some of the challenges are practical. With no boss, it's easy to take too much time off-and get too little work done. With no co-workers, you might feel bored or lonely. You have to pay for your own benefits, like vacations, insurance, and a retirement plan. And if you make a bad business decision, you could lose all the money that you invested. for all of these reasons,more than half of all new businesses fail within one year.
Another problem is balancing work with personal life. As a business owner, you can't just stop at 5 p.m. and forget about your work until tomorrow. "Even when l'm watching TV in the evening, l'm always thinking about my clients and my projects,"says David Paik.