We started very slow and we we have been 100% reliant on our business for almost 2 yrs now. It is a 24/7 job of managing money, insurance, taxes, etc.
Worth it... Yes we love not answering to anyone.
Your industry plays a big part of your success. Cash flow is critical. We have privately funded our company, no investors, no loans, WE own it. That has been tough, especially when we were at a new start up and building credit with large corporations. Many times, we had to pay CIA via wire upwards of $100,000 and then wait on our customers to pay their bill to us. As an incentive, we offer a discount if a company pays in 10 days... helps the cash flow!!
Things are MUCH better now, we have terms with our major suppliers and have shown that we are good for the 1 Million we may owe over a period of 3-6 months. We are fortunate to not have any major losses at this time.
We continue to take things very seriously and not make quick decisions. There are a lot of things to consider.
Make sure you have a good business plan, good legal counsel and a good business tax accountant.