At first, this may seem like a generic question but I feel some of us do not come from a background of their family running a business, so the risk associated with setting up shop on your own seems like a major risk, if you experienced this, How did you overcome this and start your own business?
My first small business, a wedding video company run out of my home I was very confident. I knew the field, had very little downside if I failed.
My first big risk was buying a retail store. That was a different story. I risked absolutely it everything in order to buy that store and it was rough the first year or so. But now, 16 years later, I’ve become a serial entrepreneur. I’ve bought and sold and started a few other businesses along the way. Still own 4 of them. About to buy another one and have very little worry. Everything makes sense and the real estate is worth 90% of the purchase price.
Overall, you need to trust in yourself. You need to work harder than you’ve ever worked, make smart choices, hire good people and take care of them.