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IS BUSINESS FOR ME?

To succeed in business you need a certain flair and basic desire to be independent and make your own success, rather than rely on others to carve your destiny.

More of us dream of starting and running a new business than actually do it. Things seem to get in the way, and you can argue that;

• I do not have enough money

• I am too busy at work to think about starting now

• My wife/husband/partner is not that keen on running a business

• I have no where to run it from

• I am not sure what I would sell

• I can only spare a few hours a week which may not be enough

The practical new business person starts with some basic idea as to what their business would sell or offer, and where it would fit into their current life style. They are prepared to sacrifice leisure time and maybe some sleep too!

Committed people starting a new business venture should first should start with a lot of detailed research, thinking and planning. Write a lot down, use this web site, read a lot, chat it through with other people, your partner, potential customers or clients, friends, the bank, an accountant and business advisors.

Create a number of OPTIONS or ROUTES and test them against WHAT IF questions.

You may get bored with the planning, not a good sign. You need to get excited and stimulated with the ideas and thoughts that you have.

When will I start? set a rough deadline - 3 months, 6 months, set schedules and goals in the planning stage. Things to find out, maybe you may need to invest is computer software, books or magazines.

Avoid starting on impulse, but as a result of a well though out strategic plan to give you independence and a better, richer new life.

Find suppliers, or services, locally or national, even international if necessary although transport costs and time scales may create problems. Best for new businesses to source as close to home as possible.

Success is built on a well planned foundation, good habits created at the onset to ensure the new business, no matter how small, is set up and run professionally.

The planning may deter some people as they see it "boring" or "not necessary", so they start off a venture ill prepared, thus reducing the chance of success.

Some who are more dedicated to proper planning or research may find some serious flaw or set back in their ambitions, enough to delay or cancel their plans.

For the seriously dedicated they assess their needs and either modify their strategy or go and get the things they need to start and run their new venture.

To test yourself and your business ask and get credible answers to these key questions, any doubt then maybe business is not for you, or you need to rethink how important starting a business really is to you;

• am I prepared to invest TIME and ENERGY in setting this business up and running it?

• who will (not might) help and support me with this, especially if I start part time alongside my normal day job?

• where will I run the business from (home or rented premises)?

• have I enough money to set it up and run it for several months without income?

• have I costed the set up and weekly/monthly running costs?

• what capital investment do I need in stock, equipment etc?

• have I done market research and am sure there is a market for my goods or services?

• have I assessed my competitors and know the advantages I can offer over them?

• how healthy am I, what happens to the business if I fall ill?

• what if I fail, how could I, can I?

• what happens if I fail, can I find work, will I loose my home, or get into serious debt?

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