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  • Starting a Business

    Have you had enough of the 9 to 5 grind?  Perhaps you've been laid off from your job, or you just don't feel like your company has any loyalty toward you, despite all of your hard work, long hours and dedication.  

    The Fourth of July—Independence Day—is coming up. It is a time to remember this remarkable day in history, July 4, 1776, the day the Declaration of Independence was adopted by the Continental Congress.

    Perhaps this holiday makes you feel empowered to gain your own independence in the work force and inspired to start your own business and become your own boss. Wouldn't it be great to be in charge of your own destiny, and not at the mercy of a large corporation's profitability?   

    The small business sector is growing rapidly. While corporate America has been downsizing, the rate of small business start-ups has grown continuously—experiencing a 49% growth rate since 1982, while the number of small business failures has declined.

    So now, you are probably asking yourself—where would I start? First, you need to give yourself a reality check.  Do you really understand what it takes to start a business? Do you understand the pros and the cons?  Rarely does starting your own business equate to getting rich quick, so you need to make sure you are dedicated and can make the necessary sacrifices, both financially and with your time, that starting a business will require.

    Maybe you work in your company's accounting department right now, but long for the independence of hanging a shingle and starting your own firm. Here is a helpful article from Entrepreneur magazine to go through the important steps of determining if starting a small business is right for you. Consider your potential customer base, market analysis, financial risks/gains and other important criteria.  

    Or perhaps you just earned your bachelor's degree in IT and you long to start your own technology company.  While you don't have a lot of money, you have a great idea, and you can keep your steady day job at your IT help desk until you feel you are ready to commit yourself fully to your new venture.

    You might even be an elementary school teacher and you long to start your own private tutoring company geared toward children who need help with math and science. While you have your summer off, you can develop a business plan and devote yourself to getting experience tutoring kids while you map out your future company.

    Some businesses have higher failure rates than others. Do your research. Be open to reinventing your ideas. And be ready to embrace failure just as you embrace success.

    As we celebrate Independence Day, you might make it goal to start your own independence as a small business owner. It might not be picnics and fireworks in the beginning, but with hard work, perseverance and determination you could be a small business success!

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    And if you are considering pursuing higher education we invite you to find out more about Kaplan University’s programs and explore our undergraduate and graduate degree offerings.

    It is important to note that certain career paths are growing and our degrees are designed to strengthen your knowledge and prepare our students to advance their careers. But Kaplan University cannot guarantee employment or career advancement. Several factors specific to a student’s or alumni’s backgrounds and actions, as well as economic and job conditions, affect employment. Also, keep in mind that national long-term projections covered in articles may not reflect local and/or short-term economic or job conditions, and do not guarantee actual job growth.

     

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