A
CHECKLIST OF REASONS TO START YOUR OWN BUSINESS
By
Donald W. Hudspeth©
Here is a list of
reasons why I started my own business and why you may want to start your own small
business:
1. Employment: It’s a job.[1] Owning your own business is a means of
employment. And, if you don’t like your boss, then you have problems outside of
the business. Starting a business as a means of employment might be a good move
for veterans, retirees, new grads, and the unemployed or under-employed workers
who need to create their own job.[2]
Getting off the couch and “into the world” can be a
powerful motivator to succeed, particularly for those with an entrepreneurial
bent. Of course, owning your own
business may be a job that does not pay any money, but if you have no job right
now, at least it provides the possibility of money, all-important experience,
and may create hope. (Often, hope is what keeps us going and leads to greater
things.)
2.
Experience and Resume Builder: Self-employment can
provide valuable experience in the school of “hard knocks.” Win or lose, you
should learn something you can use. And,
owning a business can help fill a gap in employment on your resume if you
decide to go back into the job market. And, if you are successful, you may not want
to go back. Note: Having owned a business is not a positive with some employers
when you are searching for job. Whether it is or not may depend on whether the
company values self-starters, or fears management and control issues arising
from someone who has been “independent” and may chafe at towing the company
line.
3.
Schedule: You can set your own schedule. You may be in “jail with the keys,” but at
least it’s your jail and your keys. For
example, if you have kids, a spouse or other loved one, or have an odd or
demanding schedule, being able to set your own hours can be the difference
between a healthy relationship or not, and income or not. As your own boss you can work on or off site
when you want, and also work odd hours if you want.
4.
Self-Determination and Self Actualization: Being in business
gives you the right to be yourself and to choose who you want to be and who you
want to deal with. But, owning your own
business can be a challenge. In fact, I often joke that a primary requirement
of starting and succeeding in business is ignorance, because if you knew going
in what you were getting yourself into, and the obstacles you would face, you
might not start. Still, a job well-done
is fulfilling and that can make life worth living. Emotional investment determines the value of
things to us. And, spiritually, being
paid for serving others and actualizing the “God within you” can add another
level of satisfaction and happiness. And,
one doesn’t really need to be religious to feel this way; psychologically it is
a form of self-actualization.
______________________________________________________________________
Donald
W. Hudspeth grew up in Middle America—the middle of Kansas. His
father and uncle owned booming businesses—it was only right that Don would own
one as well. As a student in Kansas he graduated with double majors then
completed graduate school. Donald lived in San Francisco in the late
1960′s where he saw the light of the time. He became a business owner and
operator and soon became a businessman. Don owned and operated bars,
restaurants and was a stock broker before coming to Arizona. In Arizona,
Donald owned and operated successful bath shops in malls even before they were
popular. In 1988, Donald Hudspeth graduated with a JD from Arizona
State University Law School and in 1993 earned his own Business Law Firm.
In 1999 he went to Harvard Law School Public Instruction for Attorneys.
Today, Mr. Donald W. Hudspeth owns a successful Law Firm in Phoenix with
numerous employees–he lives on a mountain and loves where he is at and where he
has been.
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Business Law, Commercial Litigation & International Business Law
Commercial Leasing, Contracts, Franchising, International Transactions, Joint Ventures, Secured Transactions, Transactions, Uniform Commercial Code, Warranties, Business Organizations, Business Successions, Closely Held Businesses, Corporate Governance, Directors' Officers' Liability, Dissolution, Formation & Business Planning, Limited Liability Companies, Nonprofit, Tax Exempt, Organizations, Partnerships, Reorganizations, Shareholders' Rights, Intellectual Property Law, Copyrights, Technology Licensing, Trademarks, Business Trade, Internet, Computer Law, Electronic Commerce, Litigation, Appeals, Complex Litigation, Federal Trial Practice, State Appellate Practice, State Trial Practice, US Court of Appeals for the Federal Circuit, Mergers & Acquisitions
Commercial Leasing, Contracts, Franchising, International Transactions, Joint Ventures, Secured Transactions, Transactions, Uniform Commercial Code, Warranties, Business Organizations, Business Successions, Closely Held Businesses, Corporate Governance, Directors' Officers' Liability, Dissolution, Formation & Business Planning, Limited Liability Companies, Nonprofit, Tax Exempt, Organizations, Partnerships, Reorganizations, Shareholders' Rights, Intellectual Property Law, Copyrights, Technology Licensing, Trademarks, Business Trade, Internet, Computer Law, Electronic Commerce, Litigation, Appeals, Complex Litigation, Federal Trial Practice, State Appellate Practice, State Trial Practice, US Court of Appeals for the Federal Circuit, Mergers & Acquisitions
“The
Business of Our Firm is Business”
[1] Normally,
this factor would not be number one on this list of reasons to start a
business, but I have listed it as #1 for now due to the bad economy and terrible
job market at the time of this article.
[2] It
may also aid in immigration. Although my firm does not practice immigration law
we occasionally represent clients who seek to immigrate to the U.S. and use
their business ownership as a means to do so. There is a story, perhaps
apocryphal, that when Hong Kong reverted to Chinese rule, its citizens fled to
Vancouver Canada and that generally the policy was that if you had $750,000,
then welcome to Canada!
