This is probably
most over looked basic question that a person considering starting a business should ask himself or herself. You should sit down and make a list of
advantages having your own business would bring, and also what skills do you bring to
table that makes you think that you can successfully run your own business.In this section I am going to lay some tough love on you. This is not meant to discourage you just to better prepare you for
realities that await you when you hang your, “Open For Business” sign. The business world truly is a jungle. Survival of
fittest is
law of
land.
There are wolves in sheep’s clothing waiting to prey on inexperienced entrepreneurs at every bend in
road. Not to mention
lions, tigers, and bears oh my how can a new business person survive?
Your best weapon to carry when entering
wild, wild world of business is knowledge.
When we decide to start our own business we tent to get all fired up. Our emotions get
best of us and we get carried away musing
possibilities of our future financial freedom. We are so excited to get
project up and running that we start spending money on all
things we are going need for our new successful business. Maybe you buy a desk, a computer, get business cards printed, maybe a fax machine, a business phone number, you pay to register your business name and get a federal tax ID number wow!
This is all new cool and exciting but what about
boring stuff. Things like writing a business plan, researching your niche market, putting your goals down on paper. Yuck!
One of
key elements of a successful small businessperson is
willingness to do
unglamorous tasks that running your own business requires every day. Weather it is making sales calls, writing letters, submitting articles, tracking ad results. These repetitive tasks are
backbone of your business.
To run a home business you must be prepared to wear many hats. You will be
CEO,
CFO, head of R&D, sales manager, accountant, secretary, and janitor, plus many other titles that are necessary to make it all happen every day. You will be, “The Man” or “The Woman” as
case may be.