Am I Ready?

Am I Ready?
Tough Questions to Ask Yourself Before Starting a Small or Home Business

These days, it seems as though everyone wants to start their own business. Seems easy enough doesnt it? Come up with a good idea, and the dollars roll right in! ?Or do they?

Unfortunately, not!
Running a small or home based business requires the same business know how that running any business does. Before you decide to start one, ask yourself these questions:

1. Personal questions:

-Am I a self starter, or do I prefer being told what to do?
-Do I enjoy challenges?
-Am I good at solving problems?
-What are my strengths and weaknesses?
-What interests, talents, and skills do I have that will assist me in
running my new business?
-What skills do I need to learn or brush up on, to run my business
effectively?

2. Business questions:

-Do I really have a money making idea?
-Who is my competition?
-What do I offer that the competition doesnt -- what makes my services or product unique?
-Have I test marketed my idea?
-Who are my target customers?
-Do I have effective marketing and sales plans?
-Have I established business goals?
-Will I need capital to startup my business? If so, how much?
-Have I written a business plan? If I need to raise startup capital, is
my plan powerful enough to attract investors?
-Do I have the skills to keep the books or do I need help?
-Are there any other things that my business will require that I cannot do
myself? If so, do I have funds to pay for them?
-What type of managerial skills do I possess?
-What financial risks are involved?
-How will my prospective clients find out about me?

Take a long hard look at these questions and the answers you give to them. Then ask yourself, "Am I ready"?

Copyright 2001 Susan Martin

About the author.

Want to talk more about starting a business?

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susan@thecoachinglounge.com
http://www.thecoachinglounge.com