Opinions differ as to what the top seven stupid mistakes are made by small business owners. But one must remember that a business, no matter how large or small, lives or dies by its ability to stay profitable. When a small business owner makes an unwise choice it is because he or she is not thinking in terms of profitability and calculated risk. They are taking risks but leaving the calculated part out. Basically this means that the risks the small business owners are making are not well thought out and can have disastrous results on a small business.

A home business is probably the easiest to set up and get going quickly. All you need is a few basic things such as a telephone, a room set aside, a computer, an Internet connection and you are ready to go. Of course you need to know what your business will be and you usually have to get a permit from the city even though it's in your home. But did you know that most home-based businesses fail? They take the smallest amount of startup capital yet they have a high failure rate.

There is a growing tide of people wanting to find security, freedom and flexibility through embarking on their own small business venture. Many have already taken the plunge by quitting the job while many others are hoping for that day to come someday soon.

Creating a healthy balance between work and home is no simple task, especially in today’s fast paced work environment. With the work life and home life out of balance, stress is running high in most families. If you spend more time at work, you lose out on your family and personal life. Alternately, if you spend more time facing the challenges of your personal life, such as coping with marital problems, or caring for your aging parents – on top of financial problems, you are unable to concentrate on the job. There is a great need to reclaim control over your life.

The person who works the hardest doesn’t necessarily have the highest salary. We all want to constantly be increasing our income as this in a sense reflects what we are worth as determined by the work you put in.