Why Do I Want to Start A Business?

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Have you ever asked yourself, "Why am I in Business?" or "Why do I want to start a business?" These are important questions that really need to be answered before you make the leap.
Some people are good cooks and have one or two great receipts, so they want to open a restaurant.
Many people are good technicians in their line of work and just know that they can do it better than their boss.
So, they want to start a business where they can use their specialty.
Some of us think that it would be "cool" to own that kind of business.
But most of us just hope that we can become rich if we only could go into business for ourselves.
These are not good reasons to start a business! If you have started a business or are thinking about starting one, based on one of these or similar reasons you may want to stay tuned to this blog and find out why these are not the best reasons to get into business for yourself.
Before you take that kind of step, here are just a few things to think about running your own business.
  • What are my goals for starting a business?
  • Am I and my spouse in agreement about starting a business?
  • Do I have enough money to start the business and live while it is in its infancy?
  • Do I have a business plan or do I even know what a business plan should look like?
  • Do I know how to manage the business aspects on my own? Will I like it?
  • From what location will I operate my business?
  • Do I need suppliers, inventory, tools, licenses, permits or a legal entity?
  • How much will I charge for my products and services?
  • What kind of competition is out there? Can I compete?
  • Do I need to hire others to help me? How much will I pay them? How? When?
  • Will the business allow me to do the fun and enjoyable things in life that I do now?
These are just a few questions you should ask yourself before you get started.
It may cost you too much to find out the answers after it is started.
Over the next number of weeks and months we will address these questions and many more.
Then, once you have worked it all out in your head and on paper, you may just want to take the leap into owning your own business.
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