"Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don't have the first, the other two will kill you. You think about it; it's true. If you hire somebody without[integrity], you really want them to be dumb and lazy." (Warren Buffet. Investor, Business Magnate)
Tip II:"If we weren't still hiring great people and pushing ahead at full speed, it would be easy to fall behind and become a mediocre company." (Bill Gates. Co-Founder Microsoft, Investor)
If a client submits a compliant to the authorities and files a lawsuit against you. To protect the company assets, the company management can seek liability insurance for the business.
Working in an industry you are very passionate about keeps you in check during the toughest times.
As a business owner you have the ability to innovate, create and contribute immensely to society and therefore gaining personal satisfaction.
Companies have higher chances of obtaining loans and debentures since they can afford collateral security.
Owning your own business gives you the power to be a part of every step of the decisions made that help in building the business or else you could hire people to do that for you.
Most business owners work very long erratic hours.
Most people view hectic long work hours as a con but work schedules are mostly rough during the first days of the business.
Business owners must handle most of time consuming administrative tasks as this responsibility lies in your hands, therefore you'll experience days when you will have to spend most of the nights in the office to complete these tasks.
You will get financial trouble along the way and that is part of being in business. All money invested in companies is always at risk.
There is even a possibility that you will lose all your initial capital and even fail to pay back your business loans.
Even with a well thought out plan, the economy it self is capable of drowning your business and forcing it's closure
There are very many things to worry about as a business owner for example competition, bills to be paid, customer problems, faulty equipment.
You are always going to be held responsible for the well being of the company employees
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