am I ready to run my own business? No, I do not feel ready for that. I It's similar where I want to get, too, but I don't feel like I'm ready yet. There's some skills that I feel that I need first, Um, I'm a people person, and I and I communicate well, but I'm not very persuasive person. And so that is a skill that I need to learn first. I do have some management experience, but it was always under a bus who told me who told me what he wanted done, and I was able to organize and get that done.

And so, um, it's a different kind of world, and I would want, um, and I want more of those skills of operating a business instead of just executing someone else's someone else's orders. Um, I also, uh, I also feel that it's not the right situation is not the right move for my family yet. Um, we're we're just We're a new family, were just starting out, and so, um, I feel like we would need to get that a little bit more established before I start taking on the risk of running a new business, Um, although I do think it's worth it when we're ready for it, because, um, I don't have someone else deciding how much I make.

And that's nice. I my family does as well as as the business does. And if that works out well, it's very good for my family, because that's a that's a big benefit. Um, I also I also want I just want I want time to spend with my daughter and to start a business. It's very time intensive. Um, it's it's hard to do. It's a lot of hours. It's a lot of work, and it's worth it in the end. But my daughter is at an age where I just I just want to be able to go to work, to do my best, to come and come home to my daughter so that I can spend that time with her when she's a little bit.

When our kids a little bit older, when they're a little bit more independent, that's when I'll probably start thinking about moving over to my own business

Why do most businesses fail in the first year? Um, a lot of reasons, Um, one of the biggest things is that it's it's called familiarity. And so people tend to buy brands that they trust and recognize. They don't even have to be necessarily that good of quality. As long as they have heard the name enough and they recognize it, they're more likely to buy it just by exposure. Um, and so when you are starting a business, you don't have that benefit. You don't have those. You don't have loyal customers, you don't have any good reviews.

It's just a new business that people don't recognize. They have been exposed too much. And so the bigger companies, they just always will have the advantage of exposure of familiarity. Um, also a lot of people they think they found a niche, and they think that it's it's just a new thing and they're going to have a client base, and it just there isn't the interest that they expected, and that's very common as well. Um, also, a lot of things can just go wrong, and there's not. There's just not a lot of margin for error in a new business.

If it larger businesses that are that are more established, they can take a larger loss and still be able to keep running to have time to recover that loss With a new business, usually especially with first time entrepreneurs, um, they're just There's little capital. There's not enough capital to keep it running after after a loss occurs. It was probably too big. Factors is exposure. Um, there's just There's nobody familiar with the product and and low capital meaning a higher a smaller margin for error before the business fails.

So to me, an entrepreneur is somebody with vision, somebody that has a goal in mind and and they're willing to take the steps to get there. Um, an entrepreneur is a risk taker because opening your own business, it's a huge financial risk, and there's no there's ways to minimize the risk. But there's no way to eliminate risk. And so it's, There's no guarantees. There's no ah, there's not really any way to do backup plans. It's just This is what you got right? And so if it goes well, you make money.

And if it doesn't, you lose money. And those are really the only two options. Um, they are organized mentally. Usually they they have to keep track of things. They have to know how to take different steps because it's hard to start a business. There's no business that just runs itself, although some some do reach level of. I told him where a system is good and you get that feeling. But until you get that system right, things are clunky. Things are kind of awkward and and it's got to keep track of every little thing or it'll get away from you.

Um most on your most entrepreneurs that I know are very good with people. They really good interpersonal skills because to start a business, maybe you need investors. You're going to need employees you're gonna need. You can need to reach out to public. You're going to need to do some marketing. And so all the entrepreneurs that I know they're they're they're people, people, right? They can connect with people they can. They can communicate well and and get their vision across to get other people interested, whether it's an investor or or a customer.