It's strange how a thought will come at an un-expected time. Over the New Year break I read an interesting book in which the author was extolling the virtues having your own business and the motivation factors. He was trying to persuade us to do it so he can sell his advice to us. Perhaps I was mulling over in my mind what I had read when this thought occurred;

'the simple fact is you will make more money if you have a business of your own'.

How do I know? Because I have done it, plus I have direct experience of badly performing businesses and what their owners draw from those businesses.

During the consulting period of my life I worked with many business owners who managed their own businesses. Usually they were businesses that had lost direction and were performing badly.

Often the banks were watching the overdraft and in some cases controlling closely the way the business was being managed. So they needed help and that was where I came in.

I had started my business as a consultant based on my corporate experience of turning badly performing businesses round, which I had done in an employed capacity. What hit me when I started working with the owner managers was how well they paid themselves.

This is fine by me when times are good and the business is soundly based, but surely you don't risk your business to maintain your lifestyle.

They had got so used to a certain lifestyle when the business was doing well that when they hit a difficult patch they were unable to adjust.

This caused confused priorities, loss of focus and generally a mess. I managed with analysis, direct talking and some considerable effort to help a number of individuals to sort out the mess they had allowed to develop.

They continue to this day drawing far more from their businesses than any salaried employee would ever earn.

So my point is; when I started my consulting business using my accumulated experience I earned far more than as a salaried person.

Plus, the owner mangers make more money from their businesses even in bad times.

I am proud of the fact that I have helped these people and pleased to share with you the fact that working in your own business is financially good for you.

You can start part time and build. Build on your skills and experience they are surely unique to you. Here are a few business ideas

Don't wait till your ship comes in, row out to meet it!

Best wishes,

Michael Harrison.

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