By David Dickson
David Dickson is an experienced business person involved in a number of partnerships in both the public and private sectors, at regional and national levels. He is a non-executive director in a number of mainly family businesses. A chartered accountant by profession, he now gives general advice on business, succession, fundraising as well as mentoring entrepreneurs.
It’s important to work out exactly why you want to start a business. Becoming an entrepreneur is a life changing experience that requires real commitment. Whilst there are many advantages, there are also a number of potential pitfalls that need to be understood in order to be successful.
It may simply be that you want to work for yourself and be master of your own time. Most entrepreneurs don’t make loads of money but still have a great life and can change the world around them. That’s great. However, if you want more, the next stage of growth requires more money and more risk. The rewards can be great, but so are the risks, in terms of both finance and time.