Rewards and Challenges of Business Ownership

Gini Dietrich at Arment Dietrich has a new video up, discussing the rewards and challenges of owning your own business.  Click here to go to the blog/video.

The video got me thinking about the rewards and challenges that I most commonly see with Gateway’s clients.  Without fail, most of the small businesses we work with would cite independence and the ability to chart their own course as the greatest reward.

As for the greatest challenges faced by business owners, this varies to a great degree.  Some will cite finding good employees, others will discuss quality control issues, and the list goes on and on.  Yet the challenge that we see business owners wrestle with more than any other is the finance and accounting function.  Really understanding cash flow has to be at the top of the list, which is compounded by inaccurate reporting and a lack of financial planning.

What do you think?  What are the rewards and challenges you experience as a business owner?

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