Many people decide to start a business of their own when they become totally frustrated with the job they have. Others chose this route because they find themselves jobless and get frustrated looking. Still others wake up with an idea one morning, and decide to "make it so."
Regardless of what gets you to the point of deciding to go it alone, we salute you! But we also want to remind you that it isn't easy:
First of all, there's the fact that you'll most likely work 16 hour days, end up having many bosses because you’ll be doing what your customers want and won’t make any money for at least 18 months. So before you start, we suggest you take the quiz below. To succeed, you'll need a business plan and the ability to answer yes to four basic questions.
- Have you identified a problem in the marketplace that you can solve?
- Is there a product or service that you will use to get this done?
- Do you know how to run a business day-to-day and how to manage the financial bits and pieces?
- Do you have the capital to start it up and keep it running until it starts to fund itself?