[tweetmeme source=”LessonsInBiz” only_single=false] This is a question most people ask themselves before arriving at any decision. There are a lot of consequences that one needs to be prepared for especially when it comes to business. Whether you’re already running a small business or just thinking about setting up one, there are decisions which are always coupled with uncertainty and fear. An entrepreneur who hopes to be successful in his endeavor should be a risk-taker. There is freedom and independence when you’re running your own business but you need to be able to balance it with the stress and challenges of not having a steady income.

As an employee, you have an idea of how much your salary would be. All you need to do is to compute the hours you have worked for the week and multiply it by your hourly rate. After considering the amount to be deducted because of taxes and insurance, you would have a general view of what you could spend from your paycheck. In running a business however, there is no steady income and the bills would be dependent on the production of your business. This could prove to be difficult especially if you are used to spending a fixed amount for vices and hobbies on the side. Taking risks are part of being in the business industry. However, it is not advisable to blindly risk everything you have on the line. Every decision you would make should be calculated and it would all depend on what you value and what your priorities are. Once you know your goal and you have made the realization of how much you’re willing to lay on the line for your business to thrive, only then would you be able to make an effective business decision.