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.