the direction and calling the shots. Here are more great reasons to abandon your fear of starting and to help you kick start your own business right now:

1. You have nothing to lose. Look, the vast majority of people my age earn minimum wage. You're worth a whole lot more than $6 or $8 an hour. The worst thing that can happen if your business fails is that you have to go out and find a job. Hello!? If you decide to wait around and not go after your dream, you still have to get a job!

2. You gain invaluable experience and credentials. Owning and running a business will increase your chances of success in the future, no matter what kind of work you go into. You develop more of the "big picture" view, with more of an understanding of how all the pieces fit together to make the whole thing work ... and you gain some great skills to list on your resume.

3. Your chances of making a lot of money are far greater... and chances are you'll make it a whole lot sooner. Even though less than 20 percent of American workers are self-employed, two-thirds of all millionaires are entrepreneurs, according to Stanley and Danko in The Millionaire Next Door (New York: Pocket Books, 1996). The income you earn is only part ...