No One Knows What They Are Doing in Small Business
I was having coffee in the break room one day at my old job, and I was talking to one of my friends. We were talking about small business retirement accounts. I said how small business owners never seemed to know what they were doing with them.
He looked at me stunned. He asked if I had ever worked with small business owners before. He stated, they never know what they are talking about.
Something about this statement has encouraged me to be a small businessperson. When you start doing your research to be a small business owner, the information is overwhelming. The regulations, the taxes, insurance, advertising, healthcare, etc, etc…
Just knowing that so many other successful small business owners have no idea what they were doing is comforting. I already knew much more than these people, so at least I had an advantage.
Taxes and Small Business
Especially with taxes, there are just so many ways to interpret tax code it is almost insanity.
Keeping a reasonable man theory in mind helps when you feel overwhelmed.
While we often lose sight of this, our laws and code are based on the reasonable man theory. Would a reasonable man interpret the law or code this way? If so, then the law or code has been interpreted appropriately.
You do want to check with a professional with all of these rules and regulations, but the reasonable man is a great place to start.
Personality of Small Business
There this is that there is a distinct personality that can handle being a business owner. A high risk personality that can handle ciaos and uncertainty.
If you have always had everything in its place, and a place for everything you should understand that that is not what having a small business is about. If you have a small business it is about uncertainty, and taking your best bet. Owning a small business is a lot like playing a poker game. If you are smarter than your opponents than you will win, if you play poorly you will lose.