I was once told that you may never get rich working for yourself but you will certainly not get rich working for someone else.
I have worked for myself for 23 years.
A couple of points if I may indulge.
If you are going to work for yourself then work at something you love doing.
I go to work everyday and do something I love.
I have worked out how to get people to pay me to do that.
How lucky am I?
Do not go into business thinking it is a 9-5 job. It is not
It is an Ar$e Breaking, Mind Numbing slog 25 hours a day Monday to Sunday.
Have a plan, know your value and never ever sell yourself short.
You will not buy customers or loyalty by simply being the cheapest, you need to be the best and have the confidence to market yourself at that level.
Most small businesses fail in the first 3 years.
I believe that is because most startups simply do not know how to calculate their costs.
If you do not know what your product is costing you then how the hell can you price it right.
If you are serious about going into business then find a mentor.
A quality mentor is invaluable.
In my experience Mentoring beginners has always proved to be as valuable to me as it has been to those that I have mentored.
We should all try to give back to our industries. Many are afraid to mentor people but I believe that shows a lack of confidence.
The ultimate compliment to me would be if one of the youngsters that I have helped into my industry were one day in a position to buy me out.
Oh and this line "you may never get rich working for yourself" is still so true, but if you do it right, you may be able to surround yourself with nice things.