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Edmonton Business Consultant | Is the Timing Right for Entrepreneurship

Edmonton Business Consultant | Is the Timing Right for Entrepreneurship

The majority of Canadians dream of owning their own business says Edmonton business consultant. However, one thing that keeps them from following through with their dreams. Is not knowing when the best time to start their business.

However, Edmonton business consultant says people need to understand that it’s never going to be the perfect time to start their business. It just needs to be timing that works for them. If people wait for everything to be the perfect situation. Something else is going to happen in their life, which will cause it to not be the right time either.

I might have to wait until their children are in school or have left home for example. Or they might need to wait until they can cash in their rrsps in order to live on their savings. But those who are dreaming of business ownership need to understand. That having every single situation in their life perfect is not going to happen.

So they simply needs to wait until they no they have the discipline to work their business, and put the time they need into it to succeed. Edmonton business consultant says entrepreneurs typically have to work 12-hour days, six days a week in order to be successful.

And while many people believe that this means finding their motivation. This is not necessarily true. While motivation can be very easy to come by when the business is new. Motivation might be extremely lacking, when people are half a year in, and they are tired and don’t want to wake up at 5 in the morning any longer.

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Keeping going even when they don’t have motivation is called discipline says Edmonton business consultant. And as long as entrepreneurs to be have that discipline. To work when things get tough, to continue to wake up at 5 in the morning. And to continue putting in at 12 hour days 6 days a week. Then they know that will be the right time for them.

Also, many people are very afraid to leave their steady paycheck. And depletes their savings while chasing their business ownership dream. However, many people discovered that having a steady paycheck is often misleading. As the company they work for downsizes, goes out of business, or any number of reasons why they might be let go from a company.

Therefore, when people realize that a steady paycheck is still requiring dependence on something else. In order to bring their money in. And give a lot of people to push they need to start their own business. And ultimately, knowing that they are the ones responsible for putting food on their table.

When people realize this. Edmonton business consultant says they can take the control of their life. And start their own business, that will eventually give them the freedom that they dream about. The sooner people can start chasing this dream. The sooner they’re going to be able to have that free time and Financial Freedom. Is the reason why many people become business owners.

Edmonton Business Consultant | Is the Timing Right for Entrepreneurship

So many people dream about business ownership says Edmonton business consultant. That’s 75% of Americans age 37 to 57 say that Stave drums about owning their own business. And 2/3 of all Americans dream about starting their own small business as well.

There’s many reasons why people dream about owning their own business. From wanting to work in an industry that they are passionate about. to feeling underappreciated in their current workplace. Some people might have a very physical job, and realize they’re not going to be able to do it forever. They might realize that their job will only earn them a certain amount of money no matter how long they do it.

Business ownership often represents Financial Freedom. And the freedom to grow their wealth not just for themselves, but for their family. Allowing them to have a significant amount of money to retire on. And to be able to do things with their family like go on vacations, buy a house, and help their children fund the activities that they always want to do.

Also, entrepreneurship can represent freedom of time for a lot of people. Knowing that if they work hard enough for a long. Of time says Edmonton Business Consultants. Then they’re going to be able to take the vacations that they’ve dreamed about. And be able to spend their time working on what they wants to. Once they’ve built their business.

However, it’s not easy being a business owner says Edmonton business consultant. And in Canada, half of all entrepreneurs will fail. Industry Canada did a survey that discovered 15% of all Canadian entrepreneurs failed in their first year of owning their business.

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In their second year of business ownership, 30% of all entrepreneurs that started a business in Canada will no longer be in business. And that half of all Canadian entrepreneurs will fail by year five in their business.

There’s a wide variety of reasons why entrepreneurs will fail. The most common reason says Edmonton Business Consultants, and the reason that 42% of entrepreneurs fail. Is that these small businesses will not be able to find their customers fast enough to grow their revenue.

The other two most common reasons why Canadian entrepreneurs fail. Is that they run out of money, which is why 29% of Canadian entrepreneurs will fail. And lastly, 23% of all of these small businesses will fail because they are unable to find a staff.

Therefore, people need to realize that while it is a dream that is achievable, they will need to work hard. Often people lack confidence says Edmonton business consultant. Or they’re never sure when the right time to own a business will be.

Edmonton business consultant says Wendy’s entrepreneurs to be realize that it’s never the perfect time to start a business. And that they simply needs to take the plunge passionate and disciplined. They will be able to work hard, and overcome a lot of these reasons to succeed.

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