Too many people are putting their life savings into a down payment for a home, when for less money they could own 100% of their own business.
Example: On midnight January 1, 2022, I officially closed on my first acquisition, a product line of technical workbenches called Electra-tec. I am now relaunching it as Pro Benches.
I first found this product on BizBuySell in early September. Four months and five site visits later, Pro Benches is my business.
Why don’t more people start small businesses?
Politicians left and right would argue that we have a lack of opportunity, the wrong incentives, or a weak culture.
These barriers still exist but they’re lower than ever. The costs of creator tools are plummeting just as audiences are going global.
Many small businesses can be bootstrapped by one person to start, with millions of collaborators and contractors online to help you build anything from anywhere.
The simple reason why most people never even try to start a business in their life is fear. Fear of losing money you can’t afford to lose. Fear that your business will fail and that you will look like a failure. Fear of the unknown.
If you can run a household, you can run a business. It’s time to take the fear out of small business ownership.
This idea is a work-in-progress. If you’d like to riff on it, hit me up @neilthanedar on Twitter.