Thinking about starting a business

If you’re thinking about starting a business, you should start by considering why do you want to go down this path. Is it because you want to be in business for yourself, tired of working for someone else, you want to be independent, you are hoping to get rich or you just believe in what you are doing?

Whatever it is, you must have passion – passion for your product, passion for your customers, passion for the day-to-day benefits and annoyances. You must be knowledgeable in your chosen field and you really need a “Business 101” course, coach or mentor to help you through the business minefield. Being the boss is great – but you do not have anyone to bounce ideas, thoughts or concerns off of. Plus – given where we are today, there has to be someone who has already been done this path and can guide you past the quicksand that has buried so many others.

Is Entrepreneurship For You? Lets start here.

What characteristics do you need to be an entrepreneur? What does it take to startup and succeed? Through a series of articles and this blog I will guide you and help you determine if you have what it takes to be an entrepreneur.

Starting your own business can be a rewarding experience that offers numerous advantages, such as the ability to be your own boss, doing something you enjoy and setting your own schedule. Becoming an entrepreneur requires planning, creativity and hard work. You should consider these characteristics that can help improve you chances for success.

• Creative
• Inquisitive
• Driven
• Goal-oriented
• Independent
• Confident
• Calculated risk taker
• Committed
• Avid learner
• Self-starter
• Hard worker
• Resilient (able to grow from failure)
• High-energy level
• Integrity
• Problem solving skills
• Strong management and organizational skills

Entrepreneurs often have similar traits and characteristics.

Business are built on dreams, desires, ideas, past experiences and countless other reasons. The first step is to have an idea, hopefully an original idea. Think of this as an example: If you plan to open a hamburger stand – there are already so many other WELL KNOWN restaurants I.E. Mc Donald’s, Burger King, Carl’s Jr., Sonic and my favorite In and Out Burger – that you will have a monstrous task on your hands trying to compete with these giants. As well, these companies have enormous marketing budgets and chances are – you will not, at least not at first. You will need something that sets you apart from the others.

Next you should consider your geographical market. Will your business be local or global? Today the Internet has brought us all closer together. You can just as easily sell your product or service to someone in Europe as you can across the street. Keep in mind that the majority of people today use the Internet today to research and review products before they purchase. Technology is extremely important in today’s business success.

As with any business, you will need to know, or have access to someone who does know the standard business duties such as: Sales, Marketing, Accounting, Human Resources and IT. Many business owners find themselves wearing all of these hats from time-to-time.

If you have questions please feel free to contact us to discuss in further detail.