No one goes into a business thinking they are going to lose everything.  Unfortunately, this is not an uncommon outcome.

When asked what my best advice for people starting a business is, I have to say it is probably "never invest more than you are prepared to lose".  It almost always received with some surprise!  I go on to justify this advice by describing starting a business as being similar to placing a bet on a horse race - no matter how much research you do, training both the horse and the jockey have had, how good the going is and inclement the weather is, you may not win!  The jockey could be dismounted, the horse stay in the gate, a camera flash could put the horse or jockey off or a rut in the grass could cause the horse to stumble.  There are so many exterior forces that can cause failure to even the best run business or idea/concept.

For what ever reason, if the business does not work or simply fails, can you afford the loss?  If you can't think again.  I do not want this to be seen as me trying to keep a good person down or idea hidden, but there are simply too many sad stories about a lost house, life savings being used, broken marriages and worse.  I am confident that there are more sad stories than happy ones.

Whilst always prepared to take a calculated risk, I would never risk the roof over my head or my (and my families!) future - I wouldn't want you to, either!