8/18/2017

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In Business, The Buck Starts
And Stops With You

Politicians often use the phrase, "the buck stops here." If you start a business, the buck starts and stops with you.

The first step in starting a business should be understanding yourself. You are the one who makes the decision to go into business and if you succeed, or fail, you are the one who has to contend with the consequences, whether they are good or bad. Starting your own business is not to be taken lightly by any measure because your success boils down to what you are willing to put into the business. This includes time, energy, and most of all, money.

What is meant by the term "the buck starts and stops with you?" It means that everything concerning the business literally includes you from day one. The business becomes interwoven into the fabric of your life, it manifests itself into your image and creates a niche in your relationship with the world that keeps going and expanding. Even if you are in a position to hire a manager or management team to run the day to day operations of your business, it is still up to you to make sure your business succeeds.

So before jumping into the business ownership arena, there are a lot of things that you should already know about the nature of your business, a lot of things that you should have already thought about, and a lot of questions that you should already have answers to.

Even the smartest entrepreneurs, whether they own a large business, a small business, a franchise, or a corporation, are always put at risk by the unknown and in the creation of a business, the likelihood of success is enhanced by anticipating the things that may go wrong before they happen. The unknown is what you can't see, but, there are many obstacles and risks that can be seen and eliminated beforehand, if you take the time to do your homework.

  • Do the research.
  • Don't hesitate to ask questions.
  • Read all you can about the prospective business.
  • Listen carefully to those who know.
  • Take notes.
  • Always keep an open mind.
  • And never think you know it all.

There are literally thousands of books, newsletters, seminars, lectures, self help videos, articles and media events available that offer advice on everything associated with starting and running a business successfully.

But remember, when you start your business, you are going to have to rely a great deal on your instincts. Instincts are gut feelings, intuition, and the ability to foresee things before they actually happen. Your instincts are the feelings and reactions that come from inside your heart and mind. In business ownership, this is very important. Most successful entrepreneurs rely heavily on their instincts and make many major business decisions based on gut feelings and research.

If you decide to start your own business, do yourself a favor. Learn as much about everything associated with the type business you are getting involved in and make sure you understand whether or not your instincts will serve you well. This is important because you will be the one who will have to live with the success or the failure of your business venture.

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