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.