I was always considered a good employee by my bosses because I'm dedicated and hard working. But I hated being an employee. Since the moment I entered the work force, I wanted to be an entrepreneur. So, for me, the road was a long one.
The transition came when my grandmother became very ill. I knew that a small inheritance was coming my way, so I began preparing. I got a job as an operations manager at a mail-order company. Only the absentee-owner was above me, so I learned a lot. He was a difficult person to work for, and I was fired after about a year, but that was just as my inheritance came in, and I was ready.
I have excellent credit, and the inheritance was just enough for a downpayment for a small business. I searched businesses for sale within a 100 mile radius for about 4 months. I wasn't too picky. I was looking for some sort of manufacturing business that had good financials/profitability.
The transition was not so difficult for me, but I can see how it could be for a lot of people. Basically, I lost all of my friends that are still employees. We had little in common. They thought my stories were boring or bragging, and I wasn't much interested in the employee plight anymore. I've made new, business owner friends.
The first couple of years are difficult for any business, and personal finances are rocky during that period. Try to enter a new business with clean credit cards, so if you can float yourself with a line of credit if need be. You have to be stone cold with your own finances and the businesses. Watch every penny. Learn to do with less.
Fear is a primary motivator during the beginning, and later on running your business will be fun.
With my next business (why stop at just one?), I will probably create it from scratch instead of buying one. The upside is that you have total control, and inefficiencies never gain a foothold. The downside is that cashflow will be a mere trickle for a lot longer than if you bought an existing business.
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